Tower Technology establishes U.S. subsidiary; High-performance imaging leader attacks North American market

Business Wire, April 10, 1995

SAN FRANCISCO--(BUSINESS WIRE)--April 10, 1995--Tower Technology Pty. Ltd., Australia's leading developer of high-performance imaging and workflow systems, today announced it has established a U.S. subsidiary to extend its operations into the largest imaging market in the world.

Tower Technology Inc. will market, sell, service and support a full range of advanced imaging and workflow technology throughout North and South America. Walter J. Elliot was named president of the subsidiary, which is headquartered in Boston, Mass.

Frank Johnson, joint managing director and co-founder of the Australian firm, said that his company is looking forward to the opportunities of the U.S. market.

"We have built a very strong business in Australia, Europe and Asia built on technology, service and commitment to our customers," said Johnson. "I am confident that under Walter's leadership we will be able to duplicate in the U.S. the level of success that we have established in other markets."

Tower Technology Pty. Ltd., founded in Australia in 1987, has staked out the high end of the imaging market with the Tower Imaging System, its complete, high-performance, imaging hardware/software solution. Designed to integrate into existing computer environments, Tower's products are turnkey solutions that boost productivity and improve service of large organizations. The Tower Imaging System transforms high volumes of paper-based documents and processes them into images that can be shared by multiple users in a LAN environment.

"I'm delighted to join Tower," said Walter J. Elliot, president of Tower Technology USA. "The quality of the company's products and customers the world over speaks volumes about the tremendous opportunity facing us in the U.S. We're looking forward to partnering with U.S. firms to deliver the same high standards that have been the hallmark of Tower Technology.

Satisfied Customers

Tower currently enjoys a 70 percent market share in Australia for multi-user, jukebox-based, imaging/workflow systems. Its customers include both public and private companies as well as government agencies.

Among Tower's more notable success stories are:

o The Australian Health Insurance Commission, which administers Australia's universal health care plan. With its WAN-based imaging system -- the largest of its type in the world -- it processes more than 500,000 transactions each day for its 17 million members. The Tower Imaging System has reduced annual costs by more than $3 million (U.S.).

o The Australian Patents Office uses the Tower Imaging System to store more than 6.5 million patent abstracts that were previously stored on microfilm. The system has significantly improved the patent approval and has decreased operating costs.

o Barclays Bank, the largest in the United Kingdom and one of the largest in the world, is using the Tower Imaging and Workflow System in high-profile customer service applications.

o Trade Indemnity, the U.K.'s largest credit risk insurer, uses Tower's Imaging System to process and store over 7 million typed pages of hard copy enabling Trade Indemnity to base credit decisions on up-to-the-minute commercial intelligence.

Tower Technology Inc., a subsidiary of Australia-based Tower Technology Pty. Ltd., designs, develops, integrates, and supports high-performance imaging products that enable workgroup computing by transforming paper-based documents to images that can then be processed under computer control. The firm is headquartered in Boston, Mass.

CONTACT: Tower Technology Inc., Boston

Walter Elliot, 617/542-5828

or

Neva Group, Cambridge, Mass.

Michael Dowding/Charles Guyer, 617/441-4000