Axsys Technologies Invests $1 Million in High-Performance Optical Fabrication and Metrology Equipment.

ROCHESTER HILLS, Mich.--(BUSINESS WIRE)--November 4, 1998-- Axsys Technologies, Inc. (Nasdaq: AXYS) Speedring Systems subsidiary has recently invested $1 million in high-performance optical fabrication and metrology equipment. The equipment will improve performance while lowering the cost of producing the precision metal optics incorporated in Axsys' precision laser scanners and imaging subsystems, as well as optics sold to manufacturers of defense and space electro-optic systems.

Axsys' new equipment includes the Optimum 1200 and the Nanoform 600, purchased from Precitech. The Optimum 1200 is a CNC flycutting machine for producing extremely fine optical finishes in a production environment. It increases production capacity and reduces costs through an increased efficiency and tighter process control. Axsys can now produce polygons, monogons and plano mirrors for use in commercial and military applications in high volumes with much greater geometrical accuracy than previous methods would yield.

The Nanoform 600 is a state-of-the-art, CNC single-point diamond turning center, outfitted with "Ultracomp" - a machine form measurement and error compensation system. With the Nanoform 600, Axsys can competitively produce net-machined aspheric components with surface figure and finish suitable for visible applications, including the optical elements used in imaging subsystems developed for graphic arts applications. The Nanoform 600 bridges the technology gap between existing diamond turning capability and conventionally polished optics, offering our customers the broadest range of aspheric capability under one roof.

Axsys has also purchased a Phase Shift MicroXAM 30 HR optical profilometer, a critical piece of metrology equipment for measuring peak to valley and RMS surface roughness of optical components.

"With this new equipment, Axsys' capabilities are elevated to state-of-the-art within the industry," said Dale Sabo, vice-president of marketing and sales for Axsys' Speedring Systems. "This, along with the four continuous polishing machines added last year, combined with our beryllium machining heritage, allows us to better serve the needs of our customers on their next generation systems."

Axsys Technologies, Inc. supplies micro-positioning and precision optical products for a variety of markets, including defense, space, digital imaging and electronics capital equipment. The company also produces interconnect devices and distributes precision ball bearings for industrial, consumer and other commercial applications. For more information, contact Axsys Technologies, Inc., 910 Sylvan Avenue, Suite 180, Englewood Cliffs, NJ 07632. [phone], FAX [phone]; web: www.axsys.com.