Alyn Corp. and Bolle Inc. Sign Multi- Year Agreement for Boralyn Sunglass Frames.IRVINE, Calif.--(BUSINESS WIRE)--Oct. 23, 1997--Alyn Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALYN), producer of high-performance Boralyn and other proprietary advanced metal matrix composite Metal matrix composite A material in which a continuous metallic phase (the matrix) is combined with another phase (the reinforcement) that constitutes a few percent to around 50% of the material's total volume. materials, Thursday announced the signing of an exclusive agreement with Bolle Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of BEC Group Inc. (NYSE NYSE See: New York Stock Exchange :EYE), for the manufacture of frames for sunglasses made of Boralyn. Under the agreement, Alyn will manufacture frames for sunglasses for Bolle, using its proprietary AlynCast process. Over the three-year term, Bolle must purchase approximately $5 million in frames from Alyn in order to remain the exclusive worldwide customer for such product. The agreement may be extended by three additional years, during which Bolle must purchase nearly $10 million in frames to maintain the exclusive customer relationship, for a total of about $15 million for the six-year period. First production deliveries are scheduled for the second quarter of 1998. Robin A. Carden, Alyn's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , remarked: "Bolle is a leader in the premium sunglass market worldwide and is known for high quality and product innovation. We are pleased to team up with Bolle in providing their active lifestyle consumer with an advanced and innovative product. Boralyn will offer lighter weight, better wear properties and more intricate design capabilities than existing metal sunglass frames." Gary Kiedaisch, chief executive officer, Bolle, commented: "The unique properties of Boralyn will allow Bolle to create the most advanced metal frames available in the world. Combined with our in-house manufactured decentered polycarbonate A category of plastic materials used to make a myriad of products, including CDs and CD-ROMs. lenses, the Bolle metal matrix sunglasses will be extremely tough and impact resistant, but without the weight discomfort that comparable sunglasses retain. "This agreement exhibits Bolle's commitment to becoming the leading product innovator among sunglass and safety eyewear manufacturers." Alyn designs, develops, manufactures and markets consumer and industrial products utilizing its high-performance Boralyn material and other proprietary advanced metal matrix composite materials for a variety of selected markets. Bolle, a wholly owned subsidiary of BEC Group, is a vertically integrated, worldwide designer and manufacturer of OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and eyewear, and designer, manufacturer and marketer of Bolle premium sunglasses, sport shields, goggles goggles, n the protective eyewear worn by dental personnel and patients during dental procedures. goggles see periocular leukotrichia. and safety eyewear. -0- Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements involve known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the company operates in an industry sector where securities values may be volatile and may be influenced by regulatory and other factors beyond the company's control. Important factors that the company believes might cause such differences are discussed in the cautionary statements accompanying the forward-looking statements in the Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and in the risk factors detailed in the company's Prospectus, dated Oct. 22, 1996, filed with the Securities and Exchange Commission. In assessing forward-looking statements contained herein, readers are urged to read carefully all cautionary statements contained in those filings with the Securities and Exchange Commission. CONTACT: Alyn Corp., Irvine Richard L. Little, 714/475-1525 or The Financial Relations Board Inc. Karen Taylor, 310/442-0599 (general info) Moira Conlon, 310/442-0599 (investors/analysts) |
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