FARO Technologies Announces New Auto Group
13 September 1999
Leading the Way in Computer-Aided Manufacturing Measurement; FARO Technologies Announces New Auto Group, Tech Center And Emerging Market Segment
LAKE MARY, Fla., Sept. 10 -- FARO Technologies, Inc.
announces the development of a new division -- Manufacturing
Quality Consulting Group (MQC) -- and the opening of a Detroit-based
technology center catering to the automotive industry. FARO will discuss the
new division and technical center for the first time at the SME Advanced
Productivity Exposition in Detroit, September 14-16.
The new MQC Group and technology center in Wixom, Mich., expands the
company's commitment to serve the emerging market segment, Computer-Aided
Manufacturing Measurement (CAMM).
"The development of the MQC Group and technology center gives FARO a
greater presence in the Detroit area, and allows us to place a greater focus
on providing solutions to the competitive forces that are driving CAMM within
the automotive industry," said Simon Raab, president and CEO, FARO
Technologies. "The auto industry is shortening product cycles and sharpening
competition. Consumers are demanding the utmost in product quality. As a
result, traditional metrology software and hardware are inadequate and driving
up production costs. We intend to turn that around."
MQC Group's technology center will function as FARO's automotive CAMM
center of excellence providing contract and specialized services, inspection
services, functional evaluation, problem solving and customized training.
"FARO is the only company prepared to address CAMM in depth," Raab said.
"Our FaroArm(R) and CAM2(TM) line of products brings CAD data to the
manufacturing floor, bridging the gap between engineering and production. The
MQC Group will provide exclusive CAMM solutions for direct CAD integration
into automotive manufacturing processes."
Automotive manufacturing took on a new face during the 1980s with the
introduction of computer-aided design and manufacturing (CAD and CAM). It
revolutionized the industry by increasing productivity, improving quality and
reducing costs. Despite these technological advances in design and
manufacturing, however, something was missing from the production cycle: a
highly accurate, efficient and convenient measurement technique for ensuring
that the products and components -- both on and off the production line -- met
the original CAD specifications.
In essence, traditional measurement techniques have lagged behind in the
technological advance of the production process. There was a driving need for
a missing link -- now known as Computer-Aided Manufacturing Measurement
(CAMM).
FARO estimates that worldwide markets for CAD/CAM and single-part, high-
precision metrology are about $3 billion and $1 billion per year,
respectively. "We further believe that high-precision measurement is only a
part of the total quality assurance technology market available to us through
the CAMM revolution," said Raab.
For example, a single automobile weighing 4,000 pounds might under-go
high-precision testing in the quality lab on parts representing only about
one-tenth of its total weight. The remaining 3,600 pounds, currently
unmeasured, can be accessible on the factory floor for intermediate-precision
testing with FARO's CAM2 technologies.
"It follows that the early, established providers of technologies for the
CAMM revolution will capture the lion's share of what is expected to be at
least a $1 billion market," says Raab.
FARO Technologies, Inc. and its international subsidiaries design,
develop, market and support a range of products which play a key role in the
critical field of software-driven three-dimensional measurement and quality
assurance technology for manufacturing applications. FARO's products include
FaroArm(R), its proprietary portable measurement equipment, and CAM2(TM), a
broad line of CAD-based inspection software for portable and fixed-base
coordinate measurement machines, and factory-level dimensional statistical
process control (SPC) software.
Based in Lake Mary, Fla., FARO Technologies, Inc. is a global pioneer in
the Computer-Aided Manufacturing Measurement (CAMM) market, which represents
the final stage of the revolution in Computer-Aided Design (CAD) and Computer-
Aided Manufacturing (CAM) for total quality management on the shop floor.
Automotive customers include AO Smith, DaimlerChrysler, General Motors,
Samsung Motors, Hyundai, Toyota, Vehma International, Johnson Controls, Lear
Corp., Porsche, Ford and Honda.
To receive additional information on FARO Technologies, Inc. via fax at
no charge, dial 1-800-PRO-INFO and enter code FARO. For international access,
dial 732-544-2850.
* Statements contained in this press release that are not historical
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that might cause such a difference include, but are not limited to:
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intent or obligation to update these forward-looking statements.