To: TokyoMex who wrote (3019 ) 9/3/1998 2:28:00 PM From: TokyoMex Read Replies (1) | Respond to of 119973
TAVA .. (PR NEWSWIRE) DJ: TAVA Technologies Will Jointly Develop Products for the DJ: TAVA Technologies Will Jointly Develop Products for the Paper Industry With Coors-Wilbanks of ACX Technologies ENGLEWOOD, Colo., Sept. 3 /PRNewswire/ -- TAVA Technologies, Inc. (Nasdaq: TAVA) today announced that it has signed a Letter of Intent with Coors-Wilbanks (Hillsboro, OR) to jointly develop integrated control system solutions for paper industry applications. Several new products targeted to improve productivity performance on paper machines are anticipated as a result of this agreement, with an initial prototype to be released for sale by the end of 1998. Coors-Wilbanks, part of ACX Technologies, Inc., (NYSE: ACX ) is a leader in providing engineered de-watering equipment and systems for high-speed paper machines. The first of these "results-oriented" control system products is expected to provide advanced process visibility and tangible improvements in paper quality with resulting financial benefits for paper industry customers. The companies believe that the cooperative development effort will leverage their existing technical strengths. It will be complemented with joint sales and marketing programs to accelerate industry introduction. John Jenkins, CEO of TAVA, said "We are pleased to have reached this accord with an industry leader like Coors-Wilbanks. While the opportunity to create new control system products for the paper industry is exciting in its own right, this move underscores TAVA's strategic long-term objective to create manufacturing execution solutions that provide our customers with measurable gains in both product quality and profitability. This commercial alliance exploits the core competencies of both companies and will serve as a model for similar TAVA initiatives in the future." TAVA (http://www.tavatech.com) provides factory automation and control systems integration helping clients in manufacturing and process industries integrate their processes, applications, hardware and software into seamless manufacturing enterprises. Located in 14 regional offices throughout the U.S., TAVA has a staff of more than 500. Statements made in this Press Release that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of federal securities laws. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected. Such factors include adverse economic conditions, entry of new and stronger competitors, inadequate capital, unexpected costs, and failure to capitalize upon access to new clientele. Additional risks and uncertainties which may affect forward-looking statements about the Company's Y2K One business and prospects include the possibility that a competitor will develop a more comprehensive or less expensive Y2K solution, and delays in market awareness of TAVA and its product and service solutions. These factors and others are discussed in the "Management's Discussion and Analysis" section of the Company's Annual Report on Form 10-KSB for the fiscal year ended June 30, 1997 and in subsequent reports filed with the Securities and Exchange Commission, to which reference should be made. /CONTACT: John Jenkins, CEO, or Doug Kelsall, CFO, 303-771-9794, both of TAVA Technologies, Inc.; or Scott Liolios of Pacific Consulting Group, Inc., 714-574-3860/ 13:58 EDT *** end of story ***