BWI: Cognex Seminar on ‘Automation in Solar Industry’ Created more Avenues for Indian Solar Manufactures

Press release from Business Wire India
Source: Cognex
Thursday, March 19, 2009 06:04 PM IST (12:34 PM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Electronic appliances & components, Energy companies, Media & entertainment; Technology
Release no: 19510
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Cognex Seminar on 'Automation in Solar Industry' Created more Avenues for Indian Solar Manufactures
Indian Solar Industry Stalwarts Met Cognex Delegates during Seminar at Hyderabad, Cognex Recorded $6 Million Sales for Solar Industry in 2008

New Delhi, Delhi and Mumbai, Maharashtra, India, Thursday, March 19, 2009 -- (Business Wire India) -- Cognex® Corporation (NASDAQ - CGNX), the world's leading supplier of machine vision systems, vision sensors and industrial ID readers, today conducted a seminar on 'Automation in Solar Industry' for Indian solar manufactures at Hyderabad. Cognex showcased a wide array of vision products applicable to the solar industry, particularly in ensuring the fabrication of high-quality solar cells at a low cost with minimal wastage. The seminar was well attended by eminent speakers, solar manufactures and delegates from the industry. Discussions revolved around how the solar industry growth in India can be enhanced with the help of automation, robotics and vision systems.

Growth in the solar cell industry is reported to be on the upsurge - the worldwide solar market was worth about $10.6 billion in 2006 and expected to grow a projected 40% year-on-year to reach $31.5 billion by 2011. Machine vision spending in the solar industry is similarly thriving - it is predicted that the spend will increase several fold from the reported $15 million in 2006 to about $100 million by 2012, a clear testament to the industry's critical need for machine vision.*

Cognex Seminar on 'Automation in Solar Industry' Created More Avenues for Indian Solar Manufactures / 2

Highlighting the importance of vision systems in the solar industry, Ettore Cucchetti, Cognex's Vice President of Sales, Marketing & Support - Asia said, "In these difficult times, there is heightened demand for a low-cost energy source, with many organizations and individuals turning to solar energy to save costs. This heightened demand in the economic downturn has led to many solar manufactures looking to optimize their production processes by eliminating production errors and detecting defects early so as to decrease wastage and increase the yield of high-quality solar products in a shorter time span. This is where Cognex comes in with our machine vision technology which enables automated inspection of 100% of the products, which means every part of every single product is inspected for quality as opposed to just a sample."

Cucchetti continued, "In India, we are honored to be working with Involute to bring to local solar manufactures a comprehensive range of leading-edge automated machine vision systems to help them tap into the market growth. As part of Cognex's on-going commitment to the India market, we aim to create more platforms like today's seminar to connect directly with the local producers and enable sharing of industry expertise to grow the industry together."

* The industry statistics are gotten from the following sources:

-- 2007 WORLD PV INDUSTRY REPORT
-- Prismark Research LLC Draft report on Photovoltaics 2006
-- Prometheus Institute (May 2008)

About Cognex

Cognex Corporation designs, develops, manufactures, and markets machine vision sensors and systems, or devices that can "see." Cognex vision sensors are used in factories around the world to automate the manufacture of a wide range of items and to assure their quality. Cognex is the world's leader in the machine vision industry, having shipped more than 450,000 machine vision systems, representing over $2.5 billion in cumulative revenue, since the company's founding in 1981. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices and distributors located throughout North America, Japan, Europe, Asia, and Latin America. Visit Cognex on-line at http://www.cognex.com/.

Cognex is a registered trademark of Cognex Corporation.


CONTACT DETAILS
Abhinav K. Srivastava, Comma Consulting, +91 9892323750, abhinav.srivastava@comma.in

KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, ELECTRONICS, ENERGY, MEDIA, TECHNOLOGY

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