Previous company name
Name change date
The company, which is based in Canada, is engaged in the design and production of image processing hardware and software for outside equipment manufacturers. It was incorporated in the year 2005 and has its registered business address located in Saint-Laurent, Quebec.
Some of the company’s products are image sensor components; electronic digital cameras; vision processors; image processing software; and semiconductor wafer foundry services for use in high-voltage semiconductors, image sensors and mixed-signal chips. Through the operation of one subsidiary, the company is also active in the United States.
The company develops, manufactures, markets and sells computer vision products.
Description and history
Coreco Inc. incorporated under the Canada Business Corporations Act, develops, manufacturers, markets and sells computer vision products.
Coreco Imaging leads the North American market in the design and development of innovative vision products. Established in 1979, this technology-based company provides hardware and software solutions to a growing number of developers and original equipment manufacturers (OEMs) worldwide. Coreco Imaging’s overwhelming success can largely be attributed to its commitment to research and development along with its ability to deliver technologically advanced solutions. The company’s design expertise extends to a variety of application areas covering the industrial market segments.
The company was formed on March 29,1979 and was listed on the Toronto Stock Exchange on June 7,1996.
Acquisition of Coreco Completed
Montreal, Quebec, April 26, 2005 . Coreco Inc. today announced that DALSA
Corporation has successfully acquired all of its issued and outstanding securities
pursuant to the previously announced Plan of Arrangement.
Coreco shareholders will receive for each common share of Coreco, at their election
either: (a) 0.5207 of a DALSA common share; (b) $10.00 in cash; or (c) a combination
of cash and DALSA common shares, subject to a maximum of $35 million in cash
available for election. Upon closing DALSA issued approximately 1.9 million DALSA
common shares and paid $35 million in cash for 100% of the Coreco common shares.
Due to pro-ration, shareholders who elected to receive cash will receive a cash
payment of approximately $7.44 cash per share and 0.13 of a DALSA common share
for each Coreco common share. Shareholders who did not elect cash or elected share
consideration will receive 0.5207 of a DALSA common share for each Coreco common
share. The total consideration paid by DALSA was approximately $73.4 million,
comprised of $35 million in cash and the issue by DALSA of an aggregate of
approximately 1.9 million DALSA common shares.
Coreco Inc. is a leader in the design, development, manufacturing and marketing of hardware
and software that help enhance the productivity, quality and cost-competitiveness of manufacturing processes. The Company serves two target markets: Original Equipment
Manufacturers (OEMs) and End-users. The OEM group provides a full range of frame grabbers,
embedded products and accompanying software for integration in high-performance machine
vision applications in the industrial vision, medical imaging, multimedia and surveillance
markets. The Intelligent Products group (IPD) specializes in providing user-friendly, cost-effective vision appliances for task-specific factory floor applications, such as gauging, high-precision alignment, inspection, assembly verification and machine guidance. Coreco employs a staff of 140 people and has operations in Montreal (QC), Vancouver (BC), and Boston (MA), with
additional sales offices in Cleveland (OH), San Juan Capistrano (CA) and Tokyo (Japan).
For further information, please contact:
Keith A. Reuben
President and Chief Executive Officer
Tel.: (514) 333-1301
Fax: (514) 333-1867
Investor and Media Relations
Tel.: (514) 940-3717
Engaged in the design and production of image processing hardware and software for outside equipment manufacturers
DELOITTE & TOUCHE LLP
US SIC Code
7075, Place Robert-Joncas
City province or state postal code
H4M 2Z2, SAINT-LAURENT, QC
Phone: +1 514 333 1301
Fax: +1 514 333 1388
Country address: CANADA
Website url: www.coreco.com