This completion of all legal and financial aspects of the agreement, first announced in December 2003, signals that Valor-Denmark is now fully open for business: to deliver the TraceXpert Manufacturing Execution System (MES) to the global electronics industry. The TraceXpert product delivers a comprehensive productivity-maximization, exact traceability and shop-floor parts-management solution that has already been field-proven at dozens of major manufacturing sites worldwide. TraceXpert includes real-time data-rich interfaces to SMT assembly lines from multiple high-end machine vendors such as Siemens, Universal and Fuji, and a major expansion program is to be implemented immediately, to substantially increase the machine-types coverage offered to the market.
Valor-Denmark A/S is a joint venture company, 50% owned by Valor and 50% owned by the shareholders of the predecessor-company, TraceXpert A/S. All intellectual property, management and employees of TraceXpert A/S will be transferred into Valor-Denmark, and Valor Ltd., Israel, will make a $4 million investment into the newly formed business in order to facilitate an immediate ramp-up in the rate of development of the TraceXpert solution. After 3 years of operations, Valor Ltd., Israel, will have first option to purchase all shares in Valor-Denmark.
Ofer Shofman, CEO of Valor, said �I am delighted to be able to announce the completion of the agreement with our partners from TraceXpert. The Valor worldwide organization will take TraceXpert to market immediately, in combination with our Trilogy 5000 product, to deliver an industry-leading design-through-manufacturing solution. During the process of concluding the agreement to form Valor-Denmark, we benchmarked the TraceXpert solution at a number of top-tier manufacturers worldwide, and gathered the clear feedback that we have the winning technology which delivers not only the must comprehensive traceability solution, but also provides substantial improvements in productivity and inventory-management.�
Henning Maerkedahl, co-President of Valor-Denmark together with Kurt Byskov, confirmed �we are very excited about this strategic development in our business. We are looking forward to expanding our business globally, alongside Valor, the established leader in the field of manufacturing simulation and programming for electronics assembly operations.�
Valor Computerized Systems [FSE: VCR, WKN 928 731] is the leader in vertically integrated, productivity enhancing engineering software solutions to the electronics design and manufacturing industry. Valor is a publicly listed on the Frankfurt Stock Exchange. The company's powerful software tools, based on ODB++, the Valor-funded data format that has quickly become the format of choice for high-level data exchange, ensure the rapid transfer of optimized data from the design through manufacturing stages. Enterprise 3000 DFM system for physical design verification, Trilogy 5000 for assembly and test
engineering, TraceXpert for real time monitoring of assembly processes, exact traceability and materials management and the unique Valor Parts Library 24/7 on-line data service are utilized by designers and engineers to deliver enhanced productivity, higher yields, shorter cycle times and increased product quality. All Valor products are sold and supported by a worldwide network that includes global subsidiary offices, VARs and OEM channels. More information about the company can be found at http://www.valor.com/
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