Medar Announces $1.2 Mil Order for GM China Project
4 August 1998
Medar Announces $1.2 Mil Order for GM China Project
FARMINGTON HILLS, Mich., Aug. 3 -- Medar, Inc.
announced today that it has received a letter of intent for a $1,200,000
welding control order for Phase II of the Shanghai General Motors Project.
The controls are scheduled to be delivered beginning in the 4th quarter of
1998. Medar, Inc. also supplied controls for Phase I of this Project.
"This order further establishes us as a world wide supplier of welding
controls," said Charles J. Drake, Chairman and CEO. "We now have significant
installations of controls in Asia, South America, Mexico and Canada in
addition to our dominant United States presence."
Medar, Inc., an ISO 9001 registered firm, offers two unique areas of
expertise to the industrial manufacturer: Machine vision-based inspection
systems and resistance welding controls. Integral Vision, a Medar division,
is a leading supplier of machine vision systems used to monitor or control the
manufacturing process. Vision systems are used to supplement human inspection
or provide quality assurance when production rates exceed human capability.
Medar's resistance welding controls assure weld quality and provide
information concerning the welding process. More information can be found at
our Website: http://www.medar.com.
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements made pursuant
to the safe harbor provisions of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. Such statements are based on
management's current expectations and are subject to a number of factors and
uncertainties which could cause actual results to differ materially from those
described in the forward-looking statements. Such factors and uncertainties
include, but are not limited to: the impact of the level of the Company's
indebtedness; restrictive covenants contained in the Company's various debt
agreements; general economic conditions and conditions in the specific
industries in which the company has significant customers; price fluctuations
in the materials purchased by the Company for assembly into final products;
competitive conditions in the Company's markets and the effect of competitive
products and pricing; and technological development by the Company, its
customers and its competition. As a result, the Company's results may
fluctuate. Additional information concerning risk factors that could cause
actual results to differ materially from those projected in the forward-
looking statements are contained in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements represent the
Company's best estimates as of the date of this press release. The Company
assumes no obligation to update such estimates except as required by the rules
and regulations of the Securities and Exchange Commission.