FORT MYERS, Fla., Sept. 14, 2004 (PRIMEZONE) -- Walter Weisel, the newly appointed Chairman and CEO of Innova Holdings, Inc. (OTCBB:IVHG), chaired the first meeting of the Board of Directors last week, barely two weeks since his appointment. Several key announcements result from this meeting:
With regards to Innova Holdings, Inc. (IH):
-- Mr. Lee Johnson of Johnson & Associates, Fenton, MI, has been
named Chief Financial Officer of Innova Holdings, Inc.
-- Ms. Sheri Aws, Vice President of Administrative Services, Robotic
Workspace Technologies, Inc. (RWT), Fort Myers, FL, now the
wholly owned subsidiary, has been named Corporate Secretary of
Innova Holdings, Inc., the parent company.
With regards to Robotic Workspace Technologies, Inc. (RWT), a wholly-owned subsidiary of Innova Holdings:
-- The Innova Holdings Board of Directors agreed to strengthen the
Board of Directors of RWT by appointing two new members.
-- Mr. Ron Fukui, a long-standing industry leader in controls
technology, Livonia, MI, has been named Chief Technical Officer
of RWT.
-- Mr. Tom Helzerman, previously a career executive with Ford Motor
Company and then President of RWT until 2003, will rejoin the
company as a Board member.
Innova Holdings advises that additional information on these announcements will be forthcoming.
"We want our shareholders to know that despite the 'inclement weather' we've been experiencing here in Florida, the new Innova Holdings management team is undeterred and moving forward with our strategy despite Hurricanes Charley, Frances, and Ivan," says Walter Weisel, Chairman and CEO of Innova Holdings, Inc.
"The individuals who are joining our team have outstanding careers in their respective fields, with a track record of achievement. They add their years of experiences to our company and they will make invaluable contributions to Innova Holdings and the RWT team," Weisel comments.
About Innova Holdings, Inc.
Innova Holdings, Inc. (OTCBB:IVHG), Fort Myers, Florida, is a holding company formed to increase shareholder value by creating compelling, profitable, productive, and sustainable growth; seeking out and acquiring technology differentiated companies with extraordinary potential. Management will target acquisitions that bring high potential, proprietary technologies to Innova. 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. Some targeted companies will be merged into subsidiaries of Innova and other targeted companies will form the basis for new subsidiary entities.
About Robotics Workspace Technologies, Inc.
Robotic Workspace Technologies (RWT) 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. Two "founder's" patents have been issued by the United States Patent and Trademark Office. Foreign filings for RWT patents have been applied for.
Headquartered in Fort Myers, Florida, RWT is recognized internationally for its pioneering contributions to the robotics industry and celebrates its 10th anniversary in September of this year. Its founder, Chairman, and Chief Executive Officer (CEO), 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); President of International Business Link (IBL); and he currently serves as the Chairman and Chief Executive Officer (CEO) of RWT and as Chairman and Chief Executive Officer (CEO) of Innova Holdings, Inc.. 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 applied 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