Robin Hood,
IPS receives $1-million in upgrade orders
Image Processing Systems Inc IPV
Shares issued 19,902,503 May 25 close $0.70
Thu 27 May 99 News Release
Mr. Chris Cory reports
Image Processing Systems, under its trade name IPS Automation, has received
orders totalling in excess of $1-million to provide hardware and software
upgrades to existing production lines for LG Electronics, Wales and
Chunghwa Picture Tubes, Taiwan. These upgrades to previously installed ADI
8200 ITC systems will convert production lines now producing 15 and 17-inch
computer monitor tubes to produce larger size 19-inch tubes. Both Chunghwa
Picture Tubes and LG Electronics are among the world's largest computer
monitor tube manufacturers and have multiple existing production lines
using IPS display manufacturing equipment in Taiwan, China, Korea, Malaysia
and Wales, UK.
"The demand for larger size tubes has generated orders for new lines as
well as upgrades," comments Blake Witkin, IPS general manager, display
technology division, "Manufacturers are quickly moving to the larger,
higher profit margin tubes. Our plan is to dominate the 19-inch market as
we have the 15 and 17-inch markets."
"With better-than-expected 18 per cent growth in worldwide shipments of
personal computers in the first quarter, manufacturers are quickly
responding by increasing production capacity of computer monitors," says
Ken Wawrew, IPS president and chief executive officer. "This increased
demand has contributed to the growing IPS vision systems order backlog
which now stands at $12.5-million."
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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