Elbit Vision Systems Ltd. Receives $2 Million Follow-On Order from Major European Textile Manufacturer.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. -- Elbit Vision Systems Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : EVSNF.OB) announced today that it has received an order from one of Europe's largest textile manufacturers. The order is valued at approximately $2 million and is expected to be supplied in 2004. This order is for several models of the Company's textile inspection systems, including the latest versions of EVS' industry leading hardware systems and new software solutions. These systems will provide the customer with a complete inspection solution for each phase of the manufacturing process. Yoav Kahane, VP Sales and Marketing of Elbit Vision Systems said: "This order further establishes 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 as the leader in advanced textile inspection systems. With over 100 customers and more than 350 systems currently installed throughout the world, we believe that the Company offers some of the most advanced inspection systems available. We believe that the continued success in our legacy business, coupled with recently introduced products for microelectronics microelectronics, branch of electronic technology devoted to the design and development of extremely small electronic devices that consume very little electric power. , aircraft and automotive applications positions the Company well for long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. growth." 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 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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