Now Reading
Elbit Vision Systems Ltd. -- ''EVS'' -- Announces Appointment of New Independent Directors to the Board of Directors
Elbit Vision Systems Ltd. -- ''EVS'' -- Announces Appointment of New Independent Directors to the Board of Directors
Published 09-25-02
Submitted by Elbit Vision Systems Ltd.
YOQNEAM, Israel - Elbit Vision Systems Ltd. (Nasdaq:EVSN) announced today the appointment of new independent directors to its Board of Directors.
At the annual meeting of the Company's shareholders on September 23, 2002, Mr. Meir Amit and Prof. Tsvi Piran were elected as independent directors of the Company.
The Company's board of directors will appoint Mr. Amit and Mr. Piran to its audit committee at its forthcoming meeting next week.
Mr. Nir Alon, the Chairman of the Board of EVS, commented: "I believe that the appointment of our new directors further indicates the seriousness of the Company's commitment to its shareholders; Major-General (Res) Meir Amit who served has the Head of the Mossad Israel's intelligence Agency has a long and successful history in the Israeli economy, having served as the CEO of Koor Industries, one of Israel's largest investment holding companies, and as the Israeli Minister of Transportation and Communication, and Tsvi Piran is a Professor of Physics at the Hebrew University in Jerusalem, and a member of the Steering Committee for the Israel Space Agency. We are delighted that they agreed to serve on the Company's board, and had no doubt that our shareholders would elect them overwhelmingly. The Company is looking forward to moving ahead with its business."
Elbit Vision Systems Limited designs, develops, manufactures, markets and supports automatic optical inspection and quality monitoring systems for the textile and the non-woven industries. The Company's systems, marketed under the brand I-TEX(TM) and PRINTEX(TM), are designed to increase the accuracy, consistency and speed of detecting and identifying defects in the manufacturing process in order to improve product quality and increase production efficiency. EVS is headquartered in Yoqneam, Israel, with sales and technical service offices worldwide.
Forward looking statements in this release with respect to the Company's business, financial condition and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development, the effect of the Company's accounting policies as well as certain other risk factors which are detailed from time to time in the Company's SEC filings.
