FARO Technologies Opens New Exton, Pennsylvania Site to Expand and Modernize Manufacturing Process
LAKE MARY, Florida, March 3, 2015 /PRNewswire/ -- FARO Technologies, Inc. (NASDAQ: FARO) announces the opening of its new state of the art manufacturing and technology center at 290 National Road, Exton, Pennsylvania. The newly constructed 90,000 square foot facility was designed to support FARO's continued growth plans.
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The new facility modernizes FARO's Laser Tracker manufacturing process in addition to expanding the manufacturing capacity for both the Laser Tracker and Imager product lines. The new facility also expands the customer service capabilities along with an updated physical layout for leaner operations and improved delivery. Additional improvements include expanded research and development space and upgraded optical metrology research laboratories.
Jay Freeland, President and CEO, FARO Technologies, Inc. said, "We are excited to relocate our Pennsylvania operations to a larger, and more technologically advanced facility. The capabilities and capacity of the new facility will allow us to continue to enhance our product offerings and ensure that we meet the long term needs of our customers."
FARO's attraction to Exton was due to the proximity of the site to its existing facility in Kennett Square, PA and the strong skilled workforce in the area. Exton is located in Chester County, which is known as a "High-Tech Corridor" due to the number of large national and international companies that reside in the area.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about demand for and customer acceptance of FARO's products, and FARO's product development and product launches. Statements that are not historical facts or that describe the Company's plans, objectives, projections, expectations, assumptions, strategies, or goals are forward-looking statements. In addition, words such as "is," "will," "continue," "ensure" and similar expressions or discussions of FARO's plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results, performances, or achievements to differ materially from future results, performances, or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements.
Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to:
- development by others of new or improved products, processes or technologies that make the Company's products less competitive or obsolete;
- the Company's inability to maintain its technological advantage by developing new products and enhancing its existing products;
- declines or other adverse changes, or lack of improvement, in industries that the Company serves or the domestic and international economies in the regions of the world where the Company operates and other general economic, business, and financial conditions; and
- other risks detailed in Part I, Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 and Part II, Item 1A. Risk Factors in the Company's Quarterly Report on Form 10-Q for the quarter ended June 28, 2014.
Forward-looking statements in this release represent the Company's judgment as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law.
About FARO
FARO is the world's most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes.
Approximately 15,000 customers are operating more than 30,000 installations of FARO's systems, worldwide. The Company's global headquarters is located in Lake Mary, FL; its European regional headquarters in Stuttgart, Germany; and its Asia/Pacific regional headquarters in Singapore. FARO has other offices in the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain, Italy, Poland, Turkey, the Netherlands, Switzerland, Portugal, India, China, Malaysia, Vietnam, Thailand, South Korea, and Japan.
More information is available at http://www.faro.com
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