FORT MYERS, Fla., Sept. 3, 2004 (PRIMEZONE) -- Martin Nielson, formerly CEO, Innova Holdings, Inc. (OTCBB:IVHG), announced that the Board of Directors named Walter Weisel as its Chairman and CEO going forward. Weisel, who will report directly to the Board of Directors, continues in his capacity of Chairman and CEO of Robotic Workspace Technologies, Inc. ('RWT'), which was recently acquired by Innova Holdings and becomes a wholly owned subsidiary of Innova and its principle operating company.
Effective immediately, Weisel takes responsibility for Innova's strategy moving forward, which is to grow through the acquisition of leading-edge technology companies that demonstrate a high likelihood of success based on market share and profitability potential.
In making this announcement Nielson said, "Walt is the perfect fit for this job. Ours is a business of vision, innovation, and talented management. I feel very confident and fortunate to be able to turn this job over to Walt and very much look forward to seeing his influence on the company."
Weisel is a well-known industry leader, who throughout his career has earned numerous accolades including the prestigious Joseph F. Engelberger Award which recognizes the most significant contributions to the advancement of robotics and automation in the service of mankind and the Product of the Year Award for the United States for the world's first completely voice-activated robotic and computer workstation for the severely disabled, including quadriplegics. He has previously served in executive management positions with Cincinnati Milacron, Inc., Unimation, Inc., Prab Robots, Inc., and International Business Link, Inc. During his tenure as CEO, President, and COO of Prab Robots, a successful public offering was made and the company grew 700 percent.
"I believe Innova represents one of the most exciting opportunities in today's technology sector because although the market may have stalled the past couple of years, innovation certainly has not," said Weisel. "Our task is to seek out the companies that have developed and proven emerging technology and its application and evaluate their potential contribution to Innova. The possibilities are enormous."
About Innova Holdings, Inc.
Innova Holdings, Inc. (OTCBB:IVHG), Fort Myers, Florida, is a holding company which intends to create compelling, profitable, and productive growth by seeking out and acquiring companies possessing a high potential for sustainable growth. Innova does not intend to invest in or acquire entities with unproven or "conceptual" business models. It intends to build acquired companies to achieve a "critical mass" of market visibility and acceptance, becoming substantial value-driving subsidiaries and/or attractive candidates for either a strategic sale or a public spin-off. Management will target acquisitions that bring high potential, proprietary technologies to Innova. Some targeted companies will be merged into subsidiaries of Innova and others will form the basis for new subsidiary entities.
About Robotics Workspace Technologies, Inc.
Robotic Workspace Technologies was founded in 1994 to enhance the field of robotics with commercially available, standard PC products to improve robot performance, applicability, and productivity. In this spirit of innovation, RWT has been at the forefront of developing and offering solutions built upon an open architecture that harnesses the power and user-friendliness of the PC platform and the Windows(r) operating system. Its technology has been applied to robots and a wide range of automated equipment performing many tasks in industries ranging from agriculture to automotive, to medical and R&D. Headquartered in Fort Myers, Florida, RWT is recognized internationally for its pioneering contributions to the robotics industry. Its founder and Chief Executive, Mr. Walter Weisel, has been a driving force in the robot industry for the past 32 years. He worked with Unimation, Inc., founders of the industrial robot, Prab Robots, Inc. as Chief Executive Officer, President, and Chief Operating Officer (a successful public offering was made during his tenure as President); as President of International Business Link (IBL); and he is currently the Chairman and Chief Executive Officer (CEO) of RWT which celebrates its 10th anniversary in September of this year. Mr. Walter K. Weisel is a recipient of the prestigious Joseph F. Engelberger Award, recognizing his contributions to the advancement of robotics and automation.
RWT introduced in 1998 the world's first open-architecture PC controller for robots, the Universal Robot Controller (URC(tm)) and the first Windows(r)-based environment for robot programming, control and monitoring, the RobotScript(r) universal robot programming language. The URC and RobotScript can be fitted to virtually any robot, new or already in production. Since the URC and RobotScript conform to industry standards, this control system provides a level of connectivity to other automated production equipment and enterprise-wide computers never before available from a robot controller. This is an important capability because connectivity allows various pieces of automated production equipment to work together in an efficient manner. The URC can even acquire and transmit digital and analog data via the Internet, giving manufacturers access to their robotic operations worldwide with one common tool.
Universal Robot Controller(tm), RobotScript(r) and TeachPoint File Creator(tm) are either registered trademarks or trademarks of Robotic Workspace Technologies, Inc. (RWT) in the United States and/or other countries.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
Forward-looking statements such as "anticipate," "believe," "expect," "may," "will," "should," "plan," "projected," "intend," etc. contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the Company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Therefore, undue reliance should not be placed on any forward-looking statements, since they apply only as of today's date, and accordingly, reference should be made to the Company's periodic filings with the SEC.
For more information on Innova, contact: Ronald L. Garner, Equitilink, LLC at 877-778-1940.
For More Information Contact:
Sandra L. Brooks INCOMM International Inc. 6227 Graves Street Jacksonville, FL 32210 Tel: (904) 778-4434 Fax: (904) 778-4436 Cell: (904) 613-9183 Email: slbrooks@incomminternational.com URL: www.incomminternational.com