Adept Technology Expands Robotics Distribution to Australia and New Zealand
Adept Technology, Inc. Posted 12/18/2007
ControlVision Signed as New Distributor to Bring Advanced Assembly robotics to Australasia Markets
LIVERMORE, Calif.- December 18, 2007, Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, today announced it has signed ControlVision as its new regional distributor for Australasia (Australia and New Zealand). The distribution agreement allows Adept to bring advanced assembly robots to the region and expands its reach into the Australiasia market.
‘‘We are excited to be partnering with ControlVision to bring the most advanced assembly robotics to this growing region,’‘ said John Dulchinos, president and chief operating officer for Adept Technology, Inc. ‘‘With ControlVision’s expertise in automated imaging and our innovative and powerful robot product line we believe we can offer the region the most reliable high-speed solutions available on the market today.’‘
Adept produces a complete range of robot mechanisms for packaging and manufacturing assembly including parallel arm, SCARA, linear module and 6-axis designs. The company recently launched the fastest 2kg payload robot in the world, the Adept Quattro, and already holds the record for the fastest SCARA design. As a controls innovator, Adept supplies its controller product to leading OEM machine builders for inclusion in their own equipment. Adept’s OEM customers include the Swiss packaging giant SIG, now owned by New Zealander Graham Hart’s Rank Group.
For ControlVision, specialists in machine vision, taking on a robot product line is a logical step explains Peter Miles, Director at ControlVision: ‘‘Robotics and vision go hand-in-hand and we’ll be using the same value-added distribution model we use for machine vision. We look forward to providing Adept’s state-of-the-art robot products to our integration partners and OEM customers’‘. ControlVision will target the light robotics market for high-speed, high-accuracy mechanisms. Markets include dairy, food & beverage, pharmaceutical & medical, electronics, automotive and healthcare products.
ControlVision will establish robot laboratories in Melbourne and Auckland early next year and will have the resources of Adept’s Singapore facility for specialist application evaluations and customer training.
ControlVision is a specialist distributor of best-in-class machine vision and robotic products in New Zealand and Australia. The company provides specialist sales, support, training and engineering services. More information is available at www.controlvision.com.au
About Adept Technology, Inc.
Adept is a global, leading provider of intelligent robotics systems and services that enable customers to achieve precision, speed, quality and productivity in their assembly, handling, packaging, testing and other automated processes. With a comprehensive portfolio of high-performance motion controllers, application development software, vision-guidance technology and high-reliability robot mechanisms, Adept provides specialized, cost-effective robotics systems and services to high-growth markets including Packaged Goods, Life Sciences, Disk Drive/Electronics and Semiconductor/Solar; as well as to traditional industrial markets including machine tool automation and automotive components. More information is available at www.adept.com.
All trade names are either trademarks or registered trademarks of their respective holders.
This press release contains certain forward-looking statements including statements regarding revenues, profitability, products, market opportunities and Adept's growth and impact of its restructuring based on its current products, strategy and market presence that involve a number of risks and uncertainties. The Company's actual results could differ materially from those expressed in any of the above forward-looking statements for a variety of reasons, including but not limited to, factors affecting our operating results including factors difficult to forecast; future economic, competitive and market conditions including those in Europe and Asia and those related to the Company's strategic markets; risks of acceptance of the Company's new or current products in the marketplace; the actual results of our restructuring activities, and potential impact of current restructuring efforts; the financial and operating risks and regulatory requirements associated with international operations, sales and foreign suppliers; the cyclicality of capital spending of the Company's customers and lack of long-term customer contracts; customers' ability to pay invoices in a timely manner; the risk that some customers may become insolvent; dependence on the continued growth of the intelligent automation market; the highly competitive nature of and rapid technological change and competition within the intelligent automation industry; the lengthy sales cycles for the Company's products; the Company's limited cash resources and significant fixed costs which are not easily reduced; the Company's outsourced manufacturing dependence and risks associated with sole or single sources of supply and lengthy procurement lead times; risks associated with the seasonality of the Company's products; risks associated with product defects; potential delays associated with the development and introduction of new products or software releases; the Company's ability to sell its products through systems integrators and original equipment manufacturers who may also promote competing products; risks associated with variations in our gross margins based on factors not always in Adept's control; the need to hire and retain qualified managerial personnel and to complete acquisitions to expand operations; risks of unfair termination claims by employees; risks associated with variations in gross margins; risks related to the Company's potential inability to strengthen its internal controls over financial reporting; potential securities class action litigation if Adept's stock price remains volatile or operating results suffer; and costs of being a public company as a result of legislation requiring greater general and administrative costs to be incurred.
For a discussion of risk factors relating to Adept's business, see Adept's SEC filings, including the Company's annual report on Form 10-K for the fiscal year ended June 30, 2007, which include the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors contained therein.
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