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PORTLAND, OR, Sep 12, 2005 (MARKET WIRE via COMTEX News Network) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has
granted a license to Autoliv, Inc. (NYSE: ALV) for its automotive
infrared camera design and agreed to terms under which FLIR will
provide infrared sensors to be integrated into Autoliv's automotive
night vision camera. FLIR also announced that it has received a
blanket purchase order from Autoliv for the delivery of infrared
sensors. Quantities under the purchase order are dependant on
customer and market demand, and may result in the delivery of a
substantial quantity of sensors over the term of the agreement.
The automotive night vision camera system will use FLIR's 320 x 240
Vanadium Oxide uncooled infrared sensor featuring Autovox™
technology. It will be the first automotive night vision system based
on uncooled microbolometer technology. The agreement allows Autoliv
to begin manufacturing and shipping the infrared camera system to its
initial automotive customer, BMW, and provides for shipments to
additional auto manufacturers. BMW has publicly announced the
introduction of its "BMW Night Vision" system for its 7-Series line
beginning in the fourth quarter of 2005. BMW has also publicly
commented that additional models will feature the Night Vision system
in the near future.
"We are delighted to have finalized this agreement, which will
further strengthen our partnership with Autoliv, a world leader in the
automobile safety-component industry," commented Earl R. Lewis,
President and CEO of FLIR Systems. "We believe the automotive market
has great potential and believe that Autoliv and BMW are in the best
position to help develop and capture that market."
Forward-Looking Statements
This release contains forward-looking statements, including the
Company's expectations for the quantity and timing of deliveries of
its uncooled infrared sensors under the agreement and blanket
purchase order described above. These statements are based on
current expectations, estimates and projections about the Company's
business based, in part, on assumptions made by management. These
statements are not guarantees of future performance and involve risks
and uncertainties that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed or
forecasted in such forward-looking statements due to numerous
factors, including the following: the frequency of releases under the
blanket purchase order, the demand for automotive infrared camera
systems from customers of BMW and from automotive customers
generally, the continuing ability to penetrate new market
applications, including automotive applications, the Company's
continued compliance with US export control laws, the Company's
continuing eligibility to act as a government contractor, additional
competition, the Company's ability to win larger delivery contracts,
the impact of competitive products and pricing, constraints on
supplies of critical components, excess or shortage of production
capacity and other risks discussed from time to time in the Company's
Securities and Exchange Commission filings and reports, including the
Company's Annual Report on Form 10-K for the year ended December 31,
2004. In addition, such statements could be affected by general
industry and market conditions and growth rates, and general domestic
and international economic conditions. Such forward-looking
statements speak only as of the date on which they are made and the
company does not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this release.
About FLIR Systems
FLIR Systems, Inc. is a world leader in the design, manufacture and
marketing of thermal imaging and stabilized camera systems for a wide
variety of imaging and Thermography applications including
intelligence, surveillance, reconnaissance, navigation, border patrol,
industrial security, condition monitoring, research and development,
manufacturing process control, and building diagnostics. FLIR Systems
is headquartered in Portland, Oregon, with service and manufacturing
facilities worldwide. Visit the company's web site at www.FLIR.com.
SOURCE: FLIR Systems, Inc.
http://www.flir.com
Company Contact:
Tony Trunzo
(503) 498-3547
www.flir.com
