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Eurocontrol Technics Group Agrees to Acquire XwinSys Ltd.
TORONTO, ONTARIO--(Marketwire - March 8, 2012) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification, certification technologies, is pleased to announce that it has agreed to acquire all of the issued and outstanding common and preferred shares of XwinSys Ltd. ("XwinSys") for consideration of five million Eurocontrol common shares. XwinSys is a private company located in Israel that develops, manufactures and sells inspection systems for the semiconductor industry. The acquisition is subject to customary conditions including satisfactory completion of due diligence review and approval of the TSX Venture Exchange.
XwinSys is currently developing intellectual property that will combine 2D and 3D image processing technology, from Brossh Inspection Systems Ltd. of Israel, with Eurocontrol's subsidiary Xenemetrix Ltd's ("Xenemetrix") Energy-Dispersive X-ray Fluorescence ("EDXRF") technology. The 2D and 3D imaging will be used for surface scanning of wafers and electronic boards used in semiconductors, while the EDXRF technology will be used for elemental analysis of the materials that comprise the wafers and electronic boards.
"XwinSys is expected to bring to the semiconductor industry a new and truly unique approach to handling review stations for the industry," commented Mr. Bruce Rowlands, President and CEO of Eurocontrol. "Combining technologies as well as identifying new applications for existing technologies will expose Eurocontrol, through XwinSys, to the semiconductor industry and should further diversify our platform of authentication, verification and certification technologies." added Mr. Rowlands.
"The opportunity to cooperate with Eurocontrol Technics Group and their Xenemetrix unit to merge their X-ray technology with Brossh's unique 2D and 3D image processing has the potential to revolutionize the semiconductor equipment industry," added Mr. Michael Geffen, CEO, Brossh Inspection Systems.
XwinSys is targeting a market of more than US$2 billion a year for the review stations market in the semiconductor industry. Xwinsys evolved from cooperation between Xenemetrix, a company based in Israel and specializing in materials analysis with X-Ray machines and Brossh, a company specializing in 2D and 3D image processing. Brrosh's expertise is in laser triangulation, chromatic con focal and LINNIK Interferometers.
About Eurocontrol Technics Group Inc.
Eurocontrol Technics Group Inc. through its two wholly owned subsidiaries GFI and Xenemetrix is one of the world's pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through its proprietary Petromark™ integral system, GFI has developed a four-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's five-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Group Inc. allows management to pursue numerous anticipated oil marking opportunities in 2011 and in years to come. Please visit Eurocontrol Technics Group web site at www.eurocontrol.ca.
Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the completion of the acquisition, the future financial or operating performance of each of Eurocontrol, its projects and partnerships, the expected improvements of current systems and the timing of the future launch of new systems, the expected synergies resulting from the partnership, the effect such arrangements can be expected to have on Eurocontrol's performance and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Eurocontrol, Xwynsis and Xenemetrix to be materially different from those expressed or implied by such forward- looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; achievement of synergies; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the industrial industry; and, delays in obtaining governmental approvals or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Eurocontrol does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.