FORT MYERS, Fla., Oct. 25, 2004 (PRIMEZONE) -- RWT (Robotic Workspace Technologies, Inc.), a subsidiary of Innova Holdings, Inc. (OTCBB:IVHG), announced today that it has renewed its agreement with The Classic Companies (Troy, MI), effectively extending and expanding the terms of the strategic alliance RWT and Classic entered into in 1999.
"The Classic Companies are uniquely qualified to partner with RWT on the sales, installation, and service of the Universal Robot Controller (URC(tm)) in the automotive marketplace, where the majority of robots are deployed," says Walter Weisel, CEO of RWT and Innova Holdings. "There are over 135,000 robotic arms used in manufactuing automobiles in North America. Most, if not all of these arms are in good mechnanical condition but are controlled by obsolete proprietary controls. The market opportunitiy for upgrading with RWT's "plug and play" open PC control is enormous."
RWT's URC, which has been awarded two U.S. founder's patents, utilizes the PC platform and the Microsoft(R) Windows(R) environment to provide the world's first truly open-architecture PC control system for controlling robots and other automated equipment and processes. It also serves as a higher-level supervisory control. The URC features a "plug-and-play" design that facilitates the easy replacement of proprietary controls. The URC's universal robot programming language, RobotScript(R), is a derivative of Microsoft's Visual Basic.
RWT's PC control is currently operating a variety of ABB, Fanuc, Cincinnati Milacron, Kawasaki, and Yaskawa Motoman robot arms being used in North America at Fortune 100 companies like General Dynamics and Lockheed, at Oakridge National Laboratories, and Tier 1 automotive manufacturing plants. Multiple units are operating at several customers' manufacturing facilities.
"We've built a reputation for providing our customers with cost-effective, advanced solutions that help solve production problems today and tomorrow," says Ken Kareta, CEO, The Classic Companies. "The URC represents a control technology breakthrough that provides the connectivity, interoperability, and scalability needed to meet manufacturing requirements today and in the future. In addition to new OEM sales, a superb application for the URC is in the upgrading of existing robots. At this time, we estimate that at least 65,000 robots used for spot welding applications, most in the automotive industry, are candidates for an upgrade from the OEM control to RWT's URC that The Classic Company provides. This represents a $250 million opportunity. We are pleased to extend our strategic alliance with RWT."
Drawing on 30 years experience in the automotive industry, The Classic Companies -- Classic Design, CSI, and Classic Graphics -- provide a full range of manufacturing engineering services from process engineering through simulation and programming, to equipment manufacturing and systems design and integration, to final installation and runoff. The ISO-9001 certified organization operates from three facilities in the Detroit area. Some of its customers include BMW, DaimlerChrysler, Ford, General Motors, Honda, Johnson Controls, and other manufacturers in the aerospace, automotive, and general industries.
About Innova Holdings, Inc.
Innova Holdings, Inc. (OTCBB:IVHG), Fort Myers, Florida, is a holding company that builds shareholder value by acquiring technology-differentiated companies with extraordinary potential for profitable and sustainable growth. Innova intends to build acquired companies to become substantial value-driving subsidiaries and/or attractive candidates for either a strategic sale or a public spin-off. Some targeted companies will be merged into subsidiaries of Innova and other targeted companies will form the basis for new subsidiary entities.
About Robotics Workspace Technologies, Inc.
Robotic Workspace Technologies (RWT), Fort Myers, Florida, is a leading provider of non-proprietary, open-architecture PC controls and related products that improve the performance, applicability, and productivity of robots and other automated equipment. Its technology has been applied in industries ranging from agriculture to automotive, to medical and R&D. RWT is recognized internationally for its pioneering contributions to the robotics industry. Its founder, Mr. Walter Weisel, has been a driving force in the robot industry for the past 32 years, and is a recipient of the prestigious Joseph F. Engelberger Award, recognizing his contributions to the advancement of robotics and automation.
RWT(tm), Universal Robot Controller(tm), URC RobotScript(R) and TeachPoint File Creator(tm) are either registered trademarks or trademarks of Innova Holdings, Inc. in the United States and/or other countries.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Forward-looking statements such as "believe," "expect," "may," "plan," "intend," etc. contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the Company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Therefore, undue reliance should not be placed on any forward-looking statements, since they apply only as of today's date, and accordingly, reference should be made to the Company's periodic filings with the SEC.Forward-looking statements such as "anticipate," "believe," "expect," "may," "will," "should," "plan," "projected," "intend," etc. contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the Company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Therefore, undue reliance should not be placed on any forward-looking statements, since they apply only as of today's date, and accordingly, reference should be made to the Company's periodic filings with the SEC.
For more information on Innova, contact: Ronald L. Garner, Equitilink, LLC at 877-7878-1940.
FOR MORE INFORMATION CONTACT: Sandra L. Brooks INCOMM International Inc. Tel: (904) 778-4434 Email: slbrooks@incomminternational.com URL: www.incomminternational.com