if this program only helps a small community of customers gain the ability to implement much needed technology I will call it a success.
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Lake Mary, Fla. (Vocus) April 23, 2009
Hoping "to help get the manufacturing process moving again," FARO Technologies (NASDAQ: FARO) has unveiled a Technology Test Drive program it says will put the company's leading-edge 3D measurement devices on customers' shop floors without capital expense and help them implement necessary technology to remain competitive during these difficult economic times.
The program makes FARO's entire line of portable 3D measurement and imaging devices available to customers over a four-month period for a monthly fee as low as $2,000 with 100 percent of that fee applied to the purchase at the end of the test drive, after which FARO will replace the test driven unit with a brand new device. As well, the fee includes unlimited training throughout the test drive to assure that the customer's employees are able to fully integrate the technology into their business process. In the event the customer cannot fully justify the technology, they can simply return it at the end of the four months.
"Our regional managers have heard from customers throughout all industries that they need our technology to help win contracts, but without those orders they are hard-pressed to commit the resources to buy essential measurement tools," said FARO Technologies Senior Vice President & Managing Director for the Americas, David Morse. "Call it a Technology Test Drive or call it a risk-free program, but if we can help them be competitive and win as well as maintain essential contracts it is good for our customers, for FARO and certainly very good for the economy as a whole."
Companies like Harrisburg, Pa.-based Plouse Precision Manufacturing have already expressed significant interest in the program. "Traditionally, we have manufactured components that have a fairly small footprint and are easily inspected with our existing technology, but we currently have an opportunity to submit prototypes for much larger parts that are perfectly suited for the FaroArm®," said Plouse President Dale Seitz. "The Technology Test Drive program will allow us to supply these prototypes to our customer with all the inspection data they require, without having to commit to a full purchase until we secure a contract from that customer."
FARO has received additional interest in this type of program from customers such as Seitz, and Morse said "if this program only helps a small community of customers gain the ability to implement much needed technology I will call it a success."
FARO designs, develops and markets portable measurement devices and software used to create digital models or to perform evaluations against existing models for anything requiring highly detailed 3D measurements. FARO's devices include: the FaroArm®; the world's best-selling laser tracker - the FARO® Laser Tracker X and Xi; the FARO Laser ScanArm®; FARO® Laser Scanner; the FARO® Gage, GagePlus and PowerGage; and, the CAM2® family of advanced CAD-based measurement and reporting software, and target an enormous range of industries. Industries with particularly large applications include automotive and aerospace manufacturers and their Tier One suppliers, machine tool shops, engineering firms and those who rely on industrial machinery.
The tools are used everywhere from mega manufacturing facilities to small and medium-sized machine shops in cities across the country. FARO products have been purchased by approximately 9,200 customers worldwide, ranging from small machine shops to such large manufacturing and industrial companies as Audi, Bell Helicopter, Boeing, British Aerospace, Caterpillar, DaimlerChrysler, General Electric, General Motors, Honda, Johnson Controls, Komatsu Dresser, Lockheed Martin, Nissan, Siemens and Volkswagen, among many others.
"We need to get the manufacturing process moving again," said Pete Edmonds, vice president of sales for the Americas Division. "We could have taken a different approach, but this is the fastest way to get critical technology in the hands of companies that are telling us they have to have these tools to continuously improve their products and processes. This program lets our customers bring in the technology they need, test it in a real-world application and then fully integrate the right solution into their process."
Here's how it works:
For a small monthly fee, FARO will install the appropriate technology solutions and provide set up and initial on-site training (along with unlimited training at a FARO training facility) for a four-month period. At the end of the program, customers have the option of applying their full investment toward the purchase and installation of brand new equipment or returning the equipment with no further obligation. For more information on the FARO Technology Test Drive program visit http://www.testdrive.faro.com, call (888) 660-0146 (toll free) or (407) 562-5179 (local).
FARO (NASDAQ: FARO) develops and markets computer-aided coordinate measurement devices and software. Portable equipment from FARO permits high-precision 3D measurement and comparison of parts and compound structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, production planning, inventory documentation, as well as for investigation and reconstruction of accident sites or crime scenes. They are also employed to generate digital scans of historic sites.
Worldwide, approximately 9,200 customers are operating more than 19,600 installations of FARO's systems. The company's global headquarters is located in Lake Mary, Fla., its European head office in Stuttgart, Germany and its Asia/Pacific head office in Singapore. FARO has branches in Canada, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Netherlands, India, China, Singapore, Malaysia, Vietnam, Thailand and Japan.
Further information: http://www.faro.com.
Curley & Pynn