CAESAREA, Israel, May 16, 2016 (GLOBE NEWSWIRE) -- Elbit Vision Systems Ltd. (OTC:EVSNF), a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced today that it received an order of $0.5 million for its IQ-TEX4 systems from a major manufacturer of nonwoven fabrics. These systems are expected to be delivered in the coming weeks.
EVS’ IQ-TEX4 systems will be integrated into the manufacturer’s high-speed lines, replacing existing competition systems.
Mr. Sam Cohen, CEO of EVS, commented, “We are always proud to create new partnerships with new companies, but winning bids to replace competing systems to ours, carry a higher significance. It proves that all of our efforts to create the leading vision inspection technology are bearing fruit. Our vision for the future of manufacturing is becoming a reality with steep upward trends in global labor costs forcing markets into an “adopt or die” situation regarding automation. These factors, coupled with our incredible cost-to-performance pricing model, have positioned EVS well for tremendous growth in the coming years. Moreover, we feel confident that the results of the second quarter will continue to be solid.”
About Elbit Vision Systems Ltd. (EVS): www.evs.co.il
EVS offers a broad portfolio of automatic State-of-the-Art Visual Inspection Systems for both in-line and off-line applications, and process monitoring systems used to improve product quality, safety, and increase production efficiency. EVS' systems are used by over 800 customers, many of which are leading global companies.
This press release and other releases are available on www.evs.co.il.
Safe Harbor Statement
This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
Source:Elbit Vision Systems Ltd.