Korntal-Münchingen, 24th of November – FARO Technologies, Inc. (NASDAQ:FARO), the world’s most trusted source for 3D measurement and realization technology, announces new Distributor Agreement with CAD-Q in Sweden, Norway, Finland and Denmark.
David Southam, Regional manager Europe North from FARO Europe commented: “We are really pleased to be working with Cad-Q. The market for 3D laser scanning and associated software is growing rapidly in Scandinavia and many other regions. I recently attended the Cad-Q Design Management Forum and I was really impressed with the content and quality of the Cad-Q representatives and presenters. Working with the leading Nordic supplier of 3D software is an exciting project and I am looking forward to collaborating with Cad-Q in the future.”
Cad-Q was founded in 1989 and employs about 250 skilled employees in 20 offices in Sweden, Norway, Denmark, Finland and UK. Cad-Q is 100% owned by Addnode Group listed at Nasdaq OMX Stockholm, Small Cap.
As the leading provider of model and drawing-related IT in the Nordics, CAD-Q is working with software implementation, training, product and IT support related to the construction, real estate and industrial sectors.
Anders Moberg says: “Our solutions are based on CAD systems and internally developed complementary systems for digital model- and drawing-related information. We are active in the building, infrastructure, property and manufacturing industries. Thanks to our experience and broad expertise, we can always introduce cross-border proposal based on your challenges.”
In connection with this agreement, FARO will allow Cad-Q to establish a new business team that provides hardware and software from FARO in the field Reality Capture. Cad-Q's business Facility Management, which for several years worked with 3D laser scanning as a method to document existing buildings will now expand its offering with products from FARO.
The products in question consist of 3D Documentation products including FARO® Laser Scanner Focus3D X Series, FARO® Scanner Freestyle3D and FARO software that integrates pointclouds with design software from Autodesk.
We are very pleased that FARO entrusted us to distribute and sell their products on the Nordic market and we are experiencing a large increase in interest for laser scanning and point cloud handling among our existing and new customers.
More information about CAD-Q
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about demand for and customer acceptance of FARO’s products, and FARO’s product development and product launches. Statements that are not historical facts or that describe the Company’s plans, objectives, projections, expectations, assumptions, strategies, or goals are forward-looking statements. In addition, words such as ”is,” “will,” “continues” and similar expressions or discussions of FARO’s plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results, performances, or achievements to differ materially from future results, performances, or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements.
Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to:
- development by others of new or improved products, processes or technologies that make the Company’s products less competitive or obsolete;
- the Company’s inability to maintain its technological advantage by developing new products and enhancing its existing products;
- declines or other adverse changes, or lack of improvement, in industries that the Company serves or the domestic and international economies in the regions of the world where the Company operates and other general economic, business, and financial conditions; and
- ·other risks detailed in Part I, Item 1A. Risk Factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
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