Test and Measurement Innovators Focused on Key Growth Markets
Xenemetrix, winner of the Frost & Sullivan awards - 2010 and 2015
Strong Balance Sheet and Partners
Innovators in Taking the Laboratory to the Field
Xenemetrix Expands Global Network With New Indian Partner
TORONTO, ONTARIO--(Marketwire - Oct. 12, 2011) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
Eurocontrol Technics Group Inc.
(TSX VENTURE:EUO), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication, verification and energy security technologies, through its wholly owned subsidiary, Xenemetrix Inc., today announced it has signed an exclusive distribution agreement with AIMIL Ltd. ("Aimil") of India. Aimil is at the forefront of the instrumentation industry in India, providing state-of-the-art instruments and related services to clients across the Indian sub-continent. Pursuant to this agreement, Aimil has been granted exclusive rights to promote and distribute Xenemetrix's products in India, Bangladesh and Sri Lanka.
"Our entrance into the south Asian market clearly demonstrates a demand for Xenemetrix's products on a global scale," said Bruce Rowlands, President and CEO of Eurocontrol Technics Group. "The elemental analysis market continues to expand and Xenemetrix intends to be at the forefront of this market," he added.
"Xenemetrix is looking forward to our Energy-Dispersive X-Ray Fluorescence ("EDXRF") analyzer having an increased presence in the Indian sub-continent. Through this partnership we are aiming to raise the profile of our EDXRF analyzers in the region and demonstrate how it can be used for elemental analysis for wide range of materials with great accuracy and low limits of detection," said Doron Reinis, CEO of Xenemetrix.
"Aimil is looking forward to introducing Xenemetrix's EXDRF analyzers to the Indian market," said Mr. R. K. Pillai, Vice President of Aimil. "We believe that these EXDRF analyzers are best in class." AIMIL has 12 sales and service offices and more than 500 professionals across India.
Xenemetrix will continue to source marketing and distribution partnerships with new and well established distributors in other parts of the world.
Eurocontrol's other wholly owned subsidiary, Global Fluids International S.A. ("GFI") specializes in the development of marking and detection systems for the oil industry. GFI produces the marking system and Xenemetrix's EDXRF analyzers are the detection protocol used to detect the presence of the markers in hydrocarbons.
About EurocontrolTechnics 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
About Xenemetrix Inc.
Xenemetrix Inc. is based in Israel and is a leading designer, manufacturer and marketer of Energy-Dispersive X-ray Fluorescence (EDXRF) systems and components for a wide range of industries and applications. Relying on more than 30 years experience in the field, Xenemetrix provides quality and cost effective answers to real world analytical challenges by combining the latest technological developments with innovative engineering. Xenemetrix has an installed base of approximately 850 systems worldwide of which 290 are installed in the USA. Eurocontrol purchased Xenemetrix in October 2010 with the aim to leverage the in-house technology portfolio to revamp the product line to include systems dedicated to anti-counterfeiting and home-land security. Xenemetrix was awarded Frost & Sullivan's "GLOBAL PRODUCT LINE STRATEGY OF THE YEAR AWARD IN THE EDXRF ANALYZERS MARKET" for the year 2010. Please visit Xenemetrix's web site at: www.xenemetrix.com
About AIMIL Ltd.
Aimil has been at the forefront of instrumentation industry in India, providing the state-of-the-art Instruments and related services, since 1932. Aimil offers instruments in the fields of civil engineering, electronics, analytical and industrial, hygea healthcare. It also offers consultancy in the fields of civil engineering, noise and vibration engineering services, and condition monitoring reliability services. Through their products, Aimil brings in leading edge technologies to their customers. Aimil is an ISO 9001: 2008 certified company with 12 sales and service offices and more than 500 professionals across India. Please visit Aimil's web site at: www.aimil.com
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 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 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; 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.