Industry News

FFI Announces Japanese License Agreement

Published on 2006-08-14. Author : SpecialChem

INDIANAPOLIS, INDIANA -- Fortune Industries, Inc. (AMEX:FFI) announces that Nor-Cote International, Inc. ("Nor-Cote"), a wholly-owned subsidiary, has entered into a licensing agreement with Mino International, Ltd. ("Mino") of Minami, Japan.

Under terms of the agreement, Nor-Cote granted to Mino a license and technology transfer to manufacture, market and sell UV curable inks to specific global markets and customers. The companies will also jointly develop products primarily focused on the Japanese automotive industry. Additionally, Nor-Cote will supply materials for future Mino production.

"Over the next 36 months, we believe that the market conditions will shift consumption in Asia from solvent-based to ultraviolet ink applications due to substantially faster processing speeds, reduced floor space requirements, energy savings, and its environmental-friendly impact. Our strategic advantages in membrane switch technology, spacer inks, and in-mold design provides significant value to businesses such as Mino's customer's operations. We are excited about this licensing agreement and believe we are positioned for similar future growth opportunities," stated John Fisbeck, CEO.

Mino is a Japanese manufacturer in the field of conventional solvent based screen printing inks. Mino also commercializes products previously invented or otherwise produced by other parties in the field of ultraviolet-curable screen printing inks.

Nor-Cote is a manufacturer of ultraviolet ("UV") curable screen printing inks. Nor-Cote's products are used for flat-screen and, rotary-screen printing on many types of plastics, metals, and other substrates compatible with the UV curing process. Typical applications are plastic sheets, loose-leaf binders, bottles & containers, CD/DVD disks, rotary-screen printed labels, POP, decal, membrane switch overlays and electroluminescent lamps.

About Fortune Industries, Inc.:

Fortune Industries provides technology solutions to businesses categorized in three operating segments, Wireless Infrastructure, Ultraviolet Technologies & Electronics Integration, and Human Resource Solutions. The Wireless Infrastructure segment provides wireless turnkey solutions directly to carriers in 20 states and provides other specialty infrastructure services. The Ultraviolet (UV) Technologies and Electronics Integration segment provides worldwide state - of-the-art UV ink technology solutions and sales and installation of commercial electronics. The Human Resource Solutions segment provides professional employment organization (PEO) services to small and medium sized businesses with up to 1,000 employees in over 30 states including human resource consulting & management, employee assessment, training, and benefits administration. Fortune Industries is publicly traded on the American Stock Exchange under the symbol FFI.

Source: Fortune Industries, Inc.

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