FARO Begins Operations in China
"Establishing FARO China was in direct response to the rapidly expanding manufacturing base and the growing demand for our products in that country," said FARO President & CEO Simon Raab. "Our immediate presence there means we can provide faster and more focused responses for our existing customers in Asia, as well as our much larger potential customer base in China."
Oscar Meza, Director of Sales: Asia-Pacific, will oversee the operations of the new division. "China's acceptance into the World Trade Organization was a driving force behind our moving into China," Meza said. "Already, we have more than 70 product installations in some of the largest automotive and aerospace joint venture companies operating in that country. We foresee continued manufacturing growth in China in our target sectors."
The new office in China is in addition to FARO's other six international sales centers around the world, which includes locations in Japan, the U.K., Spain, France, Italy, and its European headquarters in Stuttgart, Germany. FARO has approximately 7,000 installations with 3,000 customers, making it the worldwide portable CMM market leader. In fact, it is the only computer-aided manufacturing measurement (CAMM) company with a complete portable product line of hardware and software all designed, manufactured, sold and serviced directly by the same company.
About FARO
FARO Technologies, Inc. (NASDAQ: FARO) and its international subsidiaries design, develop, and market software and portable, computerized measurement devices. The Company's products allow manufacturers to perform three-dimensional inspections of parts and assemblies on the shop floor. This helps eliminate manufacturing errors, and thereby increases productivity and profitability for a variety of industries in FARO's worldwide customer base. Principal products include the FARO Gageä, Platinum and Titanium FaroArmsâ, Control Stationâ measurement system, the FARO Laser Trackerâ and a CAM2â family of advanced CAD-based measurement and reporting software. FARO Technologies is ISO 9001 certified and Guide 25 approved. Learn more at www.faro.com.
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts or that describe the Company's future plans, objectives, expectations, strategies, or goals are forward-looking statements. In addition, words such as "may," "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "will," "should," "could," and similar expressions are intended to identify forward- looking statements. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties or other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements. Factors that might cause such a difference include, but are not limited to:
- Inability for the Company to establish an office in China, and/or to recruit employees for Faro China because of SARS
- Inability of the Company to grow sales in China without the assistance of a local distributor.
- The other risks detailed in the Company's 10-K report and other filings from time to time with the Securities and Exchange Commission. Forward-looking statements in this release represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.