Valor Computerized Systems (Yavne, Israel), a provider of software solutions for the electronics design and manufacturing industry, announced that the agreement with Denmark-based TraceXpert A/S, a provider of real-time production monitoring, machine-control and traceability solutions, has now been executed.

The completion of all legal and financial aspects of the agreement, first announced in December 2003, signals that Valor-Denmark is now fully open for business: to deliver the TraceXpert Manufacturing Execution System (MES) to the global electronics industry. The TraceXpert product delivers productivity-maximization, exact traceability and shop-floor parts-management solution. It includes real-time data-rich interfaces to surface-mount assembly lines from machine vendors such as Siemens, Universal and Fuji, and a major expansion program is to be implemented immediately, to substantially increase the machine-types coverage offered to the market.

Valor-Denmark A/S is a joint venture company, 50% owned by Valor and 50% owned by the shareholders of the predecessor-company, TraceXpert A/S. All intellectual property, management and employees of TraceXpert A/S will be transferred into Valor-Denmark, and Valor Ltd., Israel, will make a $4 million investment into the newly formed business in order to facilitate an immediate ramp-up in the rate of development of the TraceXpert solution. After 3 years of operations, Valor Ltd., Israel, will have first option to purchase all shares in Valor-Denmark.

www.valor.com

Copyright 2004, UP Media Group. All rights reserved.

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