WATERLOO, ON, Aug. 29 /CNW/ - Virtek Vision International Inc. (TSX:VRK)
("Virtek" or the "Company"), a leading provider of high value industrial laser
solutions, today announced that the offer to purchase Virtek by StockerYale
Waterloo Acquisition, Inc., a wholly owned subsidiary of StockerYale, Inc.,
expired at 11:59 p.m. on August 25, 2008. The minimum tender condition of 66
2/3% of the shares was not realized and StockerYale has said that any shares
tendered will be returned to Virtek shareholders.
Virtek previously announced that its Board of Directors unanimously
rejected as inadequate the unsolicited StockerYale bid.
About Virtek Vision International Inc.
Virtek Vision International Inc. is a leading provider of high value
industrial laser solutions focused on the needs of the global manufacturing
sector, providing templating, inspection, marking and engraving products.
Virtek serves customers in the prefabricated construction, transportation,
metalworking, tool and die and mold making industries worldwide. Virtek is a
full service provider, with services including manufacturing, development,
integration, training, after sales support and installation. The Company
delivers high value to its customers, including feature-rich systems with a
quick payback, productivity enhancements and total turnkey solutions. The
majority of Virtek's sales are in the United States and Europe. Virtek
maintains offices in Waterloo, Ontario, Canada; Boston, Massachusetts, United
States; Ludenscheid and Nurnberg, Germany; and Busto Arsizio, Italy. Please
visit www.virtek.ca for more information.
Except for historical information provided herein, this news release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of
future events. Such factors may include, without excluding other
considerations, fluctuations in quarterly results, evolution in customer
demand for the Company's products and services, the impact of price pressures
exerted by competitors, and general market trends or economic changes. As a
result, readers are advised that actual results may differ from expected
For further information:
For further information: about Virtek Vision International Inc. please
visit www.virtek.ca or contact: Peter Monsberger, VP Finance and CFO, Tel:
(519) 746-7190, Fax: (519) 746-3383, e-mail: firstname.lastname@example.org;
Stephen J. Sorocky, President and CEO, Tel. (519) 746-7190, Fax. (519)
746-3383, e-mail: email@example.com; Jo Mira Clodman, Clodman Hecht
Communications Inc., (416) 787-3773, e-mail: firstname.lastname@example.org;
Kingsdale Shareholder Services Inc., 1-866-581-1571, email: