SAN DIEGO, Aug 28, 2001 (BUSINESS WIRE) -- American Technology Corp.
(Nasdaq:ATCO) today announced that Harman International Industries Inc.
(NYSE:HAR) has entered into a significant licensing agreement for certain
intellectual property related to ATC's Planar Magnetic Transducer
(NeoPlanar(TM)) technology.
Under the terms of the agreement, Harman was granted the non-exclusive right to
use NeoPlanar thin-panel speaker technology for automotive applications. Harman
has paid to ATC licensing fees and prepaid royalty fees and will pay future
per-unit royalties and engineering contract service fees.
Harman's automotive multimedia/infotainment systems and components can be found
factory installed in virtually every brand of automobile worldwide.
Terry Conrad, president of ATC, stated, "We are proud that a globally recognized
company known for such high manufacturing standards has elected to use our
technology in the production of transducers for the high-volume OEM automotive
market. Initial fees from this license add significantly to our short-term
revenues, and ongoing royalties and development fees will generate substantial
revenue. This licensing agreement with Harman, the premier worldwide supplier
and manufacturer of high quality, high fidelity audio and video products,
validates our NeoPlanar technology and paves the way for other significant
business opportunities with the technology."
Joint or concurrent announcements are expected to be made by Harman and ATC as
NeoPlanar speakers are manufactured and factory-installed into some of the
world's best known automotive lines.
NeoPlanar technology, developed by American Technology Corp. in the Company's
Carson City, Nev., laboratories, is a revolutionary sound reproduction system
employing a special thin film, and a single layer of ultra-thin high-energy
neodymium magnets. The most important quality of NeoPlanar loudspeakers is the
ability to provide extremely wide band, low distortion performance from a device
as thin as 1/8th inch and as light as two ounces.
About Harman International Industries Inc.
Harman International Industries is a leading manufacturer of high-quality, high
fidelity audio and video products for the consumer, OEM, and professional
markets. It includes Harman/Becker Automotive Systems, which is the premier,
worldwide supplier to the automotive industry of infotainment and multimedia
systems and audio systems and components under the Mark Levinson(R), JBL(R),
Infinity(R), Becker(R) and Harman/Kardon(R) brand names. Founded by Dr. Sidney
Harman in 1953, Harman International is the maker of best-in-class audio
products for cars, theaters, recording studios, auditoriums and homes. In 2000,
Harman International registered $1.67 billion in sales, and the company's stock
is traded on the New York Stock Exchange under the symbol: HAR.
Additional Information about Harman International, its products, and its brands
may be found at www.harman.com.
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Best, Savant |
