FARO Technologies Wins $325K Boeing Contract
PR Newswire - November 22, 1999 12:37
LAKE MARY, Fla., Nov. 22 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO), the
leading manufacturer of three-dimensional (3D) measuring equipment and software, has been awarded a
$325 thousand contract by Boeing Information, Space, and Defense Systems to provide
Computer-Aided Manufacturing Measurement (CAM2) services on the Air Borne Laser (ABL)
Program. The ABL will be used for defense against theater ballistic missiles during their boost phase.
The Program Definition and Risk Reduction (PDRR) contract includes the engineering and quality
verification of the identified 3D engineering coordinate locations used for the installation of a high-energy
airborne laser weapon system on a modified Boeing 747-400F aircraft.
Through its technical and product capabilities, FARO is successful at integrating computer-aided
manufacturing measurement solutions throughout the manufacturing process, as proven on many
programs such as the Joint Strike Fighter (JSF) and the F-22 Programs. FARO's measurement system
provides real-time, fast, and accurate 3D graphical data at a minimal cost.
"The FARO team will provide exclusive computer-aided manufacturing measurement (CAM2) solutions
for direct CAD integration into the modified 747-400F aircraft manufacturing processes," said John
Patrick Batache, Executive Director, Operations at FARO Technologies, Inc. "We have earned this
contract, based on technical merits and outstanding performance during crunch times on critical military
and commercial programs. We intend to maintain this reputation of delivering quality products and
services," added Batache. "FARO's proven products and customer support will help Air Force PM
(project manager) Michael W. Booen and OPR Major H. Bullock and the Boeing team under PM Paul
Shennum to gain the competitive advantage necessary to succeed in today's better, faster, and cheaper
competitive marketplace."
This aircraft is the first prototype designed to destroy missiles in the boosting phase. FARO is
committed to support the U.S. Air Force and the prime contractors -- Boeing, TRW, and
Lockheed-Martin -- in the manufacturing of the additional 30 aircraft planned for the post 2003
evaluation phase of the prototype.
FARO Technologies, Inc. and its international subsidiaries are pioneers and market leaders in the
Computer-Aided Manufacturing Measurement market, which is the final frontier of the Computer Aided
Design (CAD) revolution. The company's hardware and software products play a key role in the
worldwide trend toward CAD-based total quality management for shortened production cycles and in
total quality management for the reduction in scrap and rework. FARO's product line includes FaroArm
portable measurement equipment, a broad range of CAD-based inspection software for portable and
fixed-base coordinate measurement machines, and factory-level statistical process control (SPC)
software. FARO's products are used worldwide by a wide variety of manufacturing companies, both
large and small. News and information are available at the company's web site at faro.com .
To receive additional information on FARO Technologies, Inc. via fax at no charge, dial
1-800-PRO-INFO and enter code FARO. For international access, dial 732-544-2850.
Statements contained in this press release that are not historical facts are forward-looking statements
that are made pursuant to the safe harbor provisions of the Private Securities and Litigation Reform Act
of 1995. In addition, words such as "believes," "anticipates," "expects" and similar expressions are
intended to identify forward-looking statements. Such forward-looking statements involve known and
unknown risks, uncertainties or other factors that may cause actual results, performance or
achievements of the Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Factors that might cause such a
difference include, but are not limited to:
-- customer acceptance of the company's products,
-- the impact of competitive products and pricing,
-- the overall success of the ABL program, and
-- the other risks detailed in the company's 10-K report and other
filings from time to time with the Securities and Exchange Commission.
Forward-looking statements in this release represent the company's judgment as of the date of this
release. The company disclaims, however, any intent or obligation to update these forward-looking
statements.
Small contract, but significant to the bottom line for this small cap company. Shape of things to come. Jack |
