PALO ALTO, Calif.--(Southwall Technologies Inc., (OTCBB:SWTX), today announced the acquisition of Crown Operations International, a Wisconsin-based processor of high-performance, heat-reflective interlayers that improve the energy-efficiency of laminated glass in buildings, homes and cars. Such interlayers combine one or two sheets of polyvinyl butyral (PVB) with Southwall’s XIR® infrared reflective film to create a transparent and heat-blocking “super interlayer” that saves energy, reduces carbon emissions and increases building and vehicle occupant comfort.)--
“Alignment with Southwall creates a great opportunity to bring new, energy-saving interlayer products to the market”
"Alignment with Southwall creates a great opportunity to bring new, energy-saving interlayer products to the market," said Curtis Liposcak, president of Crown Operations.
The acquisition highlights Southwall’s focus on vertical integration to offer value-added products and services to its customers. Crown’s laminating and converting capabilities simplify material logistics and facilitate the adoption of high performance interlayers for volume production.
“Crown's proven technology enables Southwall to provide a complete interlayer solution from encapsulation through converting,” said Dennis Capovilla, Southwall’s chief executive officer. “Our goal is to make it easy for manufacturers to integrate the performance of Southwall’s XIR heat-reflective film into their architectural and automotive laminated glass products.”
About Southwall Technologies
Southwall Technologies is the leading innovator of energy-saving films and glass products that dramatically improve the energy efficiency of buildings, homes and cars. Southwall is an ISO 9001/2000/14001 certified manufacturer with customers in over 25 countries around the world.
This press release may contain forward-looking statements, including, without limitation, statements regarding the Company's expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those presented. These risks include the possibility that the Company's expected future results will be materially worse than estimated, that the Company may not continue to be profitable in future quarters or may not be able to achieve future long-term growth, that there will be a decline in one or more portions of our business in 2010 or thereafter, that the Company will not be successful in improving operations performance or controlling costs, that the Company will suffer a decline in manufacturing or financial effectiveness, that the Company's new product development will not be successful, that there may be decreasing demand in certain markets and that the Company will not be able to secure additional financing if required, as well as risks associated with its failure to meet potential covenant requirements under future credit facilities. Further risks are detailed in the Company's filings with the Securities and Exchange Commission, including those set forth in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2009, filed on March 25, 2010.