FLI CHARGE PARTNERS WITH TIER-1 AUTO SUPPLIER PAPP PLASTICS & DISTRIBUTING LTD.
(Thomson Reuters ONE) -
FLI Charge Will Expand Charging and Power Ecosystem Within the Automotive
Industry with Papp Plastics as Official Auto Supplier
NEW YORK, NY - September 13, 2016 - FLI Charge, a technology company that offers
the fastest and most powerful charging solution for virtually all mobile devices
including smartphones and tablets, today announced its official partnership with
Papp Plastics & Distributing Ltd., a tier-1 and tier-2 auto supplier. Papp
Plastics currently manufactures an assortment of plastic products production
parts and OEM accessories to most of the major OEMs in North America.
The collaboration with Papp Plastics is just one example of FLI Charge's efforts
to expand the FLI Charge ecosystem, delivering easier access to power and
charging to major markets. As part of the partnership, Papp Plastics will
incorporate FLI Charge's technology into various locations in vehicles, and into
other auto accessories. With over 25 years of experience, Papp Plastics is
acknowledged as a leader in plastic molding manufacturing. FLI Charge and Papp
Plastics anticipate providing a wide array of demos at the SEMA Show this
November.
"FLI Charge's technology is unlike any we've seen. Its ability to provide power
at much higher levels, combined with its relatively low cost has already ignited
interest with the auto makers. It is crucial for us that our clients have access
to the latest in technology, especially as it relates to in-car charging, which
is a constant need in the automotive space. Now, people will have the ability to
charge multiple devices on one charging surface regardless of their
positioning," said Michael Papp, President of Papp Plastics & Distributing Ltd.
"Automotive is one of the most important target markets for our company," said
Cliff Weinstein, President of FLI Charge, "The partnership we are announcing
today will make FLI Charge's technology available to Papp's client list, which
consists of nearly every auto manufacturer in the world, at the OEM level, and
will play a significant role in growing the FLI Charge ecosystem. Papp's
expertise in developing interior consoles, plastics and molding, makes the
potential to develop new products with their team an exciting opportunity," Mr.
Weinstein concluded.
About FLI Charge
Based in New York, FLI Charge designs, develops, manufactures and markets
wireless conductive power and charging solutions. Its patented technology is the
only wireless power solution that is fully interoperable between different types
of devices. The FLI Charge family of products are easily integrated into your
everyday life and simple to use. For more information, visit: www.FLICharge.com
About PAPP Plastics
PAPP Plastics & Distributing Ltd. is an award winning Canadian-based plastics
parts manufacturer headquartered in Windsor, Ontario. Operations are in Canada,
South America, Mexico and China. Established in 1991, PAPP Plastics is a tier-
one and tier-two supplier for the world's major automobile companies. PAPP
Plastics manufactures an assortment of plastic parts/ assemblies and molds for
both automotive interiors and exteriors; this includes large painted "Class A"
surface parts. Primary manufacturing capabilities include injection molding, as
well as sonic and vibration welding, painting and secondary assembly operations.
Its press tonnage ranges from 150T to 3000T for injection and specializes in
rotary two shot molding of multi material applications. For more information,
visit: www.PappPlastics.com
About FORM Holdings Corp.
FORM Holdings Corp. (NASDAQ: FH) is a publicly held diversified holding company
that specializes in identifying, investing in and developing companies with
superior growth potential. FORM's current holdings include Group Mobile, FLI
Charge, Infomedia and intellectual property assets. Group Mobile is a provider
of rugged, mobile and field-use computing products, serving customers
worldwide. FLI Charge designs, develops, licenses, manufactures and markets
wireless conductive power and charging solutions. Infomedia is a leading
provider of customer relationship management and monetization technologies to
mobile carriers and device manufacturers. FORM Holdings' intellectual property
division is engaged in the development and monetization of intellectual
property. To learn more about Form Holdings Corp., visit: www.FormHoldings.com.
