thinXXS Microtechnology AG, Zweibrucken, has announced a change of name and legal status as of December 19, 2005. The former limited liability company has now become a stock company.
With this conversion the market leader in plastic microfluidic and micro-optic components and systems continues to persue its growth strategy.
The increase in flexibility for obtaining fresh capital is likely to prove especially advantageous for large investments such as the expansion of the worldwide sales activities or the extension of production capacity.
Lutz Weber and Hans-Joachim Hartmann, the company founders and previous General Managers, were appointed as Members of the Executive Board.
Ownership remains unchanged as well: besides the two founders, the stock holders of thinXXS Microtechnology AG are PRICAP Venture Partners AG, Hamburg, GAM GmbH Management Consulting, Unterhaching, as well as FIB Fonds für Innovation und Beschäftigung Rheinland-Pfalz Unternehmensbeteiligungsgesellschaft mbH and Wagnisfinanzierungsgesellschaft für Technologieförderung in Rheinland-Pfalz mbH, both located in Mainz.
"The successful financial year 2005 and the plans for further growth suggested this step as the best course to follow ", explains the Chairman of the Supervisory Board and Chief Executive Officer of PRICAP, Wolfgang Biedermann.
To this the Executive Board Members, Hartmann and Weber, add, "With this change in legal status we acquired a financial flexibility for our increasingly dynamic development, which we never would have had if we had stayed a limited liability company."