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Eurocontrol Provides Update on XwinSys Subsidiary Advancements
TORONTO, ONTARIO--(Marketwired - June 26, 2014) -
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Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification and certification technologies, is pleased to announce that its wholly owned subsidiary XwinSys Ltd., is reporting significant progress in its ability to perform bumps inspection and verification for the semiconductor manufacturing process. XwinSys manufactures and markets innovative solutions based on a synergistic combination of Energy-Dispersive X-Ray Fluorescence (EDXRF) and automated 3D image processing technologies for the semiconductor and related microelectronics industries.
XwinSys has had meetings with leading semiconductor manufacturers and capital equipment suppliers and has received enthusiastic interest in its innovative solution which is unmatched by any other company. XwinSys is currently performing evaluations for some of these leading companies and initial results have verified the viability of the solution. These evaluations are so far based on the limited performance of the prototype system and will be continued to a fully configured evaluation system during 2014-2015.
XwinSys was recently visited by senior managers from a leading semiconductor manufacturer in Japan. After reviewing the applications presented to them, they nominated a technical evaluator to investigate the possibility of purchasing a system during 2015. XwinSys has presented a roadmap to the manufacturer that is in line with their evolving needs and is also aligned to the general industry roadmap following an updated review of the market trends.
XwinSys also strengthened its activity with a leading manufacturer in Korea. XwinSys management visited the manufacturer's facility in Korea following their request to discuss the first successful round of technology evaluation that was performed on the XwinSys demo system in Israel.
The current estimated size of the 3D interconnect inspection market is $300 million per year. This precludes the new requirement for inspection of the emerging 3D IC structures and this emerging inspection and metrology market size is estimated to exceed $500 million per year. XwinSys' goal is to capture 10% of this market with its initial product offering designated XWS100. The Company's IP is generic in nature and can be subsequently leveraged for other applications which would significantly increase the available market size.
The XwinSys solution is a new inspection approach for evolving test and metrology requirements of the industry and will first serve the semiconductor and microelectronics markets with additional verification applications currently being assessed by XwinSys.
Doron Reinis, CEO of XwinSys commented, "During the last year of development XwinSys succeeded in launching a fully operational evaluation system demonstrating superior performance for customer's advanced requirements. The cooperation with two of the major semiconductor manufacturers in the world will contribute to our ability to supply a system that suites the evolving manufacturing process of the industry."
"Eurocontrol is pleased to report that this engineering combination of EDXRF and 3D image processing has merged on time and on budget from our team at XwinSys," stated Bruce Rowlands, Chairman and CEO of Eurocontrol.
About Eurocontrol Technics Group Inc.
Eurocontrol through its three wholly owned subsidiaries, Global Fluids International S.A. ("GFI"), Xenemetrix Inc. ("Xenemetrix") and XwinSys Ltd. ("XwinSys"), is a leading provider and innovator of detection and marking systems worldwide. GFI and Xenemetrix are global pioneers in developing and implementing innovative molecular marking systems for the oil industry and XwinSys is currently a development stage company. GFI's unique and proprietary liquid authentication system, Petromark™, is the world's leading solution for fully integrated oil marking, mixing and detection. Xenemetrix is a leading designer, manufacturer and marketer of energy-dispersive x-ray fluorescence ("EDXRF") systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. XwinSys is developing technology and intellectual property that will combine 2D and 3D image processing technology from Brossh Inspection Systems Ltd. of Israel with Xenemetrix's EDXRF technology for application in the semi-conductor manufacturing process.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains forward-looking statements. More particularly, this press release contains statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by Eurocontrol. Although Eurocontrol believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Eurocontrol can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in Eurocontrol's management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2013 and the first quarter ended March 31, 2014 which are available on the Corporation's profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Eurocontrol undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.