PPT VISION, Inc. Announces Expanded OEM Supply and Product Development Agreement with ISMECA | Automation.com

PPT VISION, Inc. Announces Expanded OEM Supply and Product Development Agreement with ISMECA

January 262004

MINNEAPOLIS, January 26, 2004 -- PPT VISION, Inc. (Nasdaq: PPTV) today announced that it has entered into an amendment of its OEM supply agreement with Ismeca Europe Semiconductor SA, a world-leading supplier of automation solutions targeted at the semiconductor back-end manufacturing process. PPT provides Ismeca with its patented SpeedScan 3D™ and IMPACT™ 2D machine vision solutions for use in Ismeca’s new LTM™ series tray-to-tray and tray-to-tape scanning machines. The agreement calls for PPT VISION to provide 2D and 3D engineering support services to Ismeca over the next 18 months. The total value of the engineering services agreement is approximately $1.3 million. In addition, PPT has agreed to provide its patented SpeedScan 3D technology to Ismeca on an exclusive basis for the semiconductor back-end market segment subject to certain minimum purchase requirements.

“We are very happy to expand our strategic partnership with Ismeca, an industry-leading supplier of semiconductor systems,” stated Mr. Joe Christenson, President of PPT VISION. “The services that PPT will provide represent an opportunity for PPT and Ismeca to develop solutions that will enhance the technical capabilities of the inspection elements of Ismeca’s LTM machine, thereby improving further the market-leading performance of the Ismeca LTM machines. Working together, we can more effectively capitalize on this rapidly developing market opportunity,” concluded Mr. Christenson.

“PPT’s high performance SpeedScan 3D technology and its commitment to technical support have led us to broaden our relationship with PPT,” stated Mr. Beat Siegrist, Chief Executive Officer of Ismeca. “By including PPT’s high-speed SpeedScan 3D technology with our LTM series machines, we are able to offer our customers the fastest 3D scanning solutions available on the market, supported by our global sales and service network,” concluded Mr. Siegrist.

About PPT VISION

PPT VISION, Inc. develops and markets 2D and 3D machine vision-based automated inspection systems for manufacturing applications. Machine vision-based systems enable manufacturers to realize significant economic paybacks by increasing the quality of manufactured parts and improving the productivity of manufacturing processes. The Company’s 2D and 3D machine vision product lines are sold on a global basis to original equipment manufacturers (OEMs), system integrators, machine builders, and end-users, primarily in the electronic and semiconductor component, automotive, medical device, and packaged goods industries. The Company’s SpeedScan 3D™ sensor product incorporates PPT VISION’s patented high-speed Scanning Moiré Interferometry™ technology. The Company's Common Stock trades on the Nasdaq Small Cap Market tier of The Nasdaq Stock Market under the symbol PPTV.

For more information, please see the PPT VISION, Inc. web site at www.pptvision.com.

About ISMECA

Ismeca Semiconductor, a subsidiary of Schweiter Technologies, is a worldwide leader in the back end and finishing of semiconductor components. Ismeca Semiconductor is the world’s number one supplier of semiconductor tape and reel systems. Ismeca also offers test handling, marking function, lead scanning capabilities and fully integrated lines to the semiconductor industry. Its innovative machines are used by practically all major semiconductor manufacturers.

For more information, please see the Ismeca web site at www.ismeca.com.

Forward Looking Statements

The discussion above contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s expectations, beliefs, intentions and strategies regarding the future. Forward-looking statements include, without limitation, statements regarding the extent and timing of future revenues and expenses and customer demand. All forward-looking statements included in this document are based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any such forward-looking statements.

The Company’s actual results are subject to risks and uncertainties and could differ materially from those discussed in the forward-looking statements. These statements are based upon the Company’s expectations regarding a number of factors, including the Company’s ability to obtain additional working capital if necessary to support its operations, the success of the Company’s new IMPACT machine vision micro-system, changes in worldwide general economic conditions, cyclicality of capital spending by customers, the Company’s ability to keep pace with technological developments and evolving industry standards, worldwide competition, and the Company’s ability to protect its existing intellectual property from challenges from fourth parties. A detailed description of the factors that could cause future results to materially differ from the Company’s recent results or those projected in the forward-looking statements are contained in the section entitled “Description of Business” under the caption “Important Factors Regarding Forward-Looking Statements” contained in its filing with the Securities and Exchange Commission on Form 10-KSB for the year ended October 31, 2002 and other reports filed with the Securities and Exchange Commission.


 

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