Wizcom Signs Up Additional Subcontractor
Rosh Ha’ayin, Wizcom Technologies Ltd. (“Wizcom”) (Prime Standard: WZM, IL 0010830706) announces today that the Company has signed up Partner Manufacturing Ltd. (“PM”) as additional subcontractor for the manufacture of its products. Shipping is expected to commence from February 2011. Through the addition of a second supplier and assembler, total output capacity for Wizcom products is expected to double as of February 2011, with further increases as both relationships mature.
Shimon Amouyal, CEO for Wizcom, stated, “The signing up of PM is the logical next step in our strategy to reduce risks, increase production capacity, add production capabilities, reduce costs and improve our competitive position. With the CAM Group and PM we now have two highly rated subcontractors and we feel confident that we have hedged ourselves against supply issues as we have had in the past. At the same time, we have added important operational capabilities that will help us to catch up with the existing backlog and to improve our cash flow.”
About Partner Manufacturing Ltd.:
PM was founded in 1999 by former employees of Tadiran Ltd. The Company provides a wide array of outsourcing solutions to the electronics industry, including materials procurement, assembly & testing of products for telecommunications, medical equipment and other electronics sectors. The Company owns an advanced manufacturing infrastructure suitable for high spec manufacturing, assembly and testing of electronics products. The Company is headquartered in Petach-Tikva.
About Wizcom Group:
Wizcom Technologies Ltd. is the world’s leading producer of personal, portable scanning pens that help people read and process text. These pocket-sized, user-friendly devices enable people to understand and use printed material, anytime and anywhere, without disrupting their reading process. Our pens help students of English as a first or second language, as well as people working in multilingual environments, enhancing their fluency and expediting reading comprehension.
Wizcom Technologies Inc, Boston, US-based entity, responsible for Wizcom Group operations in the Americas.
Ligature Ltd. is a world leader developer of Optical Character Recognition (OCR) technologies and applications. The company offers innovative approach to OCR based solutions for specialized markets partnering with OEMs, VARs and system integrators incorporating CharacterEyes into software applications and hardware products.
Galil Microwaves Israel (2003) Ltd. is a third party manufacturer and assembler of electronic modules for microelectronic and microwave components.
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