Braintech CEO Details Refined Focus on Strategic Relationship with ABB, a Global Leader in Industrial Robotics
Company to Concentrate on Meeting Industry Demand for ABB's New TrueView(TM) Robotics Systems, Powered by Braintech's 3-D Vision Guided Robotics Technologies
NORTH VANCOUVER, B.C., Oct. 28 -- In a letter to Company shareholders, Owen Jones, Chief Executive Officer of Braintech, Inc. (BULLETIN BOARD: BRHI) , stated:
"As we reflect on the milestones Braintech has successfully achieved in 2004, thus far, one thing is clear -- 2005 is setting up to be a watershed year for our Company.
"Undaunted by contrarians who stood by their belief that full function, 3D vision guided robotics(VGR) was simply too farfetched, for nearly four years Braintech's corps of technologists, engineers and business professionals remained resolute in their mission to research, develop and commercialize a workable solution. Consequently, Braintech built from the ground up and successfully brought to market eVisionFactory(TM) (eVF)(TM), a comprehensive, robust software platform for intelligent robotics solution development and support. Perhaps more importantly, Braintech's VGR solutions, all based on eVF(TM), are now effecting what appears to be a global paradigm shift in industrial automation.
"Industrial manufacturers are turning in greater numbers toward Braintech VGR solutions, thanks largely to the sales and marketing muscle of our valued strategic partner, ABB.
"Earlier this year, Braintech and ABB unveiled TrueView(TM), a proven 3D- VGR system ideally suited to automotive and auto part precision manufacturing and assembly. TrueView(TM) combines the industry-leading robotics expertise of ABB with Braintech's revolutionary VGR technology. Together, we are transforming automotive manufacturing by giving ABB robots the eyes to handle and assemble parts in various environments with speed, a high degree of consistent quality and immediately measurable increases in productivity.
"This past September, ABB and Braintech showcased TrueView(TM) in Chicago at the International Manufacturing Trade Show, resulting in a large number of leads from a broad range of industrial manufacturers and enhancing a sales funnel that has increased significantly since we first teamed with ABB in February of this year.
"To fully capitalize on what we see is a large scale adoption of VGR by manufacturers across numerous industry sectors, and recognizing that only a partner of the size and scope of ABB is equipped with the sales, marketing and support resources necessary to address this opportunity, Braintech has made the decision to align its business interests with ABB and fully concentrate our resources on providing VGR technologies as part of ABB's TrueView(TM) Robotics System.
"Standardized training has and will provide the means for ABB to meet the anticipated upward surge in demand for VGR robotics systems. In this regard, we are working closely with ABB to complete the development of 'Best Practices' procedures and methodologies that will ensure standardization and reliability for all TrueView(TM) systems.
"Braintech is also in the process of updating its corporate website, found at http://www.braintech.com/, to emphasize and support its commitment to ABB and TrueView(TM). As part of our refined focus on our strategic ABB relationship, Braintech is also pleased to announce that we are in final field tests of some new and advanced software enhancements for TrueView(TM) with ABB and several of its end users. This new software offering is expected to play a major role in providing enhanced support (fault diagnostics, remote communication, trend monitoring and control) to existing and future TrueView(TM) installations. We look forward to the formal unveiling of this exciting new product in the very near future.
"In addition, over the course of the next several days, weeks and months, you can expect to learn details relating to the successful installation of our VGR technologies in several automotive manufacturing and assembly plants across North America, as well as a number of purchase orders for new TrueView(TM) system installations that are expected. We are very excited about the momentum we are experiencing in the acceptance of our systems in the market place. Initial installations are demonstrating the value of deploying VGR automation and end-users are expressing a strong and abiding appreciation for our technology.
"As I noted when I began this letter, 2005 is shaping up to be a watershed year for Braintech -- a year defined by sales growth, expanding market presence and industry revolution. I'd like to take this opportunity to acknowledge each member of the Braintech team. Without their unwavering commitment, dedication, sacrifice and support of our Company's vision, we would not be here today to celebrate our many achievements. Furthermore, I'd also like to thank all of our loyal shareholders. We intend to work very hard to continue building a company that is worthy of your ongoing trust and confidence."
About ABB (http://www.abb.com/)
ABB's Robotic, Automotive and Manufacturing Group is a leading supplier of robots, robotic systems and automation systems to the automotive, manufacturing and consumer industries. With more than 120,000 robots installed worldwide and more than 5,000 employees, ABB is a global leader in flexible factory automation.
ABB is a global leader in power and automation technologies that enable utility and industry consumers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 103,000 people. The company's U.S. operations, headquartered in Norwalk, Connecticut, employ more than 8,500 in manufacturing and other facilities in 32 states. With an installed base of more than 120,000 robots, the Automation Technologies division employs about 56,000 and posted 2003 revenues of US $9.9 billion.
About Braintech, Inc. (http://www.braintech.com/)
Braintech's VGR technologies are revolutionizing manufacturing by giving industrial robots the "eyes" to handle and assemble parts with a high degree of consistent quality and productivity. Braintech's scientific capabilities, engineering expertise and commitment to support are embedded in the Company's VGR software product called "eVFTM" and is used to develop, operate and support VGR solutions. To date, Braintech's VGR solutions have been installed at Ford Motor Company, General Motors, Delphi, TI Automotive Group, Pullman Industries and Toyota.
IDM, SC3D, eVF and eVisionFactory are trademarks of Braintech Canada, Inc. TrueView and ABB are trademarks of ABB, Inc.
Statements in this document that are not purely historical are forward- looking statements and reflect the current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technical difficulties in developing the products; competition from other suppliers of similar products; pricing that may not be acceptable to potential markets; and many other known and unknown factors. Readers should also refer to the risk disclosures outlined in the Company's 10-KSB and 10-QSB Forms filed from time to time with the SEC.
For more information, please contact:
Braintech, Inc.
Jim Dara, VP Sales, GM North American Operations
248-219-9400 / jimdara@braintech.com
or
Elite Financial Communications Group
Stephanie Noiseux, EVP of Client Relations
407-585-1080 / brhi@efcg.net