MVSI Subsidiary Wins Automated Welding Systems Contract for the Automotive Industry
9 October 1997
MVSI Subsidiary Wins Contract for Laser Vision Systems For Use in Automated Welding Systems for the Automotive Industry
VIENNA, Va., Oct. 9 -- MVSI, Inc. announced
today that its subsidiary, MVS Modular Vision Systems, Inc. ("MVS"), has won a
contract order from Automated Welding Systems, Inc. ("AWS"), a Canadian
company, to sell AWS a minimum of $1 million in MVS LaserVision seam tracking
systems over the next 18 months. In addition to the order, AWS has agreed to
use MVS as their exclusive source for laser vision seam tracking systems. In
turn, MVS has agreed to jointly develop with AWS a fully automated laser
welding system using MVS' laser vision technology for the production of tailor
welded blanks for the automotive industry worldwide. Tailor welded blanks is
an emerging technology used in the manufacturing of car door inner panels,
body door openings and other automotive components. AWS will fund most of the
cost of the joint development project.
MVS has already delivered three MVS LaserVision seam tracking systems to
AWS under this contract. MVS estimates that the AWS relationship may produce
an additional $1 million in orders for MVS' LaserVision seam tracking systems
over the period of this initial contract. MVS' estimate is based on the
number of MVS LaserVision seam tracking systems employed by a typical AWS
welding system and AWS' own projection for manufacturing four AWS systems per
year. AWS currently has firm orders for two AWS welding systems (which will
utilize five MVS LaserVision seam tracking systems) to be delivered this
quarter and next quarter.
Based in Markham, Canada, AWS is an internationally known industry leader
in the design, engineering and integration of turnkey, automated laser welding
and laser cutting systems to the automotive industry. AWS' decision to
partner with MVS was made following an extensive review by AWS of laser vision
systems worldwide. After testing, AWS determined that MVS' laser vision
system technology offered the greatest potential for delivering the exacting
precision and high quality results demanded by their customers.
MVSI manufactures and integrates machine vision systems for robotics,
semiconductor and other industries, integrates and markets brand name
proprietary and generic high-end computer system products and support
services, provides technology training and performs computer software
engineering and development for systems applications, including implementing
solutions for the Year 2000 conversion.
Except for historical information herein, certain matters discussed in
this release include forward-looking statements that may involve a number of
risks and uncertainties, which projections and statements are made pursuant to
the "Safe Harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Actual risks and results may vary significantly based on a number of
factors, including, but not limited to: risks in products and technology
development; market acceptance of new products; continuing product demand; the
impact of competitive pricing; and the company's relations with its customers.
For more information on AWS, please contact Ludvik Lecek, V.P. and
Director of Marketing for AWS at 905-305-6200. For additional information on
MVSI, Inc. or MVS' products, please contact MVSI at its principal executive
offices at 8133 Leesburg Pike, Suite 750, Vienna, Virginia 22182, telephone
703-356-5353 and facsimile 703-356-5354. MVSI, Inc.'s Web site is located at
http://www.mvsiinc.com.
SOURCE MVSI, Inc.