AVT of Israel to Raise Large Amount on Neuer Markt at Month's End

At the end of the month, AVT of Israel is to raise tens of millions of dollars in a public placement on Frankfurt's Neuer Markt.

AVT (Advanced Vision Technology) of Hod Hasharon, was founded in 1992, and it develops and markets automatic print control systems using artificial vision technology. The systems are designed for identifying defects arising in printed materials in the course of the printing process, and its object is to save printing costs.

AVT has customers in Europe, North America, Australia and South America. Last year it posted 150% growth in revenue, which amounted to $8.8 million. The company has been profitable since the third quarter of 1999.

Investors in the company include: the Evergreen Fund (through IJT [Israel-Japan-Taiwan] and Periscope), which invested $2.5 million in 1998, the Holland-based Comsor fund, and the Star fund.

Published by Israel's Business Arena on 14 February, 20000