Flexpoint Announces Joint Testing Agreement with Faurecia Automotive.DRAPER, Utah Draper is a city in Salt Lake County and Utah County, Utah, United States, located about 20 miles south of Salt Lake City along the Wasatch Front. Between 1990 and 2000 Draper was Utah's fastest-growing city over 5,000 people (as of 2000). -- Flexpoint Sensor Systems, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FLXT FLXT Flex Turn ) announced today a cooperative testing agreement with Faurecia (Euronext Paris Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam and Brussels exchanges in September 2000 to form Euronext NV, which is the second largest exchange in Europe behind the London Stock Exchange. :EO), to further develop the Pedestrian Impact Detection System and meet the requirements of the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community Pedestrian Safety Regulations. Faurecia has 60,000 employees working at 160 sites in 28 countries and annual sales of $10.98 Billion Euro as reported in 2005, making them a leading automotive equipment supplier. Faurecia are experts in the design, development, production and delivery of six major vehicle modules; seats, front ends, cockpits, acoustic packages, doors, and exhaust systems. This joint agreement will combine the resources, knowledge, and capabilities of both companies to develop a working prototype of the pedestrian system. During this testing, the companies will narrow down the specific materials and components that will be used in the final manufacturing process in an effort to exceed the European Enhanced Vehicle-Safety Committee's guidelines. The Pedestrian Impact Detection System uses Flexpoint's Bend Sensors(R) in the vehicle's front bumper to detect crash impact. Within milliseconds of contact, the system can differentiate between a human leg and an inanimate object and trigger a safety response in accordance with the manufacturer's specifications. "Entering a joint testing agreement with Flexpoint will advance our efforts in analyzing the system and its ability to differentiate between a human leg and an inanimate object as well as exploring additional uses for the technology," stated Jean-Marcel Aubry, EE Architect in Faurecia's Front End Division Innovation Department. "We are very honored to reach an agreement with Faurecia, a true leader in the automotive supply industry," stated Flexpoint's 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. Clark Mower. "Faurecia supplies automotive components to the largest automotive manufacturers including PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. , VAG VAG Vagina Vag Vaginal VAG Freiburger Verkehrs Ag (German transportation company) VAG Versicherungsaufsichtsgesetz (German: supervision of insurance companies act) VAG Vancouver Art Gallery , Renaud-Nissan, Ford, DaimlerChrisler, GM, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Toyota and Hyundai. Reaching this agreement is a true milestone for Flexpoint and the beginning of what we anticipate is many more to come." Flexpoint Sensor Systems, Inc. Manufacturers 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, & reliable switch in most harsh environments. Flexpoint serves numerous industries including automotive, medical, industrial controls & 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. |
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