USTER Closes Acquisition Of EVS — Combined Technology Offers Potential For Further Automation And Improvement For Increased Performance

USTER, Switzerland — April 25, 2018 — Uster Technologies AG has announced the successful closing of the acquisition of Elbit Vision Systems Ltd. (EVS), a high-technology supplier for automated vision inspection in the textile industry. This expands Uster’s competencies in quality control and strengthens its product portfolio. EVS’s products are used to automatically locate, label and trace defects of fabric and web products, and ultimately to grade the quality and determine the value of the produced goods.

Thomas Nasiou, CEO, Uster, said: “I am delighted that we are now able to finalize this major milestone, which embodies the strengthening of Uster’s activities across the globe. The access to innovative technology and the enhanced presence will enable us to strengthening our offering to customers, and offer new, interesting perspectives to the colleagues of Uster and EVS. The acquisition fits perfectly into our vision to be the world’s leading supplier of quality solutions for the textile industry from fiber to fabric.”

Sam Cohen, CEO of EVS, commented: “I am proud of the progress we have made during the last few years in improving our products and services leading to increased customer satisfaction, expanding our footprint while delivering on our financial targets. Now, I am very much looking forward to continue working for EVS, now part of Uster, and combining our offering. I believe that we will demonstrate the potential to provide our customers with new, innovative products that can address unmet needs.

Posted April 25, 2018

Source:  Uster Technologies AG