RICHARDSON, Texas, June 19, 2012 (GLOBE NEWSWIRE) -- Optex Systems Holdings, Inc. (OTCBB:OPXS), a leading manufacturer of optical sighting systems and assemblies, primarily for Department of Defense (DoD) applications, has entered into a License Agreement with Synergy International Optronics (SIO). SIO is also a leading manufacturer of optical sighting systems primarily for DoD applications.
Optex Systems has acquired a perpetual, non-exclusive license to use Patent 7,880,792 "Optical and Infrared Periscope with Display Monitor" owned by Synergy.
Optex Systems continues to aggressively pursue additional business, including potentially higher margin periscope business. Danny Schoening, COO of the Company, commented, "We believe that the Synergy Patent license strengthens our long-term commitment to the development of technology-enhanced sighting systems that provide improved vision and a safer environment for military and law enforcement personnel. This license agreement is consistent with our strategy of improving and upgrading existing weapons platforms with cutting edge optical technology."
Synergy International Optronics, LLC has worked with Optex Systems in allowing use of SIO's patent 7,880,792 in an effort to keep SIO's Optical Sighting Technology and innovations in the forefront of military use. Richard Heathcote, President of SIO, commented, " Of course, the number of United States companies active in the optical sighting arena, especially small businesses such as Synergy and Optex, has dwindled to a handful. Mindful of this, my personal commitment to working with others in our field has been one of cooperation and assistance. We all share a primary objective; to provide the most advanced equipment to our men and women, and those of our allies, serving in the Armed Forces."
ABOUT OPTEX SYSTEMS
Optex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.
ABOUT SYNERGY INTERNATIONAL OPTRONICS
Synergy International Optronics, LLC is a company founded in 1995 by innovation in Optical engineering, design and manufacturing. Synergy's optical component, coating, filters and systems technology is unparalleled. Our customers are provided with the most personal service, best value and quality that the industry has to offer. Synergy's mission in becoming the leading producer and designer of Sighting Systems such as those in the M1117 Armored Security Vehicle and AAV both Image Intensified and Thermal for the military is strengthened by its ability to access and utilize its full in-house complement of Optical Disciplines.
Safe Harbor Statement
This press release and other written reports and oral statements made from time to time by the Company may contain so-called "forward-looking statements," all of which are subject to risks and uncertainties. You can identify these forward-looking statements by their use of words such as "expects," "plans," "will," "estimates," "forecasts," "projects" and other words of similar meaning. You can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address the Company's growth strategy, financial results and product and development programs. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially.
The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.