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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
JANUARY 25, 2000
PIXTECH, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-26380 04-3214691
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
AVENUE OLIVIER PERROY, 13790 ROUSSET, FRANCE
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code:
011-33-4-42-29-10-00
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ITEM 5.
On January 25, 2000, PixTech, Inc. ("PixTech" or the "Company") announced an
agreement with Audi A.G. and other parties to jointly design, develop, test and
deliver a 7-inch color field emission display for automotive applications.
PixTech is expected to receive 1.78 million EURO in funding from the European
Commission. The Company's press release announcing this transaction is filed as
Exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits
99.1 Press Release issued by the Company on January 25, 2000. Filed
herewith.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
February 8, 2000 PIXTECH, INC.
By: /s/ Marie Boem
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Marie Boem
Interim Chief Financial Officer
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EXHIBIT INDEX
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99.1 Press Release issued by the Company on January 25, 2000. Filed
herewith.
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EXHIBIT 99.1
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PixTech Announces Joint Development Agreement with AUDI
- European Commission IST to sponsor FED development -
FOR RELEASE: Jan 25, 2000
Santa Clara, Calif. and Rousset, France, January 25, 2000- PixTech, Inc.
(NASDAQ/NM and EASDAQ: PIXT) today announced an agreement with AUDI and other
partners to jointly design, develop, test and deliver a 7-inch color field
emission display (FED) for automotive applications. This agreement is part of a
European Commission IST Program. Under the terms of the agreement, PixTech will
receive funding from the European Commission of approximately 1.78 Million EURO
to design and develop the FED display. AUDI will perform the testing and
evaluation.
Dieter Mezger, President and CEO of PixTech stated, "We are very pleased to be a
part of this program and look forward to its success. Development of a 7-inch
color FED would broaden our product line and ultimately provide automobile
manufactures with a viable option to improve car information systems."
The development program will begin in January 2000 with PixTech expected to
deliver qualified FED displays for testing within eighteen-months. These FEDs
will be 7-inch (diagonally), full color, have a 16:9 aspect ratio with 480 x 234
resolution and will be true video rate capable.
Bernhard Senner, AUDI project leader commented, "PixTech's FED technology offers
display performance characteristics tailored for the automotive market. Viewing
angle, fast display response time, and ability to operate in extreme temperature
conditions are all essential elements of a superior driver information system."
Upon successful completion of testing, these displays will be used for
navigation, entertainment, and as a multi-functional display in the AUDI A8
automobile with other AUDI models to follow.
Partners of the 3 Million Euro European Commission IST funded project include
PixTech, AUDI, XSYS, LETI, and SAES Getters. PixTech will be responsible for the
development and manufacturing of the FED displays. AUDI, a subsidiary of
Volkswagen, with be responsible for testing and evaluation. XSYS, a subsidiary
of Harman International, will be responsible for systems integration. LETI
(Laboratoire d'Electonique de Technologie et d'Instrumenations), the research
arm of CEA (Commissariat a l'Energie Atomique- the French atomic agency), will
be responsible for special tasks and SAES Getter, a world leader in getters,
will optimize getter materials for FEDs.
ABOUT AUDI.
AUDI is a German car manufacturer, which belongs to the VOLKSWAGEN group. The
Company has manufacturing plants in Ingolstadt (Germany), Neckarsulm (Germany)
and Gyoer (Hungary) with a total capacity of 600 000 cars a year. AUDI is
oriented towards quality and technological innovation in cars. Quattro, TDI,
aluminum body and state of the art electronic equipment, are all representative
of the AUDI slogan "advantage by technology". As an early integrator of graphic
displays for car information systems, AUDI has extensive interest in new display
technologies.
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ABOUT PIXTECH, INC.
PixTech designs, develops and manufactures field emission displays (FEDs), a new
type of flat-panel display. The Company operates a flat-panel display pilot
manufacturing facility in Montpellier, France, an R&D facility in Boise, Idaho,
and has offices in Boise (Idaho), Santa Clara (California), and Rousset
(France). PixTech is currently developing high-volume manufacturing capabilities
for its FEDs in Taiwan under a contract manufacturing arrangement with Unipac, a
Taiwanese AM-LCD manufacturer. PixTech has also established a marketing
partnership with Sumitomo Corporation, the exclusive distributor in Japan. More
information is available from the Company's web site at http://www.pixtech.com
Statements that are not historical facts, including statements about PixTech's
confidence and strategies, the development of new or existing products,
technologies and opportunities, marked demand or acceptance of new or existing
products are forward-looking statements that involve risks and uncertainties.
These uncertainties include but are not limited to, the risk associated with
transitioning to high volume manufacturing of FED displays at Unipac, product
demand and market acceptance risks, commitment of Unipac and/or of PixTech
licensees, ability of the Company to grant other licenses under FED technology,
validity and enforceability of PixTech's patent rights, infringement by PixTech
of other patent rights, impact of competitive product and prices, product
development, commercialization or technological delays or difficulties, trade,
legal, social and economic risks detailed in PixTech's Securities and Exchange
Commission filing including its form 10-K for the year 1998 and any subsequent
filings.
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