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PPT VISION, Inc. Announces OEM Supply Agreement with ISMECA
Datalogic USA, Inc. Posted 02/19/2003
MINNEAPOLIS, February 19, 2003/PR Newswire/ -- PPT VISION, Inc. (Nasdaq: PPTV) announced today that it has entered into an OEM supply agreement with Ismeca Europe S.A., a world-leading supplier of automation solutions targeted at the semiconductor back-end manufacturing process. This agreement calls for PPT VISION to provide Ismeca with its patented SpeedScan 3DTM and IMPACTTM 2D machine vision solutions for use in Ismeca’s new LTMTM series tray-to-tray and tray-to-tape scanning machines. The total value of this agreement is expected to exceed $2.5 million over the course of calendar years 2003 and 2004.
‘‘We are very pleased with the superior through-put, accuracy and repeatability performance offered by PPT’s combination 3D/2D solution,’‘ stated Mr. Beat Siegrist, Chief Executive Officer of Ismeca. ‘‘Furthermore, PPT has demonstrated an outstanding commitment to technical support,’‘ concluded Mr. Siegrist.
‘‘We believe that the combination of PPT’s advanced, high-performance SpeedScan 3D and IMPACT 2D inspection technologies with Ismeca’s great depth of experience, and distribution and customer support infrastructure in the semiconductor industry makes for a winning partnership,’‘ stated Mr. Joseph Christenson, President of PPT VISION, Inc. ‘‘We are very optimistic about the market potential for Ismeca’s LTM series semiconductor inspection systems and are deeply honored to be selected as their inspection technology partner in this endeavor.’‘
Founded in 1964, Ismeca is the world’s number one supplier of semiconductor tape and reel systems. Ismeca also offers test handling, marking function, lead scanning capabilities and fully integrated lines to the semiconductor industry. Ismeca is also a world leader in engineering complex automated assembly lines for high-volume manufacturing of industrial and consumer products such as medical and biomedical diagnostic devices. For more information, please see www.ismeca.com.
About PPT VISION
PPT VISION, Inc. designs, manufactures, markets, and integrates 2D and 3D machine vision-based automated inspection systems for manufacturing applications. Machine vision-based inspection systems enable manufacturers to realize significant economic paybacks by increasing the quality of manufactured parts and improving the productivity of manufacturing processes. The Company’s 2D machine vision product line is sold on a global basis to end-users, system integrators, and original equipment manufacturers (OEM’s) primarily in the electronic and semiconductor component, automotive, medical device, and packaged goods industries. The Company’s SpeedScan 3DTM sensor, incorporating the Company’s patented high-speed Scanning Moiré InterferometryTM technology is sold to original equipment manufacturers for specific applications. The Company’s PPT861TM 3D scanning system, which uses the Company’s SpeedScan 3D sensor, is an application-specific inspection solution targeted at inspection of leaded and bumped components in the semiconductor back-end manufacturing process, inspection of surface-mount electronic connectors, and inspection of components used in hard disk drives. The Company's Common Stock trades on the Nasdaq Small Cap Market tier of The Nasdaq Stock Market under the symbol PPTV. For more information, please see the PPT VISION, Inc. web site at www.pptvision.com.
Forward Looking Statements
The discussion above contains forward?looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s expectations, beliefs, intentions and strategies regarding the future. Forward-looking statements include, without limitation, statements regarding the extent and timing of future revenues and expenses and customer demand. All forward-looking statements included in this document are based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any such forward-looking statements.
The Company’s actual results are subject to risks and uncertainties and could differ materially from those discussed in the forward-looking statements. These statements are based upon the Company’s expectations regarding a number of factors, including the Company’s ability to obtain additional working capital if necessary to support its operations, changes in worldwide general economic conditions, cyclicality of capital spending by customers, the Company’s ability to keep pace with technological developments and evolving industry standards, worldwide competition, and the Company’s ability to protect its existing intellectual property from challenges from third parties. A detailed description of the factors that could cause future results to materially differ from the Company’s recent results or those projected in the forward-looking statements are contained in the section entitled ‘‘Description of Business’‘ under the caption ‘‘Important Factors Regarding Forward-Looking Statements’‘ contained in its filing with the Securities and Exchange Commission on Form 10-KSB for the year ended October 31, 2002 and other reports filed with the Securities and Exchange Commission.
For more information contact:
Timothy C. Clayton
Chief Financial Officer