InVision Technologies Announces $2 Million EDS Order From El Al Israel Airlines
September 28, 2001 09:00:00 (ET)
NEWARK, Calif., Sep 28, 2001 (BUSINESS WIRE) -- InVision Technologies, Inc., (INVN, Trade) said today it has received an order valued at approximately $2 million for two CTX 5500DS Explosive Detection Systems (EDS) and related services from El Al Israel Airlines, Ltd. The company said it expects to record the revenue from the order in the third quarter.
This new order follows a $1.3 million order from El Al for CTX 2500 EDS systems announced last November. "El Al, which has one of the most sophisticated security organizations in the world, has been a customer of InVision since 1994. The depth of our relationship with El Al is further evidence of our leadership position in the industry," said Sergio Magistri, president and chief executive officer of InVision.
"This ongoing purchase of InVision's CTX explosive detection systems is part of a planned strategy by El Al to use CTX devices at all of its stations throughout the world. El Al has indicated that they are planning to double the number of CTX machines in use during the next few years," he added.
The company also said that it would be responsible for ongoing service and maintenance of its devices used by El Al under a service contract that was recently extended through the end of 2002.
InVision Technologies develops, manufactures, markets and supports explosive detection systems based on advanced Computed Tomography (CT) technology to provide the traveling public with the best security against terrorism available. The company, which offers a family of explosive detection systems (EDS) with capabilities for smaller airports to large hubs, has more than 90 percent of the worldwide certified EDS market, and has more than 250 FAA-certified CTX systems shipped worldwide.
InVision's wholly-owned subsidiary, Quantum Magnetics, develops and commercializes patented and proprietary technologies, including Quadrupole Resonance (QR) patents licensed from the Naval Research Laboratory that are based on state-of-the-art, low-cost versions of magnetic resonance adapted for explosives detection. This includes Quantum's QScan(R) line of aviation scanners and other explosive detection devices under development, including a hand-held wand and a prototype walk-through portal to screen airline passengers for explosives. Quantum's QR technology is considered to be the most promising landmine detection technology. Quantum is developing devices under multi-year contracts with the U.S. military. Quantum is also developing passive magnetic concealed weapons detection portal systems for aviation passenger screening.
Additionally, InVision is active in the forest products industry through Inovec, its wholly owned subsidiary, which manufactures and markets scanning optimization and control systems for the industry and has more than 600 systems installed worldwide. In addition, through WoodVision, the company continues to develop its CT technology for wood scanning. Additional information about InVision can be obtained on the company's web site at invision-tech.com. |
