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Key Technology and Visys Announce Merger

Complementary Companies Offer Unprecedented Mix of Products and Support Capabilities Worldwide

February 25, 2013 – Key Technology, Inc. and Visys NV, a leading provider of chute-fed in-air sorters used by food processors and waste recyclers, have entered into a merger agreement. The combination of Key Technology and Visys creates the single most complete source of high-performance, digital sorting technologies available for food processing and other industrial markets.

“This partnership with Visys creates a value proposition that is unmatched in the industry. Through a single supplier, customers will have access to the highest performing chute-fed and belt-fed sorters available, along with our industry-leading processing systems and unparalleled support to satisfy needs in all steps of the processing line,” said Jack Ehren, President and CEO of Key Technology. “Given this unprecedented mix of product solutions and services, we’re well positioned to improve customers’ operational efficiencies and maximize their competitive advantages. Furthermore, by consolidating our intellectual property and innovations, we expect to accelerate the development of next-generation sorting technology.”

Visys will continue to operate in Hasselt, Belgium, as a wholly-owned subsidiary of Key Technology. Frank Zwerts will assume the position of President of EMEIA for Key Technology and will play a prominent role in Key’s global strategy and corporate development. 

“With this merger, the combined entity is at the forefront of vision inspection technology, analytics, and intelligence. Key’s focus on sales, service, and customer relationships worldwide will enable us to deliver the most value to our customers going forward,” said Zwerts. “The Visys team believes in the holistic benefits of combining the two companies, and we are excited to work with Key to accelerate our potential and growth prospects.”

The strengths of Key and Visys are complementary on multiple levels. Visys adds field-proven chute-fed in-air sorters to Key’s family of belt-fed sorters. Plus, Visys has developed advanced laser technology and hyperspectral-based BioPrint™ sorting, while Key excels with camera/laser sorting and the integration of conveying and other processing systems. Visys adds a dynamic culture of innovation to Key’s hallmarks – 65 years as a trusted supplier, an established global sales and service organization, the financial health and integrity associated with publicly-traded companies, and a culture of strong customer relationships and support.

Visys’ chute-fed in-air sorters will augment Key’s product line, which includes belt-fed sorters, complementary conveyors, and other processing systems. Key’s popular belt-fed sorters – Optyx®, Tegra®, and Manta® – identify and remove foreign material and defects from a variety of food products. Veo™ is Key’s optical sorter for seed corn. Key’s ADR® system for potato strips cuts strips to length and removes defects. In addition, Key applies its expertise in product handling with Iso-Flo® vibratory conveyors, Horizon™ horizontal motion conveyors, and Impulse® electromagnetic conveyors. Key’s other processing systems include equipment for sizing, grading and separating, and systems for blanching, air cooling, air cleaning, washing, and feeding. Key’s services include application testing, custom engineering, line integration, installation and start-up, training, and customizable service packages for maintenance and repairs.

Visys’s field-proven sorters – Lynx, Spyder, Python, and Cayman – are used in food processing plants to sort nuts, fruits, vegetables, potato products, seafood, and more. These digital sorters use lasers and/or cameras to identify and remove foreign material and defects from the product stream. Visys’ new hyperspectral-based BioPrint technology enables sorting based on chemical composition and could allow potato processors to detect invisible defects such as sugar-ends and zebra chips. The BioPrint sorter is also ideal for nuts and dried fruit, removing shells, septa, stones, sticks, and hulls. For the waste recycling and material recovery industries, Visys’ Cayman and Spyder products are ideal for polymer typing.

For more information, please visit http://go.key.net/totalvision.

About Visys NV
Established in 2004, Visys is a leading provider of high-performance digital sorting solutions to the global food and non-food processing industries. The company’s sorting systems replace manual methods with automated sorting to detect and remove foreign material and defects from product streams. The company has pioneered industry-leading laser technology and BioPrint sorting capabilities used on its Lynx, Spyder, Cayman, and Python sorting platforms. Headquartered in Belgium, Visys supports a substantial customer base in the food processing and waste recycling industries, primarily in Europe.

About Key Technology, Inc.
Key Technology, an ISO-9001 certified company, is a global leader in the design and manufacture of process automation systems including digital sorters, conveyors, and processing equipment. Applying processing knowledge and application expertise, Key helps customers in the food processing and other industries improve quality, increase yield, and reduce cost. With worldwide sales representation, the company maintains demonstration and testing facilities at its headquarters, and manufacturing divisions in Walla Walla, Wash., U.S.A, and at Key Technology BV in Beusichem, the Netherlands. The company's common stock trades on the Global Market tier of The NASDAQ Stock Market® under the symbol KTEC.

Contact:



Reader Inquiries:
Anita Funk
Key Technology, Inc.
150 Avery Street
Walla Walla, WA 99362
USA

Tel: +1 509 529 2161
Fax: +1 509 527 1331
afunk@key.net
www.key.net

Reader Inquiries:
Frank Zwerts
Visys NV
Kiewitstraat 242
B-3500 Hasselt
Belgium

Tel: +32 (0) 11 24 91 91
Fax: +32 (0) 11 24 91 99
frank.zwerts@visysglobal.com
www.visysglobal.com
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Key Technology | 150 Avery Street, Walla Walla, WA 99362 USA