B: Forward and Motorola Amend Licensing Agreement
B: Forward and Motorola Amend Licensing Agreement
POMPANO BEACH, Fla., Aug 28, 2002 (BUSINESS WIRE) -- Forward Industries, Inc.
(Nasdaq:FORD), a designer and distributor of custom carrying case solutions,
today announced that it amended certain terms of its licensing agreement with
Motorola, Inc. (NYSE:MOT).
Accordingly, Forward rescinded its previously issued termination notice. Under
the licensing agreement, which has a term through September 30, 2004, Forward
distributes its products under the Motorola brand to customers throughout the
European, Middle Eastern and African (EMEA) markets.
Jerome E. Ball, Chairman and Chief Executive Officer of Forward, commented, "We
are extremely grateful to Motorola for their continued confidence in our
Company. Motorola's strong brand recognition combined with our ability to
quickly move superior products into the market will help us achieve our mutual
goal of expanding wireless accessory sales in the EMEA region. We look forward
to working with Motorola for many years to come as we continue to build upon our
15-year relationship."
About Forward Industries
Forward Industries, Inc. designs, markets and distributes custom carrying case
solutions primarily for cellular phones, home medical equipment and laptop
computers. The Company sells its products directly to original equipment
manufacturers and recently began marketing a line of Carry Solutions under the
"Motorola" brand name. Forward's products can be viewed online at
www.fwdinnovations.com and www.forwardindustries.com.
Statements in this press release other than statements of historical fact are
"forward-looking statements." Such statements are subject to certain risks and
uncertainties, identified from time to time in the Company's filings with the
Securities and Exchange Commission that could cause actual results to differ
materially from any forward-looking statements. These forward-looking statements
represent the Company's judgment as of the date of the release. The Company
disclaims, however, any interest or obligations to update these forward-looking
statements. |
