For Immediate Release
SYMYX TECHNOLOGIES ANNOUNCES COLLABORATION WITH EXXONMOBIL CHEMICAL FOR PRODUCTION OF OLEFINS
January 29, 2001
SANTA CLARA, CA & HOUSTON, TX -- Symyx Technologies, Inc. (Nasdaq:SMMX) today announced that it has entered into a research and development agreement with ExxonMobil Chemical Company to add Symyx' high speed catalyst discovery technologies to ExxonMobil Chemical's research and development efforts for the production of olefins. Olefins, which are basic building block petrochemicals, are the key components in a wide variety of plastics used in disposable and durable consumer goods.
"This is our second agreement with ExxonMobil, following their purchase of a Symyx Discovery Tools system this past October," stated Steve Goldby, chairman and chief executive officer of Symyx. "This agreement further reinforces our strategy of offering both research services and the sale of instruments and software to build strong customer relationships."
"We are very excited about our collaboration with Symyx. By working together, we expect to increase the pace of innovation in research and development (R&D) at ExxonMobil Chemical," said Emil Jacobs, vice president of basic chemicals and intermediates technology at ExxonMobil Chemical Company. "We are pleased to add the application of Symyx' high speed catalyst discovery technologies to our R&D capabilities. This capability will complement our ongoing olefins technology programs."
With marketing and operations in more than 120 countries around the world, ExxonMobil Chemical Company and its affiliates are global industry leaders in petrochemical products, technology, product quality and customer service. ExxonMobil Chemical Company is a division of ExxonMobil Corporation. Additional information regarding ExxonMobil Chemical Company can be found at www.exxonmobilchemical.com.
Symyx develops and applies high-speed combinatorial technologies to the discovery of materials for life science, chemical and electronics applications. Symyx provides research services to its partners through its Industry Collaborations business, seeks to discover its own materials through its Proprietary Materials programs, and offers selective access to its proprietary technologies, including instruments, software and intellectual property, through its Discovery Tools(TM) Technology Access business.
Symyx partners and customers include some of the leading life science and chemical companies in the world, including Agfa, Applied Biosystems, BASF, Bayer, Celanese, Dow, ExxonMobil, and Unilever. Information about Symyx, including reports and other information filed by the Company with the Securities and Exchange Commission, is available on the worldwide web at www.symyx.com or by phoning 408-764-2033. "Symyx" and the diamond shaped logo are registered trademarks and servicemarks of Symyx Technologies, Inc. Other trademarks of Symyx Technologies, Inc. include "Discovery Tools", "Endeavor" and "Celero".
Certain statements in this press release are forward-looking and involve risks and uncertainties. These may be identified by the use of forward-looking words or phrases such as "believe," "expect," "intend," "anticipate," "should," "planned," "estimated," and "potential," among others. These forward-looking statements are based on Symyx Technologies' current expectations. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with the terms of the safe harbor, Symyx Technologies notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. The risks and uncertainties that may affect the operations, performance, development, and results of Symyx Technologies businesses include but are not limited to (1) market acceptance of Symyx' products and services; (2) uncertainties relating to the pace, quality or number of discoveries of new materials; (3) the dependence on collaborators to successfully commercialize products; (4) uncertainties of patent protection and litigation; (5) future growth strategy; (6) general economic conditions in the United States and in major European and Asian markets; (7) earthquakes; (8) and other factors that might be described from time to time in Symyx Technologies' filings with the Securities and Exchange Commission. These filings include our Form 10-K for fiscal year 1999 and our Form 10-Q reports for fiscal year 2000.
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