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Tactex to license Kinotex technology to Nitta

Posted: 22 Jul 2002 ?? ?Print Version ?Bookmark and Share

Keywords:Kinotex? fiber optic? Nitta? sensors? technologies?

Tactex Controls Inc., a developer of patented fiber-optic based Kinotex products, has signed a letter of intent to sub-license its technology to Nitta Corp. for the Asian market.

This license will give Nitta the right to manufacture and sell non-automotive products based on Kinotex in exchange for an undisclosed advance payment and royalty based on Nitta sales. The license agreement is expected to be concluded later this year.

"This is a strategic step for Tactex," said Rob Inkster, Tactex CEO. "Nitta is one of the major manufacturers of sensor technologies in Japan, and will be capable of growing sales of our technology in this important market. The companies plan to coordinate research and product development activities which will leverage Tactex product development and marketing efforts, especially in the U.S. and Europe."

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