Virtek Vision International Inc.
TSX : VRK

Virtek Vision International Inc.

December 01, 2006 08:00 ET

Virtek to Save Approximately $750 Thousand Annually

Company streamlines engineering and customer service departments to help grow FOBA business in North America

WATERLOO, ONTARIO--(CCNMatthews - Dec. 1, 2006) - Virtek Vision International Inc. (TSX:VRK) ("Virtek" or the "Company"), a leading provider of high value industrial laser solutions, today announced that the Company has made changes to its North American engineering and customer service departments and as a result has reduced costs by approximately $750 thousand annually.

"With North American production of the FOBA G5 laser marking and engraving system now getting underway in Waterloo, we have reviewed our operations and adjusted the structure of engineering and customer service to better serve our customers and grow the FOBA business," noted Bob Sandness, president and CEO of Virtek. "We have reduced costs in part due to staff layoffs (3 1/2 percent of workforce) and in part because we have shifted some FOBA engineering to Waterloo from Boston. Our Boston facility will continue to focus on advanced research and development for the FOBA product in conjunction with our operations in Ludenscheid Germany. These changes are consistent with our ongoing strategy to control costs and build Virtek's Marking & Engraving manufacturing capacity in North America."

With these changes to engineering and customer support in North America there are now 191 full time employees working for Virtek worldwide.

About Virtek Vision International Inc.

Virtek Vision International Inc. is a leading provider of precision laser-based templating, inspection, marking and engraving products and systems integration solutions. Virtek serves customers in the prefabricated construction, transportation, metalworking, tool and die and mold making industries worldwide. The Company's solutions enable customers to produce their products faster, better and at a lower cost. The majority of Virtek's sales are in the United States and Europe. Virtek maintains offices in Waterloo, Ontario, Canada; Boston, Massachusetts, USA; Ludenscheid and Nurnberg, Germany and Ebina City, Kanagawa, Japan. Please visit www.virtek.ca for more information.

Contact Information

  • Virtek Vision International Inc.
    Peter Monsberger
    VP Finance and CFO
    (519) 746-7190
    (519) 746-3383 (FAX)
    Email: peter.monsberger@virtek.ca
    or
    Virtek Vision International Inc.
    Bob Sandness
    President and CEO
    (519) 746-7190
    (519) 746-3383 (FAX)
    Email: bob.sandness@virtek.ca
    Website: www.virtek.ca
    or
    Investor Relations Contact:
    Genoa Management Limited
    John Sadler
    1-866-430-6247
    Email: info@genoa.ca