Hathaway Receives Contract for Undersea Robot Propulsion Motors
DENVER--(BUSINESS WIRE)--April 26, 2000--Hathaway Corporation (Nasdaq:HATH - news) today announced that Hathaway's Emoteq subsidiary in Tulsa, Oklahoma, a division of Hathaway's Motion Control segment, has received a contract valued at over $500,000 to supply high-torque brushless DC motors to a California manufacturer of undersea robots.
The motors will be delivered over the next eight months. The robots will be used primarily by the telecommunications industry for the undersea laying and maintenance of fiber optic cables and by the oil industry for undersea exploration equipment deployment and support. The robots will also be used for special applications such as undersea search and recovery.
Each undersea robot uses ten 16-inch-diameter torque motors for propulsion, steering thrusters, and auxiliary functions. The Company was able to obtain the contract because of its fast response to difficult requirements relating to torque density and physical configuration of the motors as well as being able to support the special processing requirements of motors destined to operate at pressures of up to 10,000psi.
``This contract reflects our Motion Control segment's successful expansion into new markets,'' commented Dick Smith, President and CEO. ``Contracts such as this one help our endeavors to diversify Motion Control's served market base as well as contribute to its continued growth in revenues. The Motion Control segment has achieved a 43% increase in revenues for the nine months ended March 31, 2000, compared to the same period last year.''
Headquartered in Denver, Colorado, Hathaway designs, manufactures and sells advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. With subsidiaries in the United States and United Kingdom and joint venture investments in China, Hathaway is a leading supplier of systems automation and integration solutions to the world power industry and a leader in process calibration technology and motion control products.
Contact:
Hathaway Corporation, Littleton, Colo.
Richard Smith, 303/799-8200
Fax: 303/799-8880
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