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Venga Aerospace Systems Inc. (YVY) |
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CEOCFO Current
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This is a printer friendly page! Venga
Aerospace Systems has entered the 3D imagery and graphics business. An impressive
corporate turnaround boosted through joint ventures and exclusive licensing and patents. Venga Aerospace Systems Inc. (YVY-TSX Venture) was
established in 1987. The company’s initial business objective was the design and
development of an all-composite jet aircraft to meet a growing demand for a low cost, high
performance aircraft, known as the TG-10 Brushfire, capable of being used for both
training and light attack functions. In response to changing market conditions, Venga, in
late 1997, re-focused the Brushfire aircraft's intended application from a manned military
trainer to a full scale, unmanned drone aircraft useable as both a target for weapon
testing and as a tactical surveillance platform. In an effort to diversify its business
operations, Venga, in March of 1999, created the Deep Focus Art joint venture to
commercially exploit proprietary 3D graphic technologies. In a comparatively short time
period, Deep Focus Art established itself as an important player in the fast growing
3D-visualization market. In December of 2002 Venga further created the CLIK 3D Joint
Venture which made it a leading player in the 3D consumer camera and 3D film
processing retail market. “There really is no
competition,” Mr. Hirsh Kwinter, president of
Venga Aerospace Systems Inc. states. “We are basically
the sole 3D processor in North America. There is one other company in Georgia that is
doing the same thing that we do. But from what our customers tell us, their cost is twice
as much, the turnaround time is several months and the quality is not up to ours. I think
that we have a very interesting model and if we approach this opportunity properly we can
achieve and maintain dominance in a market that has in the past proven to be very
lucrative. It is interesting to note that several persons have cautioned us to learn
from the Sony experience with their BETA video technology. They were the only VCR
manufacturer and at the time they did not license it. Eventually their strategy resulted
in the creation of competition, which eventually ended up winning. Our strategy is
based on excellent customer service and adding more innovative items to our product line.
If we maintain this I am not worried about competition. We will always hold
our position of dominance.” Mr. Kwinter
explains the market for 3D. “To a certain extent, 3D is a
mature market because it has been around since the late 1900s. We are a niche market, but
a large one. It is a film-based product and there are 3D digital cameras that are coming
out shortly and we want to market those also. We will enter into development with the
largest retailer in Canada to test market 3D cameras. Typically, 3D camera users tend to
be more upscale and professional.” Addressing the financial condition of
Venga, Mr. Kwinter tells us, “We
were able to restructure the company and get a listing on the Canadian Venture exchange.
Further, I was able to raise funding. Unlike other companies, everyone working for Venga
is doing it for the value of their shares, and I defy you to find any other company that
has that kind of management style. As a result of our unique situation, the CBC (Canadian
Broadcasting Corporation) did a feature show on us in December, to show the obstacles that
we have had to overcome.” Addressing potential investors, Mr. Kwinter offers, “Investors should
realize management’s commitment to making this company successful. We have people
working with us who have a history of being successful in other businesses. They have made
sacrifices to add value to the company. We feel that our track record speaks for itself.
We have now passed the consolidation stage and we are moving forward. We believe
that with hard word, perseverance and dedication anything is possible." |
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