DRAPER, Utah, Oct. 23, 2012 - Flexpoint Sensor Systems, Inc. (OTCBB: FLXT)) announced today that its proprietary Bend Sensor® technology has received key testing validation from Navistar International Corporation. Navistar has been working with Flexpoint on a horn pad sensor product that is designed for the company's full line of trucks. The horn pad sensor is slated for implementation once the next generation of the trucks' electronic architecture is completed. Navistar produces approximately 100,000 trucks annually.
Flexpoint's Bend Sensor® technology has received key validation through Navistar's approval of the extensive testing processes that Flexpoint's product has passed. Flexpoint now has an auto industry veteran aggressively pursuing contacts with other major trucking firms for this product. The horn pad sensor can be readily integrated into the fleets of leading truck manufacturers such as Daimler AG, Volvo and other world leaders.
"We are proud of the work we've done on this horn pad sensor for Navistar and are eager to see it implemented once their new electronic architecture is in place," said Flexpoint CEO Clark Mower. "The successful completion of the rigorous testing and certification process for our product is a significant accomplishment and will create opportunities for other products that we have available for this industry. This certification and testing process is the same required by other manufacturers and now will make it possible for us to take the technology to other manufacturers of heavy trucks including, but not limited to, Kenworth, Volvo and Peterbilt. Having a product completed for a company of Navistar's caliber will provide a great deal of help in moving projects forward with our other industry partners. Not only does this help validate our product, but completion of this nearly universally accepted certification process bodes well as we head into the 2012 SEMA and AAPEX automotive shows at the end of this month. These shows feature 6300 automotive companies, many of which could benefit from our flexible, thinking sensors."
Navistar International Corporation is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines, IC Bus™ brand school and commercial buses and Navistar RV brand of recreational vehicles. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/navistar/news.
Flexpoint Sensor Systems (OTCBB:FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
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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