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Forward Signs Supplier Agreement Extension with Bayer Healthcare

WEST PALM BEACH, Fla., Aug. 25, 2015 (GLOBE NEWSWIRE) -- Forward Industries, Inc. (NASDAQ:FORD), a designer and distributor of custom carry and protective solutions, today announced they have signed an extension with Bayer Healthcare LLC to supply Global custom carry cases for their diabetic products through the end of 2018.

Bayer Healthcare has been a significant customer of Forward in the past several years and its current supplier agreement pursuant to which Bayer Healthcare purchases certain products from Forward was due to expire at the end of 2016. The extension specifies the price at which Bayer Healthcare may purchase products from Forward with the volume of purchases to be determined by Bayer Healthcare at a later date.

Terry Wise, Chief Executive Officer of Forward Industries, stated, “Getting this supplier extension from one of the major players in the industry is testament to our ability to supply quality products on a timely basis. Additionally, our ability to meet complex compliance requirements in a highly regulated industry gives us a significant advantage over our competitors. We are consistently given high ratings in quality performance from all our multi-national clients.”

About Forward Industries

Incorporated in 1962, and headquartered West Palm Beach, Florida, Forward Industries is a global designer and distributor of mobile device cases and accessories. Forward’s products can be viewed online at www.forwardindustries.com.

Cautionary Note Concerning Forward-Looking Statements

In addition to the historical information contained herein, this press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that reflect Forward’s current expectations and projections about its future results, performance, prospects and opportunities. Forward has tried to identify these forward-looking statements by using words such as “may”, “should,” “expect,” “hope,” “anticipate,” “believe,” “intend,” “plan,” “estimate” and similar expressions. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause its actual results, performance, prospects or opportunities in the 2015 quarter and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. No assurance can be given that the actual results will be consistent with the forward-looking statements. Investors should read carefully the factors described in the “Risk Factors” section of the Company’s filings with the SEC, including the Company’s Form 10-K for the year ended September 30, 2014 for information regarding risk factors that could affect the Company’s results. Except as otherwise required by Federal securities laws, Forward undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.


Contact: Forward Industries, Inc. Michael Matte, CFO (561) 465-0031

Source:Forward Industries, Inc.