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Flexpoint Targets Additional Markets

^{Published on 2008-12-18 06:38:17 - Market Wire}
 

DRAPER, Utah--([ BUSINESS WIRE ])--Flexpoint Sensor Systems, Inc.'s (OTCBB: FLXT) newly announced relationship with Auto Electronic Corporation (AEC) will provide an opportunity for the company to take advantage of the emerging automotive markets of China and India. The signing of a Joint Development Agreement with AEC of Korea provides for the joint development of automobile-related applications. AEC is intent on expanding its market share in Asia, the US and specifically in emerging nations' automobile markets.

AEC, an automotive parts supplier, has been selling components to automakers for over 26 years. They have a very strong relationship with Hyundai-Kia Motors, as well as other Tier-One automotive suppliers and manufacturers. As part of the agreement, AEC intends to promote new and existing applications to automotive manufacturers and parts suppliers including Hyundai-Kia, the world's sixth largest auto manufacturer. AEC has operations worldwide and recently opened their second manufacturing facility in the USA.

"This new relationship will allow Flexpoint to enter markets that are adapting new technology at an even faster rate than the domestic industry. It is expected that much of the world's automobile market growth will occur in these emerging nations and our sensors will allow the automobile industry to stay focused on cutting costs and finding new and innovative ways to solve problems. We believe that China and India will evolve as larger players in the automobile market over the next several years and our agreement with AEC positions us to take advantage of this growth," stated Clark Mower, President of Flexpoint Sensor Systems, Inc

Flexpoint Sensor Systems, Inc. manufactures a patented cutting-edge flexible sensor that has also proven to be an extremely durable switch. The single-layer Bend Sensor(R) product allows for the measurement of mechanical movement, air flow, water flow or even vibration. It can be used as a range of motion sensor, or as a durable and reliable switch in most harsh environments. Flexpoint serves numerous industries including automotive, medical, industrial controls and more.

Forward-Looking Statements

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.