DRAPER, Utah, March 1, 2013 /PRNewswire/ -- Flexpoint Sensor Systems, Inc., (FLXT) today announced that it has expanded its manufacturing infrastructure through a new partnership with the Walker Component and Assembly Services Group, a value added manufacturing / assembly, electronic component distribution, and supply chain logistics firm.
The Walker Component Group, www.walkercomponent.com, is a well-established manufacturing company with expertise and certifications, including ISO 9001:2008, ROHS and REACH certifications that will dramatically enhance Flexpoint's assembly infrastructure and assist to market products such as those that have been developed with HTK Engineering and Intertek. With numerous Fortune 100 clients, the Walker Group will add considerable experience, prestige, and confidence to every project that it enters into with Flexpoint.
"This is a key strategic partnership" said Mark Rehder, Walker Component Group VP of Sales and Marketing. "Flexpoint's innovation and technology driven expertise combined with Walker's manufacturing and supply chain solutions provide the market with a compelling platform."
"The partnership includes manufacturing, assembly and component acquisition services and is a key step toward finalizing deals with major companies who are working with Flexpoint, HTK, Intertek and others on various projects. The logistical concerns associated with producing these products on a large scale will be comfortably met through this partnership. Many groups we deal with are concerned about our smaller size and the ability to meet production deadlines and volumes. This is a large manufacturer that has the ability to produce, purchase, aggregate and assemble parts. They also will provide stockpiling and warehousing of parts so that components can be purchased in larger volumes at a better price instead of only on an as needed basis for smaller orders. This is also a group that can become the supplier for Intertek and users of the HTK Engineering system that will give customers confidence that orders will be filled in much the same way as the large automotive manufacturers use Tier – 1 suppliers when working with smaller companies. It overcomes the hurdle when a customer wants our product, but is concerned about the companies stability or our production capabilities," stated Flexpoint CEO Clark Mower
"We are excited to be partnering with a company of the Walker Group's caliber, experience and reputation," continued Flexpoint CEO Clark Mower. "I am confident that this partnership represents a linchpin in our ongoing talks with major companies who are interested in our products. Now that we are associated with a distinguished and recognizable manufacturing partner, this should accelerate our negotiations with many of our current and future clients. Furthermore, it solidifies Flexpoint's role as a technological innovator and shifts key assembly and manufacturing capacities to the experts at the Walker Group. Our skill sets complement one another perfectly, and we are excited to see the progress we can make on existing deals, as well as new doors that open as a result of our combined capabilities. This arrangement should allow us both the opportunity and flexibility to begin large scale production of many products as early as this year."
Walker Component Group www.walkercomponent.com is an ISO 9001:2008 registered Electronic Component Distributor and Value Added Solution provider headquartered in Denver, Co. Walker has over one-thousand customers, from the Fortune 500, to the national, regional, and local company who regularly entrust their supply chain requirements to our strengths in Electronic Component Distribution and Value Added Solutions.
Flexpoint Sensor Systems (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Flexpoint Sensor Systems
Clark Mower, President
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