EVS Wins Orders of About $1 Million in China

CAESAREA, Israel, Sept. 12, 2016 -- Elbit Vision Systems Ltd. (OTCBB:EVSNF), a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced today that it has received orders totaling about $1 million from China.  

These orders are a cumulative total from multiple Chinese manufacturers. The first was from a new customer for seven (7) nonwoven inspection systems in which EVS won in a highly competitive bid. There is also a potential for additional orders at a later stage with this customer. 

The other was a significant order for IQ-TEX4 automatic inspection systems in conjunction with Shade Variation Analyzers. This was a repeat order from an important customer, who made their initial investment last year.  After seeing the benefits of automatic vision technology, they have made the decision to expand their automation by using EVS’ products.

Sam Cohen, CEO of EVS, commented, “These orders represent real success in our strategy to further penetrate the important textile manufacturing market of China.  We are pleased with both of these orders for different reasons. Our nonwoven inspection system win demonstrates the technical leadership of our systems in how we are able to meet our customers' demands and exceed our competition’s abilities while developing a new partnership with potential for follow-on orders. Our second order is a solid demonstration of how the initial sales of systems do indeed lead to a long-term relationship and ongoing repeat business.”

About Elbit Vision Systems Ltd. (EVS): www.evs.co.il

EVS offers a broad portfolio of automatic State-of-the-Art Visual Inspection Systems for both in-line and off-line applications, and process monitoring systems used to improve product quality, safety, and increase production efficiency.  EVS' systems are used by over 800 customers, many of which are leading global companies.

This press release and other releases are available on www.evs.co.il

Safe Harbor Statement

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.  EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

Company Contact Information:
Yaron Menashe, CFO
Tel: +972 4 6107609   
[email protected]  

Investor Relations Contact:
Ehud Helft
Tel: +1 646 201 9246
[email protected]