- June 13, 2002, PRESS RELEASE
HOD-HASHARON, ISRAEL—Advanced Vision Technology (AVT) reports it has acquired Geiger Vision Systems (GVS) GmbH. GVS specializes in automatic print defect detection equipment for the label printing industry, and according to AVT, the parties agreed not to disclose the purchase price to be paid fully in cash.
"Established in 1992, GVS develops comprehensive quality solutions for the label printing market," says AVT. "As a result, even the smallest printed characters can be checked on a variety of substrates at high speeds. GVS solutions are used worldwide for label and bar code inspection, and [it] has a particularly strong presence in the pharmaceutical package printing sector. In addition, the company has developed optical character recognition (OCR) systems used by banks, insurance companies, and the public sector," adds the mfr.
According to AVT, to complete the acquistion, the co. will establish a subsidiary in Germany, into which all GVS activities will be incorporated. Headed by GVS's founder/managing director, Axel Geiger, AVT Germany will focus on research and development. The purchase is expected to be completed during Q3 this year.
Visit AVT at avt-inc.