Forward-Looking Statements
This press release includes forward-looking statements, which may be identified
by words such as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein. Statements in
this press release regarding the proposed merger between FORM and XpresSpa; the
expected timetable for completing the transaction; the potential value created
by the proposed merger for FORM's stockholders and XpresSpa's equity holders;
the potential of FORM's business after completion of the merger; XpresSpa's
projected revenue, the ability to raise capital to fund operations and business
plan; the continued listing of FORM's securities on the Nasdaq Capital Market;
market acceptance of FORM products; the collective ability to protect
intellectual property rights; competition from other providers and products;
FORM's management and board of directors after completion of the Merger; and any
other statements about FORM's or XpresSpa's management teams' future
expectations, beliefs, goals, plans or prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. There are a number of important factors that could cause actual results or
events to differ materially from those indicated by such forward-looking
statements, including, but not limited to: the risk that FORM and XpresSpa may
not be able to complete the proposed transaction; the inability to realize the
potential value created by the proposed merger for FORM's stockholders; FORM's
inability to maintain the listing of its securities on the Nasdaq Capital Market
after completion of the merger; the potential lack of market acceptance of
FORM's products; FORM's inability to monetize and recoup FORM's investment with
respect to assets and other businesses that that were acquired or will be
acquired in the future; general economic conditions and level of information
technology and consumer electronics spending; unexpected trends in the mobile
phone and telecom computing industries; the potential loss of one or more of
FORM's significant Original Equipment Manufacturer ("OEM") suppliers, the
potential lack of market acceptance of FORM's products; market acceptance,
quality, pricing, availability and useful life of FORM's products and services,
as well as the mix of FORM's products and services sold; potential competition
from other providers and products; FORM's inability to license and monetize
FORM's patents, including the outcome of litigation; FORM's inability to develop
and introduce new products and/or develop new intellectual property; FORM's
inability to protect FORM's intellectual property rights; new legislation,
regulations or court rulings related to enforcing patents, that could harm
FORM's business and operating results; FORM's inability to retain key members of
its management team; and other risks and uncertainties and other factors
discussed from time to time in our filings with the Securities and Exchange
Commission ("SEC"), including FORM's Annual Report on Form 10-K for the year
ended December 31, 2015 filed with the SEC on March 10, 2016. Investors and
stockholders are also urged to read the risk factors set forth in the proxy
statement/prospectus carefully when they are available. FORM expressly disclaims
any obligation to publicly update any forward-looking statements contained
herein, whether as a result of new information, future events or otherwise,
except as required by law.
Important Additional Information Filed with the SEC
This communication does not constitute an offer to sell or the solicitation of
an offer to buy any securities of FORM, or XpresSpa or the solicitation of any
vote or approval. In connection with the proposed transaction, FORM filed with
the SEC a Registration Statement on Form S-4 containing a proxy
statement/prospectus. The proxy statement/prospectus contains important
information about FORM, XpresSpa, the transaction and related matters. FORM will
mail or otherwise deliver the proxy statement/prospectus to its stockholders
when it will be declared effective by the SEC. Investors and security holders of
FORM and XpresSpa are urged to read carefully the proxy statement/prospectus
relating to the proposed merger (including any amendments or supplements
thereto) in its entirety because it contains important information about the
proposed transaction.
Investors and security holders of FORM will be able to obtain free copies of the
proxy statement/prospectus for the proposed merger and other documents filed
with the SEC by FORM through the website maintained by the SEC at www.sec.gov.
FORM and XpresSpa, and their respective directors and certain of their executive
officers, may be deemed to be participants in the solicitation of proxies in
respect of the transactions contemplated by the merger agreement between FORM
and XpresSpa. Information regarding FORM's directors and executive officers is
contained in FORM's Annual Report on Form 10-K for the fiscal year ended
December 31, 2015, which was filed with the SEC on March 10, 2016. Information
regarding XpresSpa's directors and officers and a more complete description of
the interests of XpresSpa's directors and officers in the proposed transaction
is available in the proxy statement/prospectus that was filed by FORM with the
SEC in connection with the proposed transaction.
Contacts:
FORM Holdings
212-309-7549
info(at)FORMHoldings.com
FLI Charge
212-309-7549
info(at)FLICharge.com
PAPP Plastics & Distributing Ltd.
519-734-1112
sales(at)PappPlastics.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FORM Holdings Corp. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 13.09.2016 - 14:30 Uhr
Sprache: Deutsch
News-ID 494469
Anzahl Zeichen: 12279
contact information:
Town:
New York
Kategorie:
Business News
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"FLI CHARGE PARTNERS WITH TIER-1 AUTO SUPPLIER PAPP PLASTICS & DISTRIBUTING LTD."
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