Printer Friendly

Canadian Autoparts Toyota Inc. Contracts BrainTech To Undertake Feasibility Study.

NORTH VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 20, 1999--

BrainTech Inc. (OTCBB:BNTI), announced today that it has been granted a Feasibility Contract by Canadian Autoparts Toyota Inc., known as CAPTIN.

Toyota Inc. was the first Japanese automobile company to open a major manufacturing facility in Canada. Their factory, which is situated in Delta, British Columbia, manufactures approximately 1,000,000 aluminum alloy wheels per year. CAPTIN supplies wheels to Toyota manufacturing facilities in Canada, the United States and Japan. Canadian Autoparts Toyota Inc., has contracted BrainTech to study the feasibility for automatic identification for various types of wheels, as well as inspection of various physical parameters of individual wheels.

It is anticipated that utilizing BNTI's BrainTron classifier and machine vision technology for the identification of various wheels will allow CAPTIN to give advanced instructions to various processing stations, by predicting a certain type of wheel and adjusting their parameters accordingly. This is intended to reduce mistakes and increase the overall efficiency of the manufacturing process. In addition to the identification of wheels, BrainTech will also investigate the feasibility of extracting other features from wheels such as surface finish, color, dimensions etc. for the purposes of inspection and quality control.

About Canadian Autoparts Toyota Inc.

In 1985, Canadian Autoparts Toyota Inc., known as CAPTIN, began producing aluminum alloy wheels in Delta, British Columbia. By 1987, this $20 million investment had reached its targeted maximum output of 240,000 wheels annually. A $26 million expansion project completed during 1989 increased annual output to over 480,000. An additional expansion in the early 1990s brought total investment to about $96 million, and production capacity to over 700,000 wheels yearly. Presently the factory produces approximately 1,000,000 wheels annually and is gearing up its systems to increase production further. CAPTIN is an important supplier of wheels to Toyota manufacturing facilities in Canada, the United States and Japan.

About BrainTech Inc.

BrainTech specializes in the design, development and commercialization of advanced pattern recognition technologies and products. Founded in 1994, the company builds highly effective, adaptive pattern matching recognition systems based on its patented technologies. BrainTech is a public trading company listed on the OTC Bulletin Board, and trades under the symbol BNTI. For more information, visit http://www.bnti.com.

ON BEHALF OF THE BOARD OWEN JONES CEO, DIRECTOR

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by BrainTech, Inc.) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of BrainTech, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state income tax laws, and market competition factors.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1CANA
Date:Oct 20, 1999
Words:545
Previous Article:CCBN.com Launches SmartBlast; New Service Targets Investors Via E-mail and Fax.
Next Article:Pathobiotek Technology Well Received At International Infectious Disease Meeting.
Topics:


Related Articles
Funding business research: specialized grants can provide $$ for your high-tech firm.
Dealing with the rising sun: Mexico eyes a Japanese trade deal. (Spotlight).
Town of Chapleau.
Delphi Mexico: a major force in the autoparts sector.
Busy bodies.
Northwest regional: job shops can automate, go global.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters