IVISYS : receives third order from global compressor manufacturer

Press release
IVISYS AB
556998-4981
10 January 2018

IVISYS AB ('IVISYS') has received an additional order from a compressor manufacturer in Belgium. The order concerns a customized 3D sensor solution for inspecting complex, moving metal objects. The total order value is approximately 40 000 EUR and is expected to impact IVISYS' 2018 Q1 results.

This order follows two previous orders from the compressor manufacturer, announced on 18 January 2017 and 7 August 2017 and concerns an advanced 3D sensor solution.

The compressor manufacturer has operations in more than 90 countries around the world and employs more than 40 000 employees.

CTO MOATASEM CHEHAIBER COMMENTS

'We have already met the need from the customer for a solution, that helps the customer solve a highly complex inspection task. This follow up order shows that we can expect more orders from our existing clients as we keep them happy and further develop long-lasting partnerships with them. In this case, being challenged to provide ever more advanced solutions is of course a great pleasure as we always strive to raise the bar for what it is possible to do with our unique method of combining software and hardware,' says IVISYS' CTO Moatasem Chehaiber.

CERTIFIED ADVISER

Sedermera Fondkommission is IVISYS' Certified Adviser.

FOR FURTHER INFORMATION, PLEASE CONTACT

Moatasem Chehaiber, CTO of IVISYS AB
Phone: [phone]
E-mail: [e-mail]

This information is information that IVISYS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on 10 January 2018.

ABOUT IVISYS

IVISYS provides vision-based quality inspection solutions for industry, which can replace both manual and mechanical quality control. IVISYS' unique patented solutions make it possible to perform complex quality control while keeping the existing production flow unaffected. Unlike existing solutions, IVISYS' approach makes it possible to perform complex surface controls, control measurements on the micron level and control multiple components in one instant process. The solutions are based on IVISYS' patented image data processing, which differs fundamentally from the conventional processes used within vision systems today. IVISYS is capable of utilizing high-resolution cameras in the company's image processing, while at the same time processing image information faster than the company's competitors. The solutions offered have an average payback period of approximately six months for customers currently relying on mechanical or manual control.

Winner of Frost & Sullivan's 2017 Entrepreneur of the Year in Europe Award.