National-Standard Announces that it has Licensed GridShield Technology
1 February 2000
National-Standard Announces that it has Licensed GridShield(TM) Technology to Nicholas PlasticsNILES, Mich., Jan. 31 -- National-Standard (Amex: NSD) announced today that it has licensed Nicholas Plastics (through its N-K Manufacturing Technologies Molding Group) to produce its proprietary GridShield(TM) product line. Located in central Michigan, Nicholas Plastics and N-K have been serving the needs of the automotive, appliance, and office furniture market for over 25 years. The markets for this product line include: * Automotive - Dashboard Electronic Components (Radios, HVAC Controls, displays, etc.) - Electronic Systems Controls (Air Bags, Engine, Antilock Brakes) - Small Electric Motors (Wiper, Seat, Mirror) * Telecommunications - Cellular Phone Cases * Computers - Laptop Covers - Charger Units - Peripheral Components * Portable Medical Devices This technology has been under development for several years, and National-Standard has five patent applications submitted. National-Standard will produce the specialized wire mesh that is the key component necessary to provide shielding for the various applications. N-K will produce the final shielded part using their expertise in insert molding. The final product will compete against other shielding technologies, including sheet metal, die cast, conductive polymers, and conductive painted and plated parts. Features the new technology offers include reduced weight, improved shielding, cost reduction, and enhanced features. "We've developed this technology over a number of years and are delighted to work with N-K to commercialize GridShield(TM) in this exciting and growing marketplace," said Ronald B. Kalich, President and Chief Executive Officer. Founded in 1907, National-Standard is a Niles, Michigan based firm with annual sales of approximately $180 million. In ten operating facilities in the United States and England, the Company manufactures and distributes a broad range of wire and wire-related products, including tire bead wire and welding wire, in addition to wire cloth, fabricated filters and inflator housings for the automotive air bag industry. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, relating to the acceptance of a new shielding technology by the automotive, telecommunications, computer and medical devices industries. The ability of the Company to achieve acceptance of its new shielding process by the named industries is subject to risks and uncertainties, including, but not limited to, the granting of patent protection, the response of competitive products and pricing, changes in product demand by customers, availability and cost of raw materials, and changes in economic conditions. Should any one or more of these risks or uncertainties materialize, actual performance results will vary materially. The Company does not intend to update these forward-looking statements.