Apparel Technologies, Inc. Enters Into Agreement With 3M.
The initial goal of the evaluation effort is to assess the feasibility of using the System 2000 for digital printing for transfer to fabric at speeds of 150 linear meters per hour. APTX's ultimate goal is to reach speeds of 300 linear meters per hour. Currently available digital fabric printers are limited to approximately 32 linear meters per hour. The initial evaluation phase has been targeted for completion in 90 days at APTX's facilities in Commerce. APTX hopes to be able to incorporate 3M's System 2000 printer in its production operation by the end of 1998 following completion of the evaluation, any needed development activity and upon successful completion of further negotiations with 3M.
Kathryn Van Ness, the Company's President and Chief Executive Officer, commented: "Our evaluation agreement with 3M represents a major step toward revolutionizing apparel production by enabling digital production of apparel to become the method of choice for the apparel industry. Traditional apparel production has been dominated by rotary screen printing for more than 100 years. The availability of high speed digital printing equipment, coupled with our proprietary and patent pending technology, will allow APTX to capture market share in the multi-billion dollar high volume markets currently dominated by screen printing, and to deliver finished product to our customer at a lower cost," stated Ms. Van Ness. "APTX has already successfully demonstrated two unique proprietary technological breakthroughs for digital apparel production: its patent pending high resolution printing capabilities and the ability to achieve color matching consistently on extended production runs and subsequent reorders utilizing electrostatic printing devices."
Through proprietary digital technology APTX's customers have the ability to respond quickly to consumer demand by bringing new product to market in a matter of days, and to economically produce small as well as large production runs, ultimately reducing inventory writedowns and returns.
Apparel Technologies, Inc. provides advanced proprietary services for digital fabric printing, manufactures apparel for leading national retailers and designs and installs state-of-the-art retail fixtures.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.
CONTACT: Apparel Technologies, Inc.
Kathryn Van Ness
President & CEO
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|Date:||Apr 30, 1998|
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