TriTec Power Systems Ltd. -- Announcement

10 May 2000

TriTec Power Systems Ltd. -- Announcement

    MARKHAM, Ontario--May 10, 2000--TriTec Power Systems Ltd. (CDN:TPSL.) announced today that it has leased a new headquarters and manufacturing facility in Brampton, Ontario.
    Consisting of approximately 45,000 square feet, the facility will accommodate manufacturing of TriTec motor driven products, gantries, linear precision positioning products, and the industrial automation products produced by TriTec and its new subsidiary APB Automation Systems. The move from TriTec's headquarters in Markham, Ontario, and its manufacturing facility (approximately 18,000 square feet) in Brampton is anticipated to be completed by July 15, 2000.
    Commenting on the move, Dan Andersen, Chairman and CEO of TriTec, stated: "In the past 60 days, we have transitioned TriTec from a research and development company to a producer of industrial automation equipment by realizing first commercial revenues through the shipment of our first fully integrated waterjet cutting system; producing our first commercial TriTec motor; starting volume production of linear precision positioning products; and acquiring the manufacturing and integration platforms required for market penetration. By establishing a world class manufacturing facility in our new location, we will not only benefit our own production processes, but we will also acquire a demonstration capability that will allow industry to see the benefits of the automation equipment that we are selling."