CALGARY, Sept. 25 /PRNewswire-FirstCall/ - The Westaim Corporation today
announced China's Ministry of Information Industry has identified iFire
Technology's thick dielectric electroluminescent (TDEL) flat panel display
technology as a key area in consumer electronics technologies for research and
product development support by the Chinese government in its 11th Five Year
Plan and 2020 Medium and Long Term Planning Outline.
China's Ministry of Information Industry's 11th Five Year Plan and 2020
Medium and Long Term Planning Outline serves as a blueprint for the development
of China's information industry to serve the national objective and guide
industry development. The Outline shows that China will put emphasis on 15 key
areas to support, including high definition television manufacturing, for the
next five to 15 years. TDEL was highlighted, along with other TV technologies
including liquid crystal display (LCD), plasma and rear projection, as being
important to China's manufacturing strategy.
"The recognition of TDEL as an important consumer electronics technology by
the Chinese government is an endorsement by one of the most significant
consumer electronics manufacturing regions of the world," said Barry M. Heck,
President & CEO, The Westaim Corporation. "We have spent a great deal of time
focusing on China and our inclusion with established flat panel technologies
such as plasma and LCD in the Ministry's outline demonstrates China's interest
in TDEL for the consumer flat panel television industry."
Westaim and iFire are in discussion with a number of companies around the
world, including companies from China and other parts of Asia, for potential
technology development and commercialization arrangements. iFire expects to
commercialize its technology in partnership with industry leaders and plans to
initially target the mid 30- to mid 40-inch screen size consumer television
market segment.
"China has the world's fastest growing economy and is emerging as a
powerhouse in consumer electronics manufacturing," said Nick Khoury, President
of iFire Technology. "China is already well established as the world's leading
manufacturer of CRT televisions and is rapidly gaining recognition as a global
manufacturing centre for flat panel television technologies. Chinese
manufacturers are keenly interested in cost-effective alternative flat panel
technologies from both a capital and module perspective, and we remain
encouraged with our potential manufacturing partnership discussions."
iFire Technology is currently engaged in pilot operations as part of the
first phase of commercialization. Through the pilot facility, iFire intends to
complete the baseline processes for the manufacture of its displays and focus
on continual improvements to both performance and manufacturing efficiency. The
pilot plant will provide information and experience to allow iFire to work with
partners to construct and operate the first volume production facility.
The pilot facility is intended to simulate manufacturing in a commercial
environment in order to generate repeatability data and engineering samples of
high-definition 34-inch flat panel display modules based on its proprietary
TDEL technology.
iFire Technology Corp. has developed a flat panel television display with
low-cost and high performance potential called thick dielectric
electroluminescent technology (TDEL). With superior video performance
characteristics and a cost advantage over other flat panel display
technologies, iFire's proprietary TDEL technology has the potential to become
an affordable, high performance alternative for the consumer flat panel
television market. iFire plans to initially target the mid 30- to mid 40-inch
screen size segment of the flat panel television market in partnership with
major consumer electronics companies.
In addition to iFire Technology, The Westaim Corporation's technology
investments include NUCRYST Pharmaceuticals Corp. (NASDAQ: NCSTV; TSX: NCS),
which develops, manufactures and commercializes medical products that fight
infection and inflammation using its patented atomically disordered
nanocrystalline silver technology. Westaim's common shares are listed on NASDAQ
under the symbol WEDX and on The Toronto Stock Exchange under the trading
symbol WED.
This news release contains forward-looking statements. These statements are
based on current expectations that are subject to risks and uncertainties, and
neither Westaim nor iFire can give assurance that these expectations are
correct. Various factors could cause actual results to differ materially from
those projected in such statements, including but not limited to statements
involving the emphasis that China will place on certain technologies or Chinese
interest in certain technologies including TDEL, the endorsement of TDEL by the
Chinese government, potential or expected iFire commercialization and
partnering activities and strategies, iFire's initial target market for its
displays, the completion of baseline manufacturing processes for iFire displays
and the focus of pilot production, the information and experience anticipated
from the iFire pilot plant and intentions related to the use of that plant,
statements related to planning for iFire's first volume production facility,
the performance and cost characteristics of iFire's displays, iFire's progress
toward engineering samples of its flat panel displays, and the potential for
iFire's technology. Westaim and iFire disclaim any intention or obligation to
revise forward-looking statements whether as a result of new information,
future developments or otherwise. All forward-looking statements are expressly
qualified in their entirety by this cautionary statement.
SOURCE Westaim Corporation
-0- 09/25/2006
/CONTACT: David Wills, Investor Relations, The Westaim Corporation, (416)
504-8464, info@westaim.com, www.westaim.com/
(WED. WEDX)
CO: Westaim Corporation
ST: Alberta
IN: MLM MTC
SU: LIC
-30-
KJ
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