biz.yahoo.com
Monday July 19, 9:41 am Eastern Time
Company Press Release
IPS Orders From Orion Build To $4 Million - IPS Unit Sales Increase by 400 Percent
MARKHAM, ONTARIO--(BUSINESS WIRE)--July 19, 1999--(TSE:IPV. - news) Image Processing Systems Inc. (TSE:IPV - news) - under its trade name IPS Automation - announced today that recent orders from Orion Electric Co., Ltd. now bring the total orders from Orion to $4 million for this fiscal year. IPS' fiscal year began April 1.
The most recent order from Orion, a subsidiary of the Korean-based giant, Daewoo, totaled more than $360,000, and included two ADI 8200 display inspection and alignment systems as well as supporting equipment. The systems, to be installed in Orion's manufacturing plants in Cumi, Korea, will be used to inspect and align computer monitor tubes.
''IPS is a world leader and we are proud to use their products in our factories around the world,'' said Mr. S. Y. Han, Manager of Orion Electric Co., Ltd.
''Asia, and in particular Korea, appears to be recovering well from its recent economic crisis. Based on our latest new orders from this region, it is evident that the demand for computer monitors is growing faster than anyone expected,'' comments Ken Wawrew, IPS President and Chief Executive Officer. ''We have already sold forty-seven of our flagship ADI 8200 systems, including upgrades, so far this year, an increase of more than 400 percent from this time last year!''
IPS Automation is a complete electronic vision systems provider. The company's automated display inspection and alignment (ADI) systems are recognized as the best in the world for display manufacturers. IPS also provides advanced inspection solutions for the automotive glass and brewing industries, developed in close co-operation with key customers.
IPS Automation, an ISO 9001 and IQNET certified company, is listed on the Toronto Stock Exchange under the symbol IPV and has offices and representatives in Brazil, Canada, China, Japan, Korea, The Netherlands, Taiwan and the United States. Blue-chip customers worldwide use IPS Automation's solutions.
Copies of our press releases are available on the IPS website at www.ipsautomation.com.
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