Productivity Technologies Wins Mexico Order, Backlog at Record High Level

Apr 02, 2001, 01:00 ET from Productivity Technologies Corp.

    ANN ARBOR, Mich., April 2 /PRNewswire/ -- Productivity Technologies Corp.
 (Nasdaq: PRAC), announced today that Atlas Technologies, Inc., one of its
 operating subsidiaries, has been awarded an order, among other orders, of
 approximately $900,000 to provide Die Change equipment to a major Mexico
 based automotive supplier.  Including backlog from both operating
 subsidiaries, PTC backlog approximates $21.9 million, a new company record.
     According to Samuel N. Seidman, PTC Chairman, "Atlas' business level has
 been depressed and operating losses have resulted during recent periods, but
 the rapid pace of new orders is encouraging.  Atlas' backlog is now at its
 highest point since being acquired by PTC in 1996 based on recent orders from
 South America, Mexico, and Asia, and a large domestic contract from a Big
 Three automotive manufacturer.  Record high orders during the third fiscal
 quarter, including a $3 million letter of intent to order from a Brazilian
 auto supplier, account for approximately $16 million of the current Atlas
 backlog approximating $21.5 million.  Atlas inquiry and quotation activity is
 also at a high level of $156 million, partially due to additional sales
 representatives and distributors."
     "Thankfully, this increase in backlog was accompanied by reasonably long
 delivery schedules, allowing Atlas to ramp up to the demand during the next
 few quarters.  Although still in an uncertain market, we hope we will continue
 to see strong orders in the near term, in part due to Atlas' development of
 critical relationships with key companies located around the world.  These
 allegiances will assist in broadening Atlas' market reach and improving its
 ability to provide complete solutions for its customers, especially with
 larger turnkey projects," according to James A. Kolinski, Atlas CEO.
     Headquartered in Fenton, Michigan, Atlas makes automated stamping press
 systems, equipment, and tooling for automotive, appliance, and other
 manufacturers.  Productivity Technologies Corp. is an Ann Arbor, Michigan
 based investment holding company involved in the factory automation equipment
 industry.  Its operating subsidiaries are Atlas Technologies and Westland
 Control Systems, a control panel supplier to machinery and equipment
 manufacturers.
     Cautionary Statement Under the Private Securities Litigation Reform Act of
 1995: Statements of this Press Release may constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform
 Act of 1995 that are based on the beliefs of the company and its management.
 Any statements contained herein which are not historical facts or which
 contain the words expect, believe, project, estimate, seek, anticipate,
 could, may, and similar statements shall be deemed forward-looking
 statements.  The Company may be unable to realize its plans and objectives due
 to various important factors.  These factors include but are not limited to
 the potential softening of the domestic and foreign markets for automobiles,
 automotive parts, and appliances, resulting in reduced demand for the
 Company's automation equipment; potential technological developments in the
 metal forming and handling automation equipment markets which could render
 the Company's automation equipment noncompetitive or obsolete; and the
 potential tightening of credit availability generally or under the Company's
 credit facility, which may render the Company unable to access needed working
 capital.
 
 

SOURCE Productivity Technologies Corp.
    ANN ARBOR, Mich., April 2 /PRNewswire/ -- Productivity Technologies Corp.
 (Nasdaq: PRAC), announced today that Atlas Technologies, Inc., one of its
 operating subsidiaries, has been awarded an order, among other orders, of
 approximately $900,000 to provide Die Change equipment to a major Mexico
 based automotive supplier.  Including backlog from both operating
 subsidiaries, PTC backlog approximates $21.9 million, a new company record.
     According to Samuel N. Seidman, PTC Chairman, "Atlas' business level has
 been depressed and operating losses have resulted during recent periods, but
 the rapid pace of new orders is encouraging.  Atlas' backlog is now at its
 highest point since being acquired by PTC in 1996 based on recent orders from
 South America, Mexico, and Asia, and a large domestic contract from a Big
 Three automotive manufacturer.  Record high orders during the third fiscal
 quarter, including a $3 million letter of intent to order from a Brazilian
 auto supplier, account for approximately $16 million of the current Atlas
 backlog approximating $21.5 million.  Atlas inquiry and quotation activity is
 also at a high level of $156 million, partially due to additional sales
 representatives and distributors."
     "Thankfully, this increase in backlog was accompanied by reasonably long
 delivery schedules, allowing Atlas to ramp up to the demand during the next
 few quarters.  Although still in an uncertain market, we hope we will continue
 to see strong orders in the near term, in part due to Atlas' development of
 critical relationships with key companies located around the world.  These
 allegiances will assist in broadening Atlas' market reach and improving its
 ability to provide complete solutions for its customers, especially with
 larger turnkey projects," according to James A. Kolinski, Atlas CEO.
     Headquartered in Fenton, Michigan, Atlas makes automated stamping press
 systems, equipment, and tooling for automotive, appliance, and other
 manufacturers.  Productivity Technologies Corp. is an Ann Arbor, Michigan
 based investment holding company involved in the factory automation equipment
 industry.  Its operating subsidiaries are Atlas Technologies and Westland
 Control Systems, a control panel supplier to machinery and equipment
 manufacturers.
     Cautionary Statement Under the Private Securities Litigation Reform Act of
 1995: Statements of this Press Release may constitute "forward-looking
 statements" within the meaning of the Private Securities Litigation Reform
 Act of 1995 that are based on the beliefs of the company and its management.
 Any statements contained herein which are not historical facts or which
 contain the words expect, believe, project, estimate, seek, anticipate,
 could, may, and similar statements shall be deemed forward-looking
 statements.  The Company may be unable to realize its plans and objectives due
 to various important factors.  These factors include but are not limited to
 the potential softening of the domestic and foreign markets for automobiles,
 automotive parts, and appliances, resulting in reduced demand for the
 Company's automation equipment; potential technological developments in the
 metal forming and handling automation equipment markets which could render
 the Company's automation equipment noncompetitive or obsolete; and the
 potential tightening of credit availability generally or under the Company's
 credit facility, which may render the Company unable to access needed working
 capital.
 
 SOURCE  Productivity Technologies Corp.