It is funny that this Company has a market CAP of $10 Million ???
TEL AVIV, Israel, Sept. 25 /PRNewswire/ -- Eshed Robotec (1982) Limited (Nasdaq:ROBOF) today announced that following two weeks of technical feasibility tests in the facilities of Yaskawa Electric Co. of Japan (``Yaskawa''), Yaskawa approved the new concept technology (``NCT'') motion control technology developed by the joint company formed by Eshed Robotec and Yaskawa.
The joint company, which is known as Yaskawa-Eshed Technology Ltd. (``YET'') was established by Eshed Robotec and Yaskawa in December 1996, to develop and manufacture motion control products to be marketed by Yaskawa's world-wide distribution network.
Yaskawa is a multi-national company with a total sales volume of approximately US$ 1.5 billion, dealing mainly in the field of mechatronic products which include MOTOMAN industrial robots, inverters, servo motors, as well as programmable logic controllers, motion controllers and motion drivers.
Upon the conclusion of the feasibility tests, Yaskawa approved the technology and the joint company partners agreed on the products, whose specifications are in final definition stages, to be developed and manufactured by YET. Production of these products is expected to start in the fourth quarter of 1998, at the Company's new facility in Rosh-Ha'Ayin, slightly behind the original time-table.
Eshed Robotec is one of the world leaders in the field of technological education serving technical schools, universities and industry. The Company designs, manufactures, markets and supports a complete range of solutions in the field of Automated Manufacturing Technology (AMT). These products include software and hardware for courses in robotics, Computer Integrated Manufacturing (CIM), vision systems and other subjects. The Company has also developed and markets a small industrial robot through a joint venture with Yaskawa. Eshed's products are marketed through more than 50 distributors in 45 countries worldwide. |
