Flexpoint Announces Production Agreement with HTK Engineering, LLC
November 30, 2011 7:00 AM
DRAPER, Utah, November 30, 2011 (BUSINESS WIRE) -- Flexpoint Sensor Systems, Inc. (OTCBB: FLXT) http://www.flexpoint.com today announced that they have completed development and have reached agreement with HTK Engineering, LLC, (HTKengineering.com), for Flexpoint to produce a sensor to be used in a safety product for large trucks. The initial application is for refuse collection vehicles, (garbage trucks), but the system is adaptable to all large trucks.
There are more than twice as many garbage trucks in the United States as urban transit buses, with about 179,000 trucks--136,000 refuse collection trucks, 12,000 transfer vehicles and 31,000 recycling vehicles. One of the major causes of accidents involving refuse collection vehicles is the vehicles inadvertently rolling into buildings or vehicles when the driver leaves the vehicle without first applying the parking brake. HTK Engineering has developed a system utilizing Flexpoint’s patented Bend Sensor® technology which will lock the brakes when the operator leaves the seat. Victor Yannacone III, Director of Marketing for HTK, anticipates sales of 3,000 to 5,000 systems per quarter beginning in the 1st quarter of 2012 and growing from there.
Tom Accardi, President and founder of HTK Engineering stated, “The HTK Engineering Anti-rollaway Braking Safety System is now available for immediate installation in only a few hours on existing trucks as well as to OEM manufacturers. HTK Engineering is a company dedicated to the design, development and production of innovative products to meet the needs of the Transportation industry. We are excited to be involved with Flexpoint on this system, and are pleased that all of the system components are made in America. We expect enhanced media coverage on the project over the coming months as the company prepares for a large scale launch of the product.”
Clark Mower, President of Flexpoint stated, “We are excited about the potential of this application and with the opportunity to work with HTK Engineering. The system has significant potential beyond this specific application. Final testing and integration have been completed and we anticipate beginning production of the system during early 2012. HTK Engineering has recently announced commencement of marketing activities for the system.”
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.
 Flexpoint Sensor Systems
Clark Mower, President
801-568-5111
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Source: Flexpoint Sensor Systems, Inc.
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