GTI Executes Agreement for Manufacturing and Marketing Improved GLS System for High Speed Autoclave-Free Laminating
BENSALEM, PA–(Marketwired – January 08, 2016) – Gyrotron Technology Inc. (OTCBB: GYTI), an industrial process technology company, entered into an agreement with a manufacturer of glass processing equipment to produce the company’s newly improved GLS system for high-speed autoclave free laminating. The GLS technology and equipment is designed for producing a very broad range of laminated glass product, is fully automated and easy to operate, and offers substantial benefits, including reductions in capital costs, labor, energy, and floor space. Pursuant to the agreement both GYTI and the manufacturer will initially market the GLS system and share profit. The manufacturer expects the equipment to be ready for delivery next quarter. GYTI and the manufacturer anticipate negotiating an exclusive license agreement for certain geographic areas later in 2016.
About Gyrotron Technology — (OTCBB: GYTI): GYTI develops and markets unique processing technology solutions for a broad range of industries, including glass, plastics, semiconductors, and food. These utilize the gyrotron, a very powerful source of high-frequency microwave energy, and other sources of electromagnetic energy. The solutions open new horizons, substantially enhancing productivity and cutting costs by, among other things, applying heat in a dramatically more efficient and effective manner than is possible with legacy technologies. Please visit our website http://www.gyrotrontech.com/ for additional information.
Forward-Looking Statements: This release and the materials referred to herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, as they are based on current expectations and assumptions concerning future events or future performance of GYTI. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherent herein and in publically available information on GYTI, including filings with the SEC. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.