Coreco forms strategic partnership for smart cameras

SEPTEMBER 19--Coreco Inc. (Montreal, Canada; www.coreco.com) has signed a multiyear strategic agreement with Tokyo Electronic Industry Co. Ltd. (TELI), a subsidiary of Toshiba Corporation, to supply its smart-camera technology to TELI. Under this exclusive supply agreement, which relates to the smart vision appliances developed by Coreco's Intelligent Products Group, Coreco's products will be customized with TELI's sensor technology to meet TELI's specific market requirements.

"This agreement represents important strategic benefits for Coreco," commented Keith Reuben, president and CEO of Coreco Inc. "TELI's worldwide sales network opens up new markets and applications for our smart-camera products. In addition, the combination of TELI's sensor technology with our own smart vision expertise puts us in a strong position to meet growing demand for the latest technology at a competitive price."

Introduction of the combined product is scheduled to take place in December of this year in Japan. Marketing and sales will be carried out through TELI's global distribution network that includes more than 30 distributors in Japan, Europe, North America, and Asia.

Coreco and TELI will focus on easy-to-implement, cost-effective vision appliances for task-specific applications. In addition to the two appliances currently offered by Coreco--one to perform measurements (iGauge) and the other to inspect labels (iLabel)--the two partners will collaborate on the future development of new products and applications for the industrial-automation market.