Update engineering and trading operations for the backend business
Moves image capture technology to a high-tech campus in Eindhoven, The Netherlands
MT. Laurel, New Jersey, February 15, 2022— (BUSINESS WIRE) – inTEST Corporation (NYSE American: INTT), a global provider of innovative test and process solutions for use in manufacturing and testing in a wide range of markets, including automotive, defense / aerospace, industry and life sciences, Security and Semiconductors, today announced the opening of a new office in Fremont, California to better serve customers through simplified operations and reduced operating costs for its backend semi-business.
“During 2021, we combined production for our backend technology at our plant in Mount Laurel, New Jersey, to improve operating costs and centralize operations. However, we in California had key talents in engineering and sales. Maintaining their ability to maintain the high level of service our customers have experienced, we have moved this team to a modernized office environment next to our previous manufacturing facility. products, demonstrate product prototypes to local customers, build new relationships with customers and gain access to key suppliers, ”commented Nick Grant, President and CEO of inTEST.
“We have also upgraded facilities for our newly acquired digital streaming and imaging business in the Netherlands and relocated our design, sales and production facilities to a high-tech campus in Eindhoven. We expect this move to provide higher efficiencies, enable greater visibility with international companies that transfer technology to stimulate our presence in the industrial imaging market and also allow us to benefit from advances in artificial intelligence, ”Grant added.
The High Technology Campus is the epicenter of technical innovation in the Netherlands and the home of the AI Innovation Center, where technology companies, platform and service providers, and research and educational institutes come together to collaborate and create.
About inTEST Corporation
InTEST Corporation is a global provider of innovative test and process solutions for use in manufacturing and testing in a wide range of markets, including automotive, defense and aerospace, industrial, life sciences, safety and semiconductors. Drawing on decades of engineering experience and a culture of operational excellence, inTEST solves complex thermal, mechanical and electronic problems for customers around the world, creating strong cash flow and profits. The inTEST strategy uses these strengths for organic growth and through acquisitions through the addition of innovative technologies, deeper and wider geographic coverage and market expansion. For more information, visit www.intest.com.
Statements about the future
This press release includes forward-looking statements within the meaning of the Private Securities Judicial Reform Act of 1995, as amended. These statements do not convey historical information, but relate to projected or potential future events and financial results, such as statements about our plans, strategies and intentions or our future performance or goals that are based on current management expectations. Our forward-looking statements can often be identified by using forward-looking terminology such as “believe”, “expect”, “intend”, “may”, “will”, “should”, “plans”, “projects,” forecasts “,” forecasts “, perspectives “,” predicted “,” objectives “,” assessments “or similar terminology. These statements are subject to risks and uncertainties that could cause material differences to differ from those expressed or implied in such statements.
Such risks and uncertainties include, but are not limited to, any mentioned in this press release, as well as our ability to realize the potential benefits of the acquisitions and successfully integrate their operations with ours; our ability to increase our presence in the life sciences, security, industrial and international markets; the success of our strategy to diversify our business by entering markets outside the half-market; the impact of the COVID-19 pandemic on our business, liquidity, financial condition and performance; signs of changing market cycles in the half-market or other markets we serve; changes in business conditions and general economic conditions both within the country and in the world; changes in demand for semiconductors; our ability to raise funds or raise capital to finance potential acquisitions; changing the rates and timing of our clients’ capital expenditures; and other risk factors that are set out from time to time in our Securities and Exchange Commission documents, including, but not limited to, our 10-K Annual Report for the year ended December 31, 2020. this press release is based only on the information available to us at present, and describes the circumstances only as of the date when it was made. We undertake no obligation to update the information in this press release to reflect events or circumstances after that date or to reflect the occurrence of expected or unforeseen events.
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