Yes I do. I'm really liking ADTK I added to it today. See story below. I originally bought ADTK on the need to automate optical manufacturing. But I'm adding more to my reason. I was talking to Doug or you I can't remember who it was, that I thought low unemployment we have now, will cause more factory automation, after reading more about ADTK I have added that as reason to own it.
<< Adept Technology Announces Strategic Investment in New Business-to-Business Online Marketplace
Adept to Market Products Through Global Vertical Marketplace For Factory Automation
SAN JOSE, Calif.--(BUSINESS WIRE)--May 22, 2000-- Adept Technology, Inc. (Nasdaq: ADTK), America's largest manufacturer of industrial robots and a factory automation leader, today announced its participation as leading seed investor in Fastfactory Inc., an online vertical marketplace for machine builders, equipment suppliers and system integrators. The Fastfactory exchange will serve as a business-to-business site that should streamline the concepting, design, configuration, procurement and support of factory automation projects. The company also announced that Charlie Duncheon, senior vice president of marketing and sales for Adept Technology, Inc., will assume the position of president and chief executive officer for Fastfactory Inc. Mr. Duncheon will continue to serve as senior advisor to Adept's executive operating committee.
"The development of Fastfactory Inc. will not only be a strategic investment for Adept but is a further commitment to our Rapid Deployment Automation strategy, which should continue to reduce the time, cost and risk of implementing flexible automation," said Brian Carlisle, chairman and chief executive officer for Adept Technology. "Charlie Duncheon is uniquely qualified to spearhead this innovative marketplace for factory automation, and we know he will make Fastfactory a success."
"Fastfactory is the next step in the evolution of commerce for factory automation," said Charlie Duncheon, president and chief executive officer of Fastfactory Inc. "Fastfactory will be more than just a neutral e-commerce site, it will be an ongoing management tool for specifying, sourcing, supplying and supporting factory automation systems integrators and machine builders. Our goal with Fastfactory is to significantly reduce automation solution lead times in high growth industries such as telecommunications and fiber optic assembly."
"Fastfactory will bring direct benefits to our business and our integrator partners," said Joe Campbell, vice president for Adept Technology. "It will improve our communication and customer responsiveness and will streamline procurement and project management for our integrators. Fastfactory is a key part of our channel strategy."
Fastfactory Inc. is anticipated to be launched by year-end and will be a neutral account-based site for member companies. The venture will be backed by Adept Technology, other automation companies, and investors.
Adept Technology, Inc., founded in 1983, is America's largest manufacturer of industrial robots. Adept designs and manufactures intelligent automation hardware and software products for manufacturers in the, electronics, appliances, telecommunications, semiconductor, pharmaceutical, food processing, and automotive components industries. The company provides a broad, flexible line of software intensive, computer-driven automation products for assembly, material handling and packaging applications. Adept Technology product and service information is available at its worldwide web site adept.com.
This press release contains certain forward-looking statements that involve a number of risks and uncertainties including but not limited to, the potential delays associated with the development and introduction of new products or software releases; the potential fluctuations in the company's quarterly and annual results of operations; the cyclicality of capital spending of the company's customers; the company's dependence on the continued growth of the intelligent automation market; the risks associated with sole or single sources of supply and lengthy procurement lead times; the company's highly competitive industry; and rapid technological change within the company's industry.
For a discussion of risk factors relating to the company's business, see the company's Form 10Q for the quarters ended October 2, 1999 and January 1, 2000, as well as the company's annual report on Form 10K for the fiscal year ended June 30, 1999, including the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations filed as an exhibit thereto, filed on September 28, 1999.
The Adept logo is a registered trademark of Adept Technology, Inc. Adept is a trademark of Adept Technology, Inc. All other trademarks are owned by their respective companies.
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Contact:
Adept Technology, Inc.
Val Cureton, 408/434-5021 (Press and Industry Analysts)
408/545-5794 (fax)
val.cureton@adept.com
Michael W. Overby, 408/434-5112 (Financial Analysts)
408/434-5005 (fax)
mike.overby@adept.com>>
Geez, I stock that goes up on dot.com news, remember those days gone by? Seems like yesterday. <gg> Well I'll be...Will wonders never cease. <g>
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