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Gold/Mining/Energy : Image Processing Systems (IPV-TSE)

IPV 4.310

-4.0%

Jan 24 4:00 PM EST

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To: robin hood who wrote (553)	5/31/1999 9:46:00 AM
From: Dennis Lefebvre	Read Replies (1) of 658

robin hood, Image Processing sells Chicago-based TMC Image Processing Systems Inc IPV Shares issued 19,902,503 1999-05-28 close $0.71 Monday May 31 1999 Mr. Ken Wawrew reports Image Processing Systems, under its trade name IPS Automation, has sold Chicago-based Tisma Machinery Corporation (TMC). IPS acquired TMC in July, 1997. "The synergies between the companies anticipated at the time of purchase did not materialize," commented John Bowie, IPS chairman, "And, the current management attention and resources required at TMC became more than we were prepared to accommodate." "Our management's attention and energies are better focused on our vision business - filling the pent-up demand in our display inspection business, commercializing our new automobile glass inspection products and continuing development of exciting new products," said Ken Wawrew, IPS president and chief executive officer. "This demand has generated the largest number of shipments for our first quarter in the history of the company and our order backlog now sits at $12.5-million." (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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