Explosives Detection Leader InVision Technologies Testifies Before Congressional Subcommittee on Aviation
WASHINGTON--(BUSINESS WIRE)--Oct. 11, 2001--
Executive outlines InVision's role in the fight against terrorism,
calls for stable commitment to reducing threat of explosives in
checked baggage and for accelerated deployment of FAA-certified
explosives detection systems
Frederick F. Muntz, vice president of Americas for InVision Technologies Inc. (Nasdaq:INVN - news), testified today before the U.S. House of Representatives Subcommittee on Aviation. He called for a sustained commitment to fund the deployment of explosives detection systems (EDS) in U.S. airports and outlined the company's ability to meet the challenge for increased production of its CTX systems. He also called for an acceleration of the FAA's plan to implement 100 percent scanning of checked baggage by 2009.
InVision is the technology leader for aviation security, providing FAA-certified detection equipment for explosives determined to be a threat to civil aviation by the Federal Aviation Administration and the National Academy of Science. Its CTX product line, based on computed tomography (CT) technology similar to that used in medical imaging, is used on a portion of checked baggage loaded onto airplanes in the United States.
In a prepared statement, Muntz reiterated InVision's proven role as a national resource and its commitment to the fight against terrorism on behalf of the flying public. ``It is with heavy heart that I am here today representing some 350 InVision employees in the wake of the terror attacks of September 11. All of us at InVision are committed to providing the aviation community the finest products and services available to protect the traveling public against terrorism.''
Muntz outlined the evolution of InVision and its EDS products, spurred by the downing of Pan Am Flight 103 by explosives packed in checked baggage. The ensuing Aviation Security Act of 1990 required the FAA to identify, develop and certify a technology capable of detecting all classes of explosives that pose a threat to civil aviation. The FAA and the National Academy of Science reviewed technologies and the requirements for an EDS and determined that CT was a proven technology capable of meeting or exceeding the strict and challenging certification standards. InVision's CTX system was the first FAA-certified EDS in 1994 and is only one of two FAA-certified systems today.
InVision's equipment is now in 61 airports worldwide and represents more than 95 percent of all FAA-certified EDS deployed worldwide. The 1996 TWA 800 crash reinvigorated interest in EDS, but the subsequent determination of mechanical failure softened the national resolve to minimize aviation threats.
Despite what Muntz called ``an erosion in EDS funding and a compromised commitment to secure checked baggage'' after the TWA determination, InVision continued to invest heavily in research and development to improve its products and services. Muntz cited several of InVision's benchmarks of success, which include:
Provided for the installation of more than 135 CTX systems domestically and over 250 worldwide;
Reduced the cost of annual maintenance contracts by more than 40 percent;
Reduced the number of alarms that required operator examination by almost one half;
Introduced product upgrades funded solely by InVision;
Produced the worlds fastest EDS in the CTX 9000DSi that has been certified by the FAA to scan up to 542 bags per hour and features the largest aperture available to facilitate integration into baggage handling systems; and
Self-funded and introduced a cost reduced, smaller product in the CTX 2500 most applicable to smaller airports and stations with reduced throughput requirements.
``InVision as a national resource has earned its place in our country's arsenal to protect the traveling public,'' Muntz said. ``InVision continues to make at-risk purchases of long lead items and manufactures finished products in good faith and in anticipation that our government and the aviation community will support a comprehensive response to terrorism. InVision stands ready to serve. It is now time for our country to stabilize this critical national resource, address the checked baggage vulnerability once and for all and provide for an accelerated, sustained rate of CTX installations in our nation's airports,'' Muntz said.
A complete transcript of Muntz's testimony will be available at www.invision-tech.com.
About InVision Technologies
InVision Technologies develops, manufactures, markets and supports explosive detection systems based on advanced Computed Tomography (CT) technology to provide the traveling public with the best security against terrorism available. The company, which offers a family of explosive detection systems (EDS) with capabilities for smaller airports to large hubs, has more than 90 percent of the worldwide certified EDS market, and has more than 250 FAA-certified CTX systems shipped worldwide.
InVision's wholly-owned subsidiary, Quantum Magnetics, develops and commercializes patented and proprietary technologies, including Quadrupole Resonance (QR) patents licensed from the Naval Research Laboratory that are based on state-of-the-art, low-cost versions of magnetic resonance adapted for explosives detection. This includes Quantum's QScan(TM) line of aviation scanners and other explosive detection devices under development, including a hand-held wand and a prototype walk-through portal to screen airline passengers for explosives. Quantum's QR technology is considered to be the most promising landmine detection technology. Quantum is developing devices under multi-year contracts with the U.S. military. Quantum is also developing passive magnetic concealed weapons detection portal systems for aviation passenger screening.
This news release contains forward-looking statements including statements regarding projected revenues and plans relating to the company's products and services. Investors are cautioned to consider the important risk factors that could cause actual results to differ materially from those in the forward-looking statements in this news release. These risk factors include risks inherent to doing business with public agencies, such as limited funding; risks inherent in manufacturing and delivering products on time; risks inherent to the development of new products and new applications; and other risks detailed from time to time in the company's SEC reports, including the most recent reports on Forms 10-Q and 10-K. |
