Adept Technology Signs Rohwedder Pematech as European Value-Added Distributor.Business Editors/High-Tech Writers LIVERMORE, Calif.--(BUSINESS WIRE)--Nov. 10, 2003 Rohwedder Pematech to Introduce Adept Odd-Form Electronics Assembly Automation Technology to European Market Adept Technology, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADTK), a leading manufacturer of flexible automation for the semiconductor, electronics, automotive, fiber optic, telecommunications and life sciences industries, today announced it has signed Rohwedder Pematech as its European distributor of the Adept CHADIQ(TM) odd-form electronic components assembly platforms and marks the first introduction of this technology to the European market. "Because of Rohwedder Pematech's excellent market coverage and strong electronics knowledge, they are ideally suited for the introduction of automated electronic assembly platforms to the European market," said Charlie Duncheon, executive vice president of Adept Technology. "We believe the Adept CHADIQ technology, coupled with Pematech's industry presence and systems process expertise, will provide customers with high-quality, cost-effective and well-supported electronics assembly systems." "With Adept's products and services and Pematech's worldwide market position and extensive experience in the electronic industry, we will have a strong partnership for efficiently serving the odd-form market in Europe," said Klaus Kroesen, managing director of Rohwedder Pematech. "Adept's quality and breadth of automation products give us the best opportunity to provide our customers with a broader range of value-added automated solutions for their electronic production." The Adept CHADIQh(TM) and Adept CHADIQt(TM) solutions are the hallmark hallmark, mark impressed on silverwork or goldwork to signify official approval of the standard of purity of the metal, also called plate mark. The hallmark was introduced by statute in England in 1300 and enforced by the Goldsmiths' Hall, London. of Adept's odd-form and electronics final assembly automation technology. The platforms are designed to provide cost-effective reliable performance for electronics board assembly. The Adept CHADIQ product line combined with patented modular tools, enables customers to assemble most odd-form component types, including axials, radials, header (1) In a disk or tape file, a set of data that resides permanently at the beginning. It may be used for identification only (type of file, date of last update, etc.), or it may describe the structural layout of the contents, as is common with many document and database formats. strip, DIPs, SIPs, connectors, transformers, telephone jacks, relays, TO-220s, displays, LEDs, surface mount, small daughter boards, switches, PGAs and more on a single platform. Rohwedder Pematech was founded in 1980 and is located in Radolfzell, Germany. The company produces high-quality semi- and fully automated test lines, handling modules and depanelizers for the electronics industry. Their service range includes complete system solutions for testing, assembly and handling of PCBs, components and completely assembled units. More information on Rohwedder Pematech can be found on their website at http://www.rohwedder.de/index-pema-e.html. Adept Technology designs, manufactures and markets factory automation components and systems for the fiber optic, telecommunications, semiconductor, automotive, food and durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. industries throughout the world. Adept's robots, controllers, and software products are used for small parts assembly, material handling and ultra precision process applications. Our intelligent automation product lines include industrial robots An industrial robot is officially defined by ISO[1] as an automatically controlled, reprogrammable, multipurpose manipulator programmable in three or more axes. , configurable linear modules, flexible feeders, semiconductor process components, nanopositioners, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, systems and software, application software and simulation software Simulation software is based on the process of imitating a real phenomenon with a set of mathematical formulas. It is, essentially, a program that allows the user to observe an operation through simulation without actually running the program. . Founded in 1983, Adept is America's largest manufacturer of industrial robots. More information is available at www.adept.com. This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. including statements regarding cash balances, expenses, revenue and future operating results that involve a number of risks and uncertainties. The company's actual results could differ materially from those expressed in any of the above forward-looking statements for a variety of reasons, including but not limited to, its customers ability to pay invoices in a timely manner, the risk that some of its customers may become insolvent INSOLVENT. This word has several meanings. It signifies a person whose estate is not sufficient to pay his debts. Civ. Code of Louisiana, art. 1980.. A person is also said to be insolvent, who is under a present inability to answer, in the ordinary course of business, the responsibility , future economic, competitive and market conditions including those in Europe and Asia and those related to the company's strategic markets; the company's continuing operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. causing the company to need to raise additional financing in the future; the cyclicality of capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. of the company's customers, including in the semiconductor industry and lack of long-term customer contracts; the company's dependence on the continued growth of the intelligent automation market; the company's highly competitive industry; rapid technological change within the intelligent automation industry; the lengthy sales cycles for the company's products; the company's significant fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). which are not easily reduced; the risks associated with sole or single sources of supply and lengthy procurement lead times The interval in months between the initiation of procurement action and receipt into the supply system of the production model (excludes prototypes) purchased as the result of such actions. It is composed of two elements, production lead time and administrative lead time. ; the risks associated with acquisitions, including integration risks associated with our previous acquisitions; the risks associated with product defects; the potential delays associated with the development and introduction of new products or software releases; or decreased acceptance of the company's new or current products in the marketplace. In addition, management's estimate of cash available during any fiscal quarter is based upon its estimates as to the timing of cash receipts and when its obligations become due during the fiscal quarter. If management's estimates of timing or amounts prove inaccurate, the company could consume substantially all of its cash. For a discussion of additional risk factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Adept's business, see Adept's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended June 30, 2003, as amended, including the discussion in Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations contained therein. The Adept logo is a registered trademark of Adept Technology, Inc. Adept, Adept CHADIQ, Adept CHADIQh and Adept CHADIQt are trademarks of Adept Technology. All other trademarks are owned by their respective companies. |
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