IVISYS : receives order from GKN in Italy

Press release
IVISYS AB
556998-4981
12 January 2018

IVISYS AB ('IVISYS') has received an order from GKN Sinter Metals in Italy. The order concerns a full system for automated, high-speed flaw detection in metal parts. The total order value is more than 100 000 EUR and is expected to impact IVISYS' Q1 2018 results.

This is the second order IVISYS has received from a company within the GKN group. The system will be able to perform quality inspections of surface flaws on a variety of components manufactured in the factory. As it is a high-speed manufacturing environment, the system will have the ability to comply with the factory's high-speed performance requirements of more than 300 inspections per minute.

The GKN group is a global supplier to the automotive sector, with more than 150 factories worldwide and more than 58.000 employees. Previously, IVISYS has received an order from GKN in the US.

CEO Jakob Kesje comments

'This is the second order we have received from a company in the GKN group. As a part of our long-term strategy, we have a goal of expanding our global footprint along with the presence of our international customers. Therefore, it is very pleasing to experience a pattern of repeated purchases from GKN from various geographical locations, as is now starting to emerge. Also, it testifies to the fact that our products do alleviate major quality control issues, making it reasonable for manufacturers to invest in the acquisition of our solutions. Further this confirms my expectations that every new order will spark further multiple purchases.' says CEO of IVISYS Jakob Kesje.

Certified Adviser

Sedermera Fondkommission is IVISYS' Certified Adviser.

For further information, please contact

Jakob Kesje, CEO 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 12 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 utilising 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.

IVISYS is the winner of Frost & Sullivan's 2017 Entrepreneur of the Year in Europe Award.