Message #59 From:
NewsBot Date: February 25, 2007 11:00:00 PM
UTK News UTEK Corporation Announces Entering into an Agreement to Search for New Technologies with American Israeli Paper Mills Group, Ltd.
TAMPA, Fla. & HADERA, Israel--(BUSINESS WIRE)--UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a specialty finance company focused on technology transfer, announced that they have signed an agreement with American Israeli Paper Mills Group, Ltd. (AMEX:AIP), a manufacturer and marketer of paper and paper products.
“UTEK looks forward to working with American Israeli Paper Mills Group, Ltd. to identify potential technology acquisition opportunities that fit its strategic vision,” commented Tali Carmi, President of UTEK Israel.
Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice.
About American Israeli Paper Mills Group, Ltd.
The American Israeli Paper Mills Group, Ltd. is an Israeli manufacturer and marketer of paper and paper products. The group was established in 1953 with a single production line for paper. The AIPM Group has since grown and expanded to cover many additional areas of operation. The Group currently manufactures and markets a wide range of paper grades for stationery, printing and various office uses, fluting paper for the corrugated cardboard industry, corrugated board packaging, packaging for consumer goods, office supplies, a wide range of paper products for household use, absorbent products including disposable diapers and feminine hygiene products, as well as various household products. For more information about American Israeli Paper Mills Group, Ltd., please visit its website at www.aipm.co.il.
About UTEK Corporation
UTEK® is a specialty finance company focused on technology transfer. UTEK’s services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B®. In addition, UTEK offers companies the tools to search, analyze and manage university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at www.utekcorp.com.
Forward-Looking Statements
Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as UTEK or American Israeli Paper Mills Group, Ltd. "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or American Israeli Paper Mills Group, Ltd.’s future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK or American Israeli Paper Mills Group, Ltd., as appropriate, and the valuation of UTEK's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK and American Israeli Paper Mills Group, Ltd. believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UTEK and American Israeli Paper Mills Group, Ltd. do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
UTEK's operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UTEK's dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK's future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK's filings with the Securities and Exchange Commission.
