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ELBIT VISION SYSTEMS (EVS) RECEIVES FIRST ORDER FROM RUSSIA
"OAO VYSOKOVSKY" HAS ORDERED EVS' STATE-OF-THE-ART I-TEX SOLUTION TO BE USED TO INSPECT RAW FABRICS TO COMPETE IN THE GLOBAL MARKET
ELBIT VISION SYSTEMS LTD.
BUSINESS NEWS
IMMEDIATE RELEASE
ELBIT VISION SYSTEMS (EVS) RECEIVES FIRST ORDER FROM RUSSIA
Yoqneam, Israel, February 5, 2002 - Elbit Vision Systems (EVS) Ltd. (NASDAQ: EVSN) announced its first order from Russia.
"OAO Vysokovsky", one of Russia's leading textile manufacturers, owned by Altro WarenhandelsGes. MbH, has ordered EVS' state-of the-art I-TEX solution. OAO Vysokovski will use the I-TEX system to inspect raw fabrics to compete in the global market.
"The management of OAO Vysokovsky Textil has chosen EVS' well proven technology to provide a full solution for automatic inspection process, implemented worldwide", said Mrs. Ludmila Melnikova, the Managing Director of OAO Vysokovsky, Russia.
"In a strive to compete in the global market, we have adopted the "I-TEX Inspected" concept as a standard and as a means to boost products quality and improve yields", added Mrs. Melnikova.
Mr. Michael Sharon, Vice President and Managing Director of EVS Europe said "we are extremely pleased to see the continued market success of EVS solutions".
The penetration to the fast-growing and big textile market in Russia is of high importance, because the drive to adopt automatic inspection there, is clearly to improve the competitiveness of Russian manufacturers by improving yields and quality. "I believe it is one more step in the long way of making "I-TEX Inspected" a global standard", he continued.
Altro WarenhandelsGes. MbH is owned by members of the immediate family of Nir Alon, chairman of the board of directors of EVS and currently a 34.42% shareholder in EVS.
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Elbit Vision Systems Limited designs, develops, manufactures, markets and supports automatic optical inspection and quality monitoring systems for the textile and the non-woven industries. The Companys systems, marketed under the brand I-TEXTM and PRINTEXTM, are designed to increase the accuracy, consistency and speed of detecting and identifying defects in the manufacturing process in order to improve product quality and increase production efficiency.
OAO Vysokovski Textil is Russia's large spinning and weaving manufacturer that offers grey cotton and plain fabrics to international and local markets.
Contact:
Idan Kleifeld - VP Marketing, Elbit Vision Systems Ltd., idan@evs.co.il , Tel: 972-4-993-6400
Forward looking statements in this release with respect to the Companys business, financial condition and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Companys accounting policies as well as certain other risk factors which are detailed from time to time in the Companys SEC filings
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