QualMark, Partnered with Weiss Technik, Sells Chamber To Continental ISAD
DENVER--May 23, 2002--QualMark Corporation (OTCBB:QMRK) a world leader in designing, manufacturing and marketing HALT (Highly Accelerated Life Testing) and HASS (Highly Accelerated Stress Screening) systems, today announced that through its exclusive partnership with Weiss Technik, the first six figure sale of an OmniAxial Vibration System (OVS) 2.5 chamber was sold to Continental ISAD who is among the top ten automotive suppliers in the world. Continental ISAD employs over 64,000 employees located in 36 countries and is a manufacturer of components, modules and automotive systems."As our relationship with our partner Weiss Technik matures we can expect to penetrate more and more of the market in Germany and Austria," said Charles D. Johnston, President and CEO of QualMark. Johnston added: "Companies in the automotive related industries are currently focusing on product quality and cost savings. Automotive Manufacturers who utilize HALT can look forward to significant savings and increase in sales due to resolving issues concerning product reliability, returns, and customer satisfaction. This also reinforces the growing evidence that automakers are using QualMark HALT technology as a best practices vehicle that translates to recognized quality and trouble free operation."
Johnston continued: "On another note, QualMark's goal is to continue to leverage its business opportunities. As I stated in our conference call the U.S. capital expenditure market has not improved, however we will continue to leverage our offshore opportunities. We are working diligently to build value for our shareholders and I believe are applying the proper resources to accomplish that goal. Although we have experienced recent disappointment with our delisting from Nasdaq SmallCap, we will set the goal to focus on internal growth of the Company and growth through strategic acquisitions."
About Continental ISAD
Continental ISAD is a globally operating automotive supplier that develops and manufactures in the chassis system, tire and industrial product sectors. Continental establishes international standards and help automakers fulfill promises they've made with respect to their products. The Corporation employs over 64,000 employees and posted sales of EUR 11.2 Billion in 2001.
About QualMark Corporation
QualMark Corporation, headquartered in Denver, Colorado, is a leader in designing, marketing, and manufacturing accelerated life-testing systems providing America's largest corporations with products that improve product reliability and allow them to get to market faster. The Company has installed more than 450 of its proprietary testing systems in 18 countries and operates four of its own testing and consulting facilities in Denver, CO., Santa Clara, Calif., Hopkinton, Mass., and Huntington Beach, Calif. In Detroit Michigan, the Company has a strategic alliance with a large testing facility. QualMark has also formed international ARTC alliances in Ireland, the Netherlands, Italy, France and Sweden. The Company also offers engineering services and products that complement the core technologies of QualMark and other test equipment providers.
The statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Company's Securities and Exchange Commission filings; downturns in the Company's primary markets; variability of order flow, future economic conditions; competitive products and pricing; new product development; disruptions in the Company's operations from acts of God or extended maintenance; transportation difficulties; or the delivery of product under existing contracts and other factors.