For the record, I copied & pasted today's press release from Yahoo Finance News:
biz.yahoo.com
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Thursday October 9 8:28 AM EDT
Company Press Release
MVSI Subsidiary Wins Contract for Laser Vision Systems For Use in
Automated Welding Systems for the Automotive Industry
VIENNA, Va., Oct. 9 /PRNewswire/ -- MVSI, Inc. (Nasdaq:MVSI) announced today that its subsidiary, MVS Modular
Vision Systems, Inc. (''MVS''), has won a contract order from Automated Welding Systems, Inc. (''AWS''), a Canadian
company, to sell AWS a minimum of $1 million in MVS LaserVision seam tracking systems over the next 18 months. In
addition to the order, AWS has agreed to use MVS as their exclusive source for laser vision seam tracking systems. In turn,
MVS has agreed to jointly develop with AWS a fully automated laser welding system using MVS' laser vision technology for
the production of tailor welded blanks for the automotive industry worldwide. Tailor welded blanks is an emerging technology
used in the manufacturing of car door inner panels, body door openings and other automotive components. AWS will fund
most of the cost of the joint development project.
MVS has already delivered three MVS LaserVision seam tracking systems to AWS under this contract. MVS estimates that
the AWS relationship may produce an additional $1 million in orders for MVS' LaserVision seam tracking systems over the
period of this initial contract. MVS' estimate is based on the number of MVS LaserVision seam tracking systems employed by
a typical AWS welding system and AWS' own projection for manufacturing four AWS systems per year. AWS currently has
firm orders for two AWS welding systems (which will utilize five MVS LaserVision seam tracking systems) to be delivered this
quarter and next quarter.
Based in Markham, Canada, AWS is an internationally known industry leader in the design, engineering and integration of
turnkey, automated laser welding and laser cutting systems to the automotive industry. AWS' decision to partner with MVS
was made following an extensive review by AWS of laser vision systems worldwide. After testing, AWS determined that
MVS' laser vision system technology offered the greatest potential for delivering the exacting precision and high quality results
demanded by their customers.
MVSI manufactures and integrates machine vision systems for robotics, semiconductor and other industries, integrates and
markets brand name proprietary and generic high-end computer system products and support services, provides technology
training and performs computer software engineering and development for systems applications, including implementing
solutions for the Year 2000 conversion.
Except for historical information herein, certain matters discussed in this release include forward-looking statements that may
involve a number of risks and uncertainties, which projections and statements are made pursuant to the ''Safe Harbor''
provisions of the Private Securities Litigation Reform Act of 1995. Actual risks and results may vary significantly based on a
number of factors, including, but not limited to: risks in products and technology development; market acceptance of new
products; continuing product demand; the impact of competitive pricing; and the company's relations with its customers.
For more information on AWS, please contact Ludvik Lecek, V.P. and Director of Marketing for AWS at 905-305-6200.
For additional information on MVSI, Inc. or MVS' products, please contact MVSI at its principal executive offices at 8133
Leesburg Pike, Suite 750, Vienna, Virginia 22182, telephone 703-356-5353 and facsimile 703-356-5354. MVSI, Inc.'s Web
site is located at www.mvsiinc.com.
SOURCE MVSI, Inc. |
