Press Release
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LAKE FOREST, Calif.--(BUSINESS WIRE)--Feb. 6, 2004-- Liquidmetal(R) Technologies, Inc. (Nasdaq:LQMT) and Rawlings Sporting Goods Company, a subsidiary of K2 Inc. (NYSE:KTO), announced today that they have signed a new, multi-year exclusive agreement to develop the next standard in high-performance baseball equipment utilizing Liquidmetal(R) alloys.
This new pact follows last year's launch of Rawlings' inaugural line of baseball and softball bats featuring Liquidmetal Pure Energy Transfer(TM) technology and extends a previous license and product development agreement. Rawlings and Liquidmetal Technologies have been working together on the development of breakthrough innovations in performance bats since 2001.
"The launch of the Liquidmetal line has been the most successful bat introduction in Rawlings' history," reports Stan Lippelman, Rawlings' Vice President of Marketing. "While Rawlings has historically dominated the glove and ball product market, we have always had opportunities for growth in performance bats. The Liquidmetal line is catapulting us into this category. It's a perfect combination: the number one baseball brand in the world, and the performance and branding power of Liquidmetal(R) technology."
Rawlings is the number one brand of fielding gloves, batter's helmets, baseballs and catcher's protective equipment, and the number two brand in wood bats, according to Lippelman. Rawlings is also the Official Baseball of Major League Baseball, Minor League Baseball and the NCAA, and the Official Helmet of Major League Baseball.
The current Rawlings(R) Liquidmetal(R) product group features a full range of metal performance bats in four categories--youth, high school/collegiate and senior league baseball, and fast pitch softball. Under the new agreement, Rawlings maintains an exclusive license to develop and market Liquidmetal technology in the softball and baseball category, in exchange for royalties to Liquidmetal Technologies on all product sales. Through joint development efforts, the two companies intend to improve and expand upon current bat products as well as explore opportunities for other baseball and softball-related product applications.
Peter Thomson-Smith, Vice President-Sports and Leisure Products for Liquidmetal Technologies, said, "Our success with Rawlings has been exciting and gratifying, and we look forward to expanding the relationship and product offerings under the new agreement. Combined with the overwhelming response to last year's launch of the award-winning HEAD Liquidmetal(R) tennis racquet line, 2003 was truly a turning point for Liquidmetal Technologies in the high-profile realm of competitive sports. Our goal is to capitalize and build on that momentum in 2004 with innovative new sporting goods products."
About Liquidmetal Alloys
Liquidmetal(R) alloys are a product of Lake Forest, California-based Liquidmetal Technologies, Inc. (Nasdaq:LQMT), the leading developer of coatings, powders, bulk alloys and composites that utilize the performance advantages offered by amorphous alloy technology. Amorphous alloys are unique materials that are distinguished by their ability to retain a random atomic structure when they solidify, in contrast to the crystalline atomic structure that forms in ordinary metals and alloys. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries.
For additional product and marketing contact information, please visit the Liquidmetal Technologies website at www.liquidmetal.com, or direct phone inquiries to Liquidmetal Technologies-Marketing at 949-206-8021.
About Rawlings Sporting Goods Company, Inc.
Rawlings, a K2 Inc. company, is a leading marketer and manufacturer of baseball equipment and other sporting goods in the United States. Rawlings is the official baseball of Major League Baseball and the NCAA(R) baseball championships and the official helmet of Major League Baseball. More Major League players choose a Rawlings' glove than any other brand, including such stars as Derek Jeter, Alex Rodriguez, Ken Griffey, Jr., Randy Johnson, Troy Glaus, Torii Hunter, Shawn Green, Jim Edmonds, Mike Piazza, Nomar Garciaparra, Barry Zito, Mark Prior and Pedro Martinez. Rawlings is also the official basketball for the NAIA, NJCAA, AAU and many other organizations, as well as official football of the NAIA. Rawlings is the official basketball, football, baseball, softball, volleyball and soccer ball of the National High School Federation.
This press release may contain "forward-looking statements" that involve risks and uncertainties, including statements regarding our plans, future events, objectives, expectations, forecasts, or assumptions. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and in some cases, words such as "believe," "estimate," "project," "expect," "intend," "may," "anticipate," "plans," "seeks," and similar expressions identify forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes and results to differ materially from the anticipated outcomes or result, and undue reliance should not be placed on these statements. These risks and uncertainties may include: our limited operating history in developing and manufacturing products from bulk amorphous alloys; the adoption of our alloys by customers; the commercial success of our customer's products; our ability to identify, develop, and commercialize new applications for our alloys; competition with suppliers of incumbent materials; the development of new materials that render our alloys obsolete; the ability to manage our anticipated growth; our limited direct experience in manufacturing bulk alloy products; scaling-up our manufacturing facilities; protecting our intellectual property; problems associated with manufacturing and selling our alloys outside of the United States; and other risks and uncertainties discussed in filings made with the Securities and Exchange Commission (including risks described in subsequent reports on Form 10-Q, Form 10-K, Form 8-K, and other filings). Liquidmetal Technologies disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: Liquidmetal(R) Technologies, Lake Forest
Media:
Otis Buchanan, 949/206-8020
otis.buchanan@liquidmetal.com
or
Investors:
David Townsend, 813/314-0280
david.townsend@liquidmetal.com
SOURCE: Liquidmetal(R) Technologies