29th Jan 2007 07:01
MicroEmissive Displays Group PLC29 January 2007 Embargoed: 7:00am, 29 January 2007 MicroEmissive Displays Group plc ("MED" or "the Company") Distribution Agreement and Contract Win MED, the AIM listed designer and manufacturer of low-power light emittingpolymer displays, announces that it has signed a stocking and distributionagreement with Cytech Technology Limited ("Cytech"), one of the leadingdistributors of electronic components in Hong Kong and China. Under the terms of the contract, Cytech will use their extensive network andbrand to sell MED's eyescreen(TM) technology to Hong Kong and China basedmanufacturers. The agreement will generate sales, build and extend the orderbook for the product and commercialise the technology in the region. Cytech willseek to sell eyescreen(TM) to manufacturers for application in a variety ofproducts. In conjunction with the distribution agreement Cytech has placed a significantstocking order for the product. This order takes the cumulative value of thesupply contracts signed to date to in excess of $10 million. As stated in the announcement of 28 December 2006, the manufacturing tool setwas delivered on time and characterisation is underway. The management expectthe manufacturing line to be capable of volume shipment in the second quarter of2007. Commenting on the agreement, Bill Miller, Chief Executive of MED said: "The needfor low power, high quality displays is being driven by the consumer demand fornext generation mobile devices and our product is attracting significantinterest. The agreement with Cytech validates our confidence in the potentialfor our product as an enabling technology and we are working to build an evenstronger order book for the coming year." He added: "Stocking and supply agreements are a cost effective way of developingour sales network. We intend to sign further distribution agreements coveringother territories in order to secure a global sales framework for our business." -ends- For further information, please contact: www.microemissive.com Microemissive Displays 0131 650 7764Bill Miller, Chief Executive Tavistock Communications 020 7920 3150Matt Ridsdale/John West This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MED.L