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Gold/Mining/Energy : IVS could be the next "microsoft" in the automotive ind.
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To: Doug Heuring who wrote ()1/29/1998 7:00:00 PM
From: Doug Heuring  Read Replies (1) of 183
 
IVM LATEST NEWS, THERE GOING AFTER MULTI BILLION DOLLAR BUSINESS

During 1998, the company's engineering resources will be dedicated, based
on current confidential collaborative agreements with systems users and
system integrators, to the design and introduction of customized
state-of-the-art wireless and stationary diagnostic systems for the
automotive and heavy truck industry. These products are designed to be
compatible with any available wireless communication system. The systems
are designed to provide a total system solution for car and truck
manufacturers, fleet owners and consumers by linking diagnostic and service
networks from the vehicle to diagnostic hotline centres that can carry out
predictive failure analysis of vehicle operating systems. The end objective
will be the accurate and cost effective repair and life cycle maintenance
management of consumer and fleet owned vehicles. This technology is new to
the automotive industry but has been mandated for aggressive development
and implementation by most manufacturers due to the rising costs of
warranty repairs. The system is designed to provide significant cost
savings in the vehicle maintenance and repair segment of the automotive
industry which has worldwide costs estimated at over $500 billion annually.
The company currently has competitive advantages in its products that are
recognized by the industry leaders and should enhance the company's success
in the marketplace. Revenues will be derived from the sale of diagnostic
systems and distribution will begin to roll out over the next 36 months.
This is a new technology and it is difficult to time the initial launch of
these products, however, management believes that the company's products
will begin to flow against purchase orders currently held no later than the
second quarter of 1998. Approximately $4,000,000 will be recorded as sales
in the financial statements at this time and revenues are expected to grow
rapidly after the initial launch of the company's products.
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