NATICK, MA, USA August 28, 2008
Largest Automation Supplier in Japan Chooses Cognex As Its Vision Partner
NATICK, MA, August 28, 2008--Cognex Corporation (NASDAQ: CGNX) announced today that it has signed an agreement with Mitsubishi Electric Corporation to jointly develop and market Cognex vision products to Mitsubishi’s customers around the world. Mitsubishi Electric, based in Tokyo, Japan, is a leading worldwide provider of factory automation products (e.g. programmable controllers, motion controls and industrial robots), and is the largest supplier of those products in Japan and throughout Asia.
Cognex will work with Mitsubishi to develop specially-configured versions of Cognex In-Sight® vision systems that will be designed to integrate seamlessly with Mitsubishi’s factory automation products. In addition to collaborating on product development, the two companies will also jointly promote their integrated solutions at events such as tradeshows and seminars. As a result of this collaboration, Mitsubishi’s factory automation customers will be able to purchase Cognex vision systems and quickly deploy them in their manufacturing operations. Cognex expects that this partnership will significantly accelerate the sale of its vision systems, first in Japan and eventually in the fast-growing markets throughout Asia.
“Cognex machine vision systems are already being used together with Mitsubishi factory automation products to help guide robots, to direct motion control systems and to automate a wide range of manufacturing processes,” said Dr. Robert J. Shillman, Chairman and Chief Executive Officer of Cognex. “This new partnership, which will result in dramatically improved connectivity between our respective products, is expected to increase the sale of both Cognex vision systems and Mitsubishi’s factory automation products against our common competitors.”
“Mitsubishi Electric is one of the world’s most highly respected factory automation companies, and is the largest provider of factory automation products in Japan and Asia. We are proud to be selected as their vision partner,” said Eric Ceyrolle, Executive Vice President of Worldwide Sales and Marketing for Cognex. “The power of Cognex vision will make it easier and faster than ever for Mitsubishi’s customers to improve the overall performance of their manufacturing processes.”
With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 4,049.8 billion yen (US $40.5 billion) in the fiscal year ended March 31, 2008.
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