Hathaway Diversifies Motion Control Business With $1,500,000 of New Orders

    DENVER--Dec. 6, 2001--Hathaway Corporation announced that its Motion Control segment has recently received important orders for its brushless direct current motor and controller technologies.
    Hathaway's subsidiary, Emoteq Corporation, received a $500,000 order for motors and drives as part of the first major increment of a multiyear development program for new technology from a major automobile company. The second order was for $1,000,000 of motors and drives to be incorporated into a gun control system for armored personnel carriers on a U.S. military program. Shipments for these orders are scheduled to be completed by March 31, 2002. Seven more tranches of the military business are expected over the next three years upon successful deployment of the first system.
    "These orders represent major advances in our plans towards diversifying our motion control business away from its high dependency upon the highly cyclic semiconductor industry," commented Dick Smith, president and CEO. "Hathaway earned the business because of its ability to provide custom motors as well as custom drive electronics. The orders are significant because they represent new markets for the company and represent opportunities to combine our motors and drive electronics to obtain orders for a greater percentage of an application's content."
    Headquartered in Denver, Colorado, Hathaway designs, manufactures and sells advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. With subsidiaries in the United States and United Kingdom and joint venture investments in China, Hathaway is a leading supplier of systems automation and integration solutions to the world power industry and a leader in motion control products.

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