Liquidmetal Technologies Inc., Rancho Santa Margarita, Calif., announces that it has signed an amended sublicense agreement with Visser Precision Cast LLC (VPC) in which Liquidmetal is freed from its commitment to use VPC as its exclusive contract manufacturer, and VPC is freed from its commitment to use Liquidmetal as its exclusive sales and R&D channel. The new agreement provides both companies with the flexibility to pursue independent sales and manufacturing strategies needed to rapidly grow the market for amorphous metal products.
“We are pleased to have reached this agreement with VPC, as we believe it is in the best interests of both companies,” said Tom Steipp, President and CEO of Liquidmetal. “Under the new agreement, Liquidmetal is able to enter into contracts with other manufacturers to serve a broad array of specialized industries and geographies. We expect a network of manufacturers to leverage their customer relationships to readily identify promising applications, and to leverage their quality certifications and qualified supplier status to rapidly qualify parts for production.”
According to Ryan Coniam, President of VPC, “The agreement between Liquidmetal and VPC is a big step forward for both companies. VPC has made substantial investments in its amorphous metal casting technology and we have proven the promise of this technology for several high-value applications.”
Under the terms of the amended sublicense agreement, VPC will have rights to manufacture, market, and sell amorphous metal products directly to customers, and it will retain a license to the full portfolio of technology developed by Liquidmetal that exists as of the date of the agreement.
Liquidmetal will have rights to contract with manufacturers of its choosing, and it will retain exclusive rights to any technology that Liquidmetal develops after the date of the agreement. The companies will work together to complete certain projects that VPC currently is manufacturing for Liquidmetal customers, and the companies may choose to work together in the future on a project-by-project basis.
