PRESS RELEASE: DALSA Secures Funding Towards Developing New Technology
WATERLOO, ONTARIO--(Marketwire - June 29, 2010) - DALSA Corporation (TSX:DSA), an international leader in high performance digital imaging and semiconductors, today announced an agreement with the Province of Ontario to invest in product innovations and related job creation at DALSA's Waterloo facility.
Under the agreement, the Ontario government will contribute a maximum grant of up to $24.3 million to support DALSA's new research and development (R&D) efforts in digital imaging technology. The grant is to be paid over a period of five years, and is subject to customary conditions.
"We're pleased to announce this investment in a long-term growth strategy to advance our R&D activities here in Waterloo," said Brian Doody, DALSA CEO. "The provincial government has demonstrated its commitment to technology leadership and long term prosperity."
About DALSA Corporation
DALSA is an international leader in high performance digital imaging and semiconductors with approximately 1000 employees world-wide. Established in 1980, the Company designs, develops, manufactures, and markets digital imaging products and solutions, in addition to providing semiconductor products and services. DALSA's core competencies are in specialized integrated circuit and electronics technology, software, and highly engineered semiconductor wafer processing. Products and services include image sensor components (CCD and CMOS); electronic digital cameras; vision processors; image processing software; and semiconductor wafer foundry services for use in MEMS, high-voltage semiconductors, image sensors and mixed-signal CMOS chips. DALSA is listed on the Toronto Stock Exchange under the symbol "DSA" and has its corporate offices in Waterloo, Ontario, Canada.
Some of the statements in this press release that depend upon or refer to future events or conditions are forward-looking statements within the meaning of securities law. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements are detailed from time to time in DALSA's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. Investors should read review the Business Risks and Prospects sections of the DALSA 2009 annual Management's Discussion and Analysis to understand the assumptions, risks and uncertainties inherent in forward looking information or statements. DALSA has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
(First posted on Wednesday, June 30, 2010 at 14:26 EDT)