AUTOMATION ENGINEERING INCORPORATED SPUN OFF FROM AXSYS TECHNOLOGIES (NASDAQ: AXYS)
Investment group includes senior management and outside investors
Wilmington, Mass. October 30, 2002 - Automation Engineering Incorporated (AEi), a leading supplier of machine vision and motion control technology for flexible automation, today announced that it was being spun off from Axsys Technologies.
“We are very excited at the opportunity of refocusing AEi on designing and delivering automation systems for multiple high growth markets. AEi will continue its philosophy of offering vision-guided precision automation solutions to a range of industries. However, over the next 12 months we intend on increasing our share of the automation market for the life sciences and medical device industries,” said Andre By, Chief Technology Officer at AEi.
"AEi has a heritage of implementing flexible automation systems for demanding applications using machine vision and motion control for over 12 years. Our customers recognize the strong correlation between history and future performance and how they can minimize risk by relying on a company with strong operations and technologies in automation. AEi is well positioned, both in capabilities and in investment, to grow the business significantly over the next few years," said Justin Roe, Chief Operating Officer at AEi.
AEi, founded in 1990, is a leading supplier of machine vision and motion control technology for flexible automation. AEi develops open architecture software for machine vision and motion control plus operates as a systems integrator for advanced control systems as well as complete turn-key automation machinery for the aerospace, consumer products, electronics, fiber optics, electronics, medical devices, photonics, and many other industries. AEi technology and systems are currently in production across North America, Europe, and the Pacific Rim. Additional AEi product and services information is available at its web site at http://www.aeiboston.com.