HERZELIYA, Israel--(BUSINESS WIRE)--Dec. 4, 2001--The Board of Directors of Tecnomatix Technologies, Ltd. (NASDAQ-TCNO), a leading provider of Manufacturing Process Management software solutions, today announced the appointment of Harel Beit-On as Chairman of the Board of Directors.
This appointment complements Beit-On's present position as the Company's President and Chief Executive Officer. Shlomo Dovrat, outgoing Tecnomatix Chairman of the Board, will continue to serve the company as Vice Chairman of the Board.
Shlomo Dovrat commented, "This appointment demonstrates the Board's confidence in the leadership of Harel. Over the years, Harel has steered Tecnomatix to its present leadership position. Under his management, we have every confidence that Tecnomatix will move successfully into its next stage of growth. While I will continue to assist the Company in any way I can, I am extremely pleased to hand over the chairmanship to Harel."
"I am pleased and honored with the trust placed in me by the Board of Directors," said Harel Beit-On. "As Chairman and CEO, I will continue to focus on building an industry leader in the field of manufacturing process management. I will concentrate on the strategic development of the Company while further strengthening our management team. Together, we will endeavor to accelerate revenue growth, profitability and deliver superior returns to our shareholders. I am thankful to all the capable and dedicated people of Tecnomatix that make this possible."
About Tecnomatix Technologies, Ltd.
Tecnomatix Technologies, Ltd. (NASDAQ: TCNO - news) is the world's leading provider of Manufacturing Process Management software for the electronics, automotive, aerospace and heavy equipment industries. The company's eMPower(TM) software enables global manufacturing companies to build the best production strategies to succeed in their increasingly complex environments. Tecnomatix applications run on an open platform providing a collaborative environment for authoring, simulating and managing manufacturing processes across the extended enterprise and its suppliers. The company, founded in 1983, has offices and distributors in North America, Europe, the Pacific Rim and Latin America. Additional information about the company can be found at www.tecnomatix.com.
Certain statements made herein that use the words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the Company to be materially different from those which may be expressed or implied by such statements, including, among others, changes in general economic, political and business conditions and specifically, changes in the level of activity in the manufacturing industry, decline in demand to the Company's products, inability to timely develop and introduce new technologies, products and applications and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission.
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Company Contact: Tecnomatix Technologies, Ltd. Oren Steinberg, +972-9-9594777 Email Contact or Investor Contact: Lippert/Heilshorn & Assoc. Jody Burfening, 212/838-3777 Email Contact or Media Contact: Miller/Shandwick Technologies Todd Van Hoosear/Anne-Marie Palastra 617-520-7114/617-520-7247 Email Contact Email Contact