Elbit Vision Systems Ltd. Introduces New Seatbelt Inspection System to Enable Increased Passenger Safety.YOQNEAM, Israel Israel, in the Bible Israel (ĭz`rēəl, ĭz`rāəl) [as understood by Hebrews,=he strives with God], according to the book of Genesis, name given to Jacob as eponymous ancestor of the Hebrews, the chosen people of God. -- Company Receives Initial Order from Japanese Manufacturer for New Automatic Inspection System Elbit Vision Systems Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : EVSNF.OB) announced today that it has received an order from a Japanese manufacturer of automotive seatbelt. This is the first order for the Company's automatic inspection system for vehicle seatbelts. The potential value of the order is approximately $1,500,000. The new system is capable of inspecting several strips of seatbelt fabric simultaneously, with the inspection results of each strip viewable on a single monitor. EVS' seatbelt inspection system complements the Company's existing tire cord inspection system, offering customers another effective tool to ensure a high level of product reliability and safety for end users. Mr. Yoav Kahane, VP Sales & Marketing of EVS EVS European Voluntary Service EVS Environmental Science EVS Electric Vehicle Symposium EVS Enhanced Vision System EVS environmental studies EVS European Values Study EVS Electronic Verification System EVS Extreme Voltage Shutdown said, "Given the importance of effective inspection for automotive applications as well as the lack of widely available solutions, we believe that this market segment represents significant growth potential for the Company. The need for detection of flaws in the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. goes well beyond the ability to identify cosmetic cosmetic /cos·met·ic/ (koz-met´ik) 1. pertaining to cosmesis. 2. a beautifying substance or preparation. cos·met·ic n. defects, as the safety of such applications is critical for both the auto manufacturers and consumers. We are pleased that this customer has chosen to work with EVS and believe that with our new seatbelt inspection system, we can effectively meet the needs of the automotive market, duplicating the success of our tire cord inspection system which is being used by some of the world's leading auto manufacturers." About the Company: Elbit Vision Systems Ltd. designs, develops, manufactures, markets and supports automatic optical inspection and quality monitoring systems for the industrial, web and microelectronics microelectronics, branch of electronic technology devoted to the design and development of extremely small electronic devices that consume very little electric power. industries. Company product lines improve product quality and increase production efficiency in the textile, automotive, non-woven, plastics, wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. and LCD (Liquid Crystal Display) A display technology that uses rod-shaped molecules (liquid crystals) that flow like liquid and bend light. Unenergized, the crystals direct light through two polarizing filters, allowing a natural background color to show. industries. Forward looking statements in this release with respect to the Company's 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 Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings. |
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