STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Opus Inspection has acquired controlling interest in FASTLIGN®, a patented laser-based technology that instantly measures wheel alignment of cars and trucks. This ground-breaking automated technology identifies faults in steering, suspension, and wheel distortion with a speed and convenience that no conventional methods can match. A significant percentage of in-use vehicles have wheel alignment, suspension, and tracking issues that often go unnoticed. The FASTLIGN® vehicle test is performed touchless, and is completed in less than three seconds as vehicles are driven between two laser towers FASTLIGN® on their way into a service area.
FASTLIGN® expands upon Opus’ significant vehicle testing technology and is being used by automotive service shops and dealerships to make a pass/fail determination. Vehicles failing this fully automated test receive a service recommendation.
Opus Inspection has formed a new company, Fastlign LLC, with BanaLogic, Inc. – the developer of FASTLIGN®. The new company controls all of the intellectual property associated with the FASTLIGN® and is majority owned by Opus Inspection. BanaLogic will continue to support FASTLIGN® while Opus Inspection promotes FASTLIGN® throughout all segments of the vehicle inspection and repair industry.
“Opus Inspection will bring FASTLIGN® to new markets by leveraging Opus Inspection’s global presence in the vehicle inspection industry,” said Mr. Troy Woolridge, CEO of BanaLogic. “Our current FASTLIGN® product is especially valuable to automotive dealerships, repair shops, and tire shops, who will be able to expand their customer offerings. In addition, Opus will be able to add value to the road worthiness inspections performed at Opus-owned stations.”
Opus Inspection CEO, Lothar Geilen, stated, “FASTLIGN® will be an integral part of our strategic plan to expand our cutting-edge, automated inspection technologies and vehicle services. It will be initially offered to many of our existing 28,000 shop customers in the U.S. market, and ultimately worldwide. This is an exciting new addition to Opus innovative product and services line up.”
Mölndal, Sweden, September 14, 2016
Opus Group AB (publ)
This press info is available in Swedish at www.opus.se. This is an English translation of the Swedish press release. In case of differences between the English translation and the Swedish original, the English text shall prevail.
Opus Group is a leading innovative technology focused growth company in the vehicle inspection market. The company has a strong focus on customer service and innovative technology within IT, emission testing and vehicle communication. The Group had SEK 1,650 million in revenues in 2015 with strong operating cash flow and good operating profitability. With over 1,500 employees, Opus Group is headquartered in Mölndal in the Gothenburg region of Sweden and has 25 regional offices, 20 in the United States and the others in Stockholm, Peru, Chile, Mexico and Pakistan. Opus Group has production facilities in the U.S. in Hartford and Ann Arbor. The Opus Group share is listed on Nasdaq Stockholm.
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