BIEL/BIENNE, Switzerland & RANCHO SANTA MARGARITA, Calif.--(BUSINESS WIRE)--Liquidmetal® Technologies Inc. (OTCBB: LQMT) and The Swatch Group Ltd. (SWX: UHR/UHR N) today announced that they have signed an exclusive licensing agreement, allowing the Swiss manufacturer to utilize the Liquidmetal alloy technology worldwide. Within the Swatch Group, the Liquidmetal technology has been used for the first time in 2009 for the Omega Seamaster Planet Ocean, and in 2010 for the Breguet “Reveil musical.” The present contract will allow The Swatch Group to use the technology exclusively in their entire line of timepieces.
The alloys belonging to this class of material with amorphous atomic structure (by contrast to the crystalline structure) are particularly well adopted for the utilization in the watch industry, as they lend themselves to process technology similar to that possessed by plastics and present unique properties with respect to forming. Liquidmetal Technologies Inc. masters the technology and the development of amorphous alloys. This agreement will open new horizons to both partners in this field.
The Swatch Group Ltd. is the world's foremost manufacturer of finished watches. With its nineteen watch brands - Breguet, Blancpain, Glashütte Original, Jaquet Droz, Léon Hatot, Omega, Tiffany & Co., Longines, Rado, Union Glashütte, Tissot, cK watch & Jewelry, Balmain, Hamilton, Certina, Mido, Swatch, Flik Flak, and Endura - Swatch Group has a presence in all segments of the watch market. The Group employs some 25,000 persons in more than 50 countries. Its turnover reached 6.44 billion Swiss francs in 2010.
About Liquidmetal Technologies
Rancho Santa Margarita, California-based Liquidmetal Technologies Inc. is the leading developer of bulk alloys and composites, coatings and powders that utilize the performance advantages offered by amorphous alloy technology. Amorphous alloys are unique materials that are distinguished by their ability to retain a random structure when they solidify, in contrast to the crystalline atomic structure that forms in ordinary metals and alloys. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries.
This press release may contain “forward-looking statements” that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as “believe,” “estimate,” “project,” “expect,” “intend,” “may,” “anticipate,” “plans,” “seeks,” and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer’s products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.