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Vuzix Receives M300 Follow-On Orders from SATS to Rollout and Outfit Ramp Handling Operations with Smart Glasses at Changi AirportROCHESTER, N.Y., Oct. 9, 2018 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, is pleased to announce that the Company has received an ~$1 million commercial M300 Smart Glasses follow-on order from SATS Ltd. (SATS), Asia's leading provider of Gateway Services and Food Solutions, to outfit SATS' ramp handling operations at the Changi Airport in Singapore.
SATS, the chief ground-handling and in-flight catering service provider at Singapore Changi Airport, started piloting the Vuzix M300 Smart Glasses to digitize its ramp handling operations in mid-2017 and is now completing phase 2 by introducing and deploying the technology to more than 500 staff at Changi Airport. Using Vuzix M300 Smart Glasses, SATS ramp handling staff will now be able to scan barcodes on baggage and cargo containers to improve the baggage handling process. Ramp handling staff will also receive real-time loading instructions, which provides the ramp control center with a real-time view of on-ground processes. SATS expects to increase accuracy and improve efficiency of baggage and cargo handling processes for larger wide-body aircraft, by reducing loading times by up to 15 minutes per flight on average. SGX-listed SATS provides services in 60 airports and 62 cities across Asia and the Middle East. An overview of the SATS' augmented reality smart glasses project at the Changi Airport can be viewed here and here. "SATS is a leader at innovation and now they are driving operational improvement through the use of SmartGlasses in their ramp handling operations. We are excited to be able to outfit SATS ramp handling staff at the Changi Airport with M300 Smart Glasses to help them quickly and accurately turnaround aircrafts and we look forward to additional smart glasses deployments with SATS in the future," said Paul Travers, Vuzix President and Chief Executive Officer. About Vuzix Corporation Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 64 patents and 71 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2018 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan. Forward-Looking Statements Disclaimer Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix business opportunities and growth with SATS and the Company's leadership in the Video Eyewear and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Media and Investor Relations Contact: Matt Margolis, Director of Corporate Communications and Investor Relations, Vuzix Corporation [email protected] Tel: (585) 359-5952 Ed McGregor, Director of Institutional Investor Relations, Vuzix Corporation [email protected] Tel: (585) 359-5985 Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
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