Avery Dennison and Advanced Display Systems Announce Agreement to Develop Liquid Crystal Technology for the Display Products Market.Business Editors PASADENA, Calif./AMARILLO, Texas--(BUSINESS WIRE)--May 11, 2000 Avery Dennison Avery Dennison Corporation (NYSE: AVY) produces pressure-sensitive materials (such as self-adhesive labels), office products, and various paper products. R. Stanton Avery founded Avery in 1935. Avery Dennison Corporation was created in 1990 by merger of Avery and Dennison. Corporation (NYSE NYSE See: New York Stock Exchange :AVY)(PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :AVY) and Advanced Display Systems Inc., today announced that they have entered into an exclusive license agreement for a new display technology which will provide opportunities to enter the display systems market. The technology, known as Fast Multistable Liquid Crystal Display liquid crystal display (LCD) Optoelectronic device used in displays for watches, calculators, notebook computers, and other electronic devices. Current passed through specific portions of the liquid crystal solution causes the crystals to align, blocking the passage of light. (FMLCD), will enable Avery Dennison to develop display products on flexible substrates that are used in mobile electronics applications. "We look forward to this strategic alliance with Advanced Display Systems," said Marc Heritage, vice president of electronics business development at Avery Dennison. "Joining forces will combine Avery Dennison's innovative research capabilities and manufacturing strengths with Advanced Display Systems' liquid crystal technical expertise to produce display products for use in mobile electronics, such as cell phones, pagers, digital cameras, electronic books and personal digital assistants." Displays using FMLCD technology will feature a variety of attributes compared with other display systems, including the ability to display shades of Noun 1. shades of - something that reminds you of someone or something; "aren't there shades of 1948 here?" reminder - an experience that causes you to remember something gray for improved photographic images; lower power consumption; a memory function, which retains the image on the display after power is turned off; and higher contrast, particularly in bright light. FMLCD technology can be used in many display applications from simple smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. to computer video displays to outdoor electronic billboards. Avery Dennison's core competencies provide the foundation from which the Company is planning to develop and launch products for this new market, including its capabilities in coating, roll-to-roll processing, lamination lamination a laminar structure or arrangement. , microreplication technology, adhesive formulations and high-volume manufacturing capacity. Future growth in many segments of the display industry will be based on the ability to produce conformable, impact-resistant plastic displays on a continuous roll-to-roll production line, which is a key Avery Dennison manufacturing capability. While Avery Dennison's first display products will be monochromatic monochromatic /mono·chro·mat·ic/ (-kro-mat´ik) 1. existing in or having only one color. 2. pertaining to or affected by monochromatic vision. 3. staining with only one dye at a time. , the Company has established a multigenerational mul·ti·gen·er·a·tion·al adj. Of or relating to several generations: multigenerational family traditions. product development program with Advanced Display Systems designed to facilitate the expansion of its range of products in the growing display market. "This license agreement marks a significant event in our efforts to commercialize FMLCD technology," said Dr. Bao Gang Wu, president and chief executive officer of Advanced Display Systems. "We have established that FMLCD is the best performing cholesteric cho·les·ter·ic adj. Of or relating to the mesomorphic phase of a liquid crystal in which the molecules are closely aligned within a distinct series of layers, with the axes of the molecules lying parallel to the plane of the layers and with the technology in the world, and working closely with Avery Dennison will allow consumers purchasing mobile electronics products to benefit from it." Avery Dennison is a global leader in pressure-sensitive technology and innovative self-adhesive solutions for consumer products and label materials. Based in Pasadena, Calif., the Company had 1999 sales of $3.8 billion. Avery Dennison develops, manufactures and markets a wide range of products for consumer and industrial markets, including Avery-brand office products, Fasson-brand self-adhesive materials, peel-and-stick postage stamps, battery labels, reflective highway safety products, automated retail tag and labeling systems, and specialty tapes and chemicals. Advanced Display Systems, founded in 1992, is a high-technology company, developing new flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time technologies. Originally generating revenue from an LCD production equipment operation, the privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. raised its first round of venture capital in 1997 from a consortium of Taiwan-based investors. Based in Amarillo, Texas, the company has made significant investment over a period of approximately seven years to develop FMLCD technology. Forward-Looking Statements Certain information presented in this news release may constitute "forward-looking" statements. These statements are subject to certain risks and uncertainties. Actual results and trends may differ materially from historical or expected results depending on a variety of factors, including but not limited to availability of raw materials, foreign exchange rates, worldwide and local economic conditions, development and market acceptance of new products, fluctuations in consumer demand affecting sales to, and production and inventory levels at, customer companies and other matters referred to in the Company's SEC filings. |
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