Message #8 From:
Stock News Bot Date: October 3, 2005 02:00:00 AM
SCNI News Scanner Technologies Announces OEM Agreement and $2 Million Dollar Blanket Purchase Order
MINNEAPOLIS--(BUSINESS WIRE)--Oct. 3, 2005--Elwin M. Beaty, President and CEO of Scanner Technologies Corporation (OTCBB:SCNI), announced today that the Company has entered into a three year agreement with a major Asian OEM for sales of its inspection modules. As part of the agreement, Scanner has received a blanket purchase order in excess of $2.0 million dollars with a delivery schedule to be determined at a later time.
Mr. Beaty, President and CEO of Scanner stated: "We are delighted at winning this very significant OEM's business for our inspection modules. We believe the downcycle of the semiconductor industry was short-lived and far less severe than the ones experienced in the past, with the industry now showing signs of recovery."
About Scanner Technologies Corporation:
Scanner is a New Mexico corporation that invents, develops and markets vision inspection products that are used in the semiconductor industry for the inspection of integrated circuits. Scanner's headquarters are located in Minneapolis, Minnesota. The company has a manufacturing facility in Tempe, Arizona, and sells its products through direct sales offices in San Jose, California, Singapore and in key geographical markets, through sales representatives and distributors throughout the world. Scanner's stock is traded on the Over-The-Counter Bulletin Board under the symbol "SCNI." For more information please visit www.scannertech.com.
Certain statements contained in this press release and other written and oral statements made from time to time by the Company do not relate strictly to historical or current facts. As such, they are considered forward-looking statements which provide current expectations or forecasts of future events. The statement included in this release with respect to the receipt of orders and the shipment of products and the recovery of the semiconductor industry are forward looking statements. These statements involve a variety of risks and uncertainties, known and unknown, including, among others, the risks that the blanket purchase order may be revised or canceled, or that unanticipated delays or problems may arise in the manufacture, testing or installation of the products called for by the order and the possibility of decreased demand in the semiconductor industry. Additional risks related to the Company's business are set forth in the Company's annual and quarterly reports filed with the Securities and Exchange Commission. Consequently, no forward-looking statement can be guaranteed and actual results may vary materially from expectations created by such forward-looking statement.
