October 1, 2001
Intercim, Inc., a wholly owned subsidiary of Industrial and Financial Systems, announced today that it has completed the spin-off of Intercim NC Solutions Center, the company's Computer Aided Manufacturing (CAM) software, as an independent privately held company. The company also announced that Intercim NC Solutions Center will be called Austin N.C., Inc. Dba Intercim-Austin.
John Todd, Intercim's President and chief executive officer, said "Intercim NC Solutions Center and Intercim, Inc. are each widely recognized brands within their respective industries and market focus. We believe that both companies will benefit from maintaining the considerable equity built up over the past many years."
"We believe that as separate companies, we will be better able to serve our respective customers, create greater value by focusing on our core strengths, and maintain our leading market positions and outstanding employees," said Scott Christopherson, Austin N.C. President.
"Through separating our CAM business, each company will make decisions more quickly, deploy resources more rapidly and efficiently, and operate with greater agility. This is a great opportunity for Austin N.C. to build on its consistent profitability and leadership," said Ven Sudhakar, Vice President.
The new privately held company will officially be named "Austin N.C., Inc. Dba Intercim-Austin". The company will be based out of its Austin Texas offices.
To view the Official IFS Press Release click here.
