Aug 01, 2001
Montreal, Quebec, June 20, 2001 � Coreco Imaging, a leader in machine vision products, announced today that it has been awarded its largest contract to date by one of Europe�s leading OEM suppliers of cutting edge machine vision inspection systems. This significant three-year contract, valued at US$3 million, is for Coreco Imaging�s PC-Series machine vision frame grabbers and software. The first deliveries are scheduled to begin in June 2001.
With its headquarters in Quebec, Coreco Imaging is the North American leader in the design and development of high performance imaging hardware and software. The company�s high-performance frame grabbers, embedded products and application-specific software are used by a growing number of OEMs who produce high-end computer vision tools to inspect electronics, semiconductor, consumer pharmaceutical, and automotive manufacturing processes.
Machine vision inspection tools are used both during and after the manufacturing process to capture enhanced video images of a product and to detect characteristics invisible to the human eye. These tools meet the demand for zero defect production in a variety of products, from microscopic connections in integrated circuits to surface defects in demanding electronic and semiconductor applications. Machine vision improves quality control and productivity in manufacturing, and increases overall competitiveness.
�This new European contract reflects the confidence being expressed in Coreco Imaging�s machine vision expertise and reinforces our status as a world-class OEM supplier,� commented President and CEO Keith Reuben. �It is consistent with our strategy to expand our global presence, and recognizes our ability to provide high quality, competitive solutions to leading OEM suppliers worldwide. Product performance, machine vision expertise, excellent customer service, and the ability to deliver volume quantities are the keys to success in this market.�
In June, Coreco Imaging was named one of the top 100 technology companies by Canadian Business Magazine. Earlier this year, the company won first place in Scientific Computing & Instrumentation Magazine's 2001 Readers' Choice Awards as the best board level vendor for Image Analysis/Image Processing. More recently, Coreco Imaging was chosen by Le Journal Les Affaires as one of the most successful PME's (small and medium sized businesses) for export, manufacturing and service and technology in Quebec.
Coreco Imaging is a leader in the design, development, manufacturing and marketing of hardware and software for high-performance computer vision applications, primarily in the medical imaging, machine vision and industrial inspection markets. The Company employs approximately 160 people and has operations in Montreal (QC), Ottawa (ON), Vancouver (BC) and Bedford (MA), with additional sales offices in Cleveland (OH) and San Juan Capistrano (CA). Founded in 1979, Coreco Imaging�s success is driven by sound financial management combined with its commitment to the research and development of value-added products to serve the evolving needs of the computer vision market.
This press release contains statements that are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated.
All data in U.S. dollars unless otherwise indicated.
