Softcat Regulatory News (SCT)

8 Mar 2007 15:05

Screen Technology Group plc08 March 2007 For Immediate Release 08 March 2007 Screen Technology Group plc Trading statement Screen Technology Group plc ("Screen Technology" or the "Company"), the AIMlisted designer and manufacturer of revolutionary high-resolution large-screendisplays for high ambient light environments, today announces that there willsome changes to the Company's production plans following developments at a keysupplier. The Company announced on 27 September 2006 that it had entered into apartnership agreement with Wilden AG ("Wilden") under the terms of which Wildenis to manufacture two new injection moulding tools to produce light guides foruse in the manufacture of ITrans tiles. Manufacture of these moulds isproceeding satisfactorily and they are expected to be available later thismonth. However, following the recent takeover of Wilden by Gerresheimer Group,internal changes at Wilden have resulted in some delays in the production, usingexisting mould tools, of moulded parts used by Screen Technology to manufactureITrans tiles. These parts are required to finalise the testing and commissioningof this first high-speed tile assembly machine. The Board now expects thattesting of the machine, which is now underway, will be completed shortly withthe planned relocation of the machine to one of Wilden's European productionfacilities following shortly thereafter. Wilden will then operate the machine attheir facility in accordance with the partnership agreement. The Boardanticipates that there will a delay of two months compared with the originalplans. Under the partnership agreement Wilden also agreed to re-finance the firsthigh-speed tile assembly machine when it completes its factory acceptancetesting. Changes at Wilden now mean that the funding commitment is no longeravailable and the Company is seeking alternative funding arrangements which theboard expects to finalise shortly. The Company continues to have a strong pipeline of actual and prospective ordersand expects to begin shipments of Modular products, using production fromexisting tile manufacturing machines, during the second quarter of 2007 withModular production being supplemented by tiles from the high-speed machineshortly thereafter. Screen Technology Group plc www.screentechnology.comThomas Jarman, CEO 01223 559600Simon Barton, Finance Director Charles Stanley Securities 020 7149 6000Russell CookHenry Fitzgerald-O'Connor Notes to Editors Screen Technology Screen Technology is the designer and manufacturer of high-resolution, large-screen displays designed for high ambient light environments. The high resolution and high definition of the Company's displays give a high-quality image suitable for advertising images and video as well as public information displays. They are visible at short viewing distances as well as across larger venues making them particularly suitable for large retail outlets, shopping malls, control rooms and transport concourses where customers might be within 10m of the display, a distance at which LED display technologies become unsuitable. The high brightness means that the displays are also easily visible in the kind of high ambient light environments where conventional LCD or plasma technologies become unusable. Screen Technology's patent-protected technology uses moulded optical fibre tiles to produce seamless large displays using standard production LCD panels. The scaleable modular technology enables screens to be built in a wide variety of shapes and of theoretically unlimited size. Screen Technology Group plc listed on AIM, a market operated by the London Stock Exchange, on 1 August 2005. This information is provided by RNS The company news service from the London Stock Exchange