Image Processing orders from Orion build to $4-million
Image Processing Systems Inc IPV
Shares issued 19,902,503 1999-07-16 close $0.68
Monday Jul 19 1999
Mr. Ken Wawrew reports
Recent orders from Orion Electric Co. now bring the total orders from Orion to $4-million for this fiscal year. The company's fiscal year began April 1.
The most recent order from Orion, a subsidiary of the Korean-based giant, Daewoo, totalled 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 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 47 of our flagship ADI 8200 systems, including upgrades, so far this year, an increase of more than 400 per cent 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.
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