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Lyrtech and Enigma Interconnect conclude manufacturing agreement on recent Lyrtech CA$ 28 million OEM contract

^{Published on 2010-08-18 09:46:14 - Market Wire}
 

QUEBEC CITY, Aug. 18 /CNW Telbec/ - Lyrtech Inc. (Lyrtech) (TSX-V: LTK), a worldwide leader in digital signal processing technologies and a Texas Instruments Elite Design House, is proud to announce that it has concluded a manufacturing agreement with Enigma Interconnect, regarding its recent CA$ 28 million OEM contract that involves designing, developing and delivering intelligent motion detection modules based on existing Lyrtech intelligent optical sensing (IOS) technology. Under this agreement, Enigma will mass produce the device developed by Lyrtech.

The agreement will ensure a steady flow of work at the fabrication, assembly and testing installations of Enigma Interconnect in Pointe-Claire, St-Laurent and Vancouver. Projected to last two years, the device will be assembled and tested in the Montreal (QC) area and will use printed circuit boards supplied by Enigma Interconnect's plant in Vancouver.

"This agreement strengthens the solid relationship between Enigma Interconnect and Lyrtech, and is based on a business model that seeks to provide customers with an integrated solution that ranges from design, printed circuit boards manufacturing, electronics assembly to final test," said Avraham Elarar, president and chief executive officer at Enigma Interconnect.

"We are pleased with this manufacturing agreement, which will allow us to benefit from Enigma's solid financial capabilities to efficiently deliver this very important OEM product. It also means that our rapidly expanding OEM product business activity can grow very quickly. This agreement allows us to look forward to closing additional business deals with our occupancy sensors and femtocell OEM products," said Louis Bélanger, president and chief executive officer at Lyrtech.

IOS is a promising DSP-based technology set to replace older sensing technologies such as passive infrared and ultrasonic occupancy sensing, as IOS can detect presence even without motion. IOS is also capable of offering reliable people counts in predefined areas. In a world where energy efficiency and higher cost-effectiveness are major concerns, IOS is going to become pivotal in HVAC and lighting systems so they can become capable of automatically adjusting heat, airflow or light use. IOS technology also opens new horizons in the safety and security markets without compromising on privacy, as well as in marketing and room management, among others.

About Lyrtech

Lyrtech, a proud Texas Instruments Elite Design House, develops and manufactures advanced digital signal processing solutions for companies worldwide, a vital technology to network and wireless communications, audio and video processing, as well as electronic systems in all fields of technology. Lyrtech offers a full range development platforms, as well as design, prototyping and manufacturing of electronic products. Lyrtech works in partnership with industry leaders such as Texas Instruments, The MathWorks, and Xilinx. Lyrtech's customers include many prestigious names of the consumer electronics, telecommunications, aerospace, and defence fields. For details, visit [ www.lyrtech.com ].

About Enigma Interconnect

Founded in 1973, Enigma Interconnect is a provider of seamless and fully integrated electronics manufacturing services (EMS), which encompass engineering, design, fabrication and assembly of high-density circuit boards, as well as the full integration and testing of complex systems. The company has a multilayer and specialty materials printed circuit boards fabrication plant in Vancouver and two design and assembly of high-density circuit boards and final integration plants in Montreal, as well as procurement offices in Shenzhen, China. Enigma is ISO 9001:2000 and ISO 13485:2003 certified and its Vancouver plant is UL approved.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.