Listed on the TSX Venture and OTCQB Venture Markets
Evaluating Strategic Alternatives and Investment Opportunities
Xenemetrix Bringing Its Energy Dispersive X-ray Fluorescence Technologies to Southeast Asia
TORONTO, ONTARIO--(Marketwire - June 6, 2011) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
Eurocontrol Technics 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 for Thailand with Sithiporn Associates Co., Ltd. ("Sithiporn"). Sithiporn is one of the leading scientific equipment distributors in Thailand and has plans to expand its market area into other selected southeastern Asian countries.
"Xenemetrix's expansion into southeast Asia demonstrates that a global demand for its Energy-Dispersive X-ray Fluorescence ("EDXRF") systems exists," commented Bruce Rowlands, President and CEO of Eurocontrol Technics. "Sithiporn is an ideal partner for Xenemetrix as it has more than two decades of experience and service to the scientific community in the analytical instruments business," added Bruce Rowlands.
"Our EDXRF analyzers are capable of elemental analysis for wide range of materials with great accuracy and low limits of detection. Sithiporn's customer base will benefit from having a top of the line product to purchase," said Doron Reinis, CEO of Xenemetrix.
Sithiporn has exclusive rights to promote and distribute Xenemetrix's products in Thailand.
"Sithiporn believes that the Xenemetrix EXDRF analyzers are best in class and is looking forward to offering this superior detection system to our current and future customers," said Dr. Percha Hengtrakul, Managing Director of Sithiporn Associates Co., Ltd. "Being able to offer top of the line EXDRF analyzers will benefit our Company as we continue to grow in Thailand and other countries in the region".
Xenemetrix will continue to source marketing and distribution partnerships with new and well established distributors in other parts of the world.
About Eurocontrol Technics Inc.
Eurocontrol Technics Inc., through its two wholly-owned subsidiaries, Global Fluids International S.A. ("GFI") and Xenemetrix Inc., 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 Inc. allows management to pursue numerous anticipated oil marking opportunities in 2011 and in years to come. 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 800 systems worldwide of which 250 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 Sithiporn Associates Co., Ltd.
Sithiporn Associates Co., Ltd.'s vision is to be number one in the scientific instrument business. Its strategy is to continue to market based on 95 percent direct sales and 5 percent of sales through local dealers. While continuing and refining the current business strategies, Sithiporn has plans to expand its market area into other selected Southeastern Asian countries. Sithiporn markets and sells its products and services through a combination of direct sales, trade shows, technical seminars, and print advertising. Direct sales and marketing are performed by its own departmental sales force, technical experts, and operations managers. In November 2000, Sithiporn earned and received the standard ISO9002 quality system certificate and advanced the standard to be ISO 9001:2000 in November 2003 as well as ISO 9001:2008 in November 2010, as further proof of its serious commitment to its customers to provide continuous improvement in all phases of operation. Recently, Sithipron started the process of earning the standard ISO17025 quality system aimed to certify the calibration services for all the instruments it represents. Please visit Sithiporn's website at www.sithiphorn.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 effect of the agreement on each of Eurocontrol and Xenemetrix, the future financial or operating performance of each of Eurocontrol, its projects and partnerships, 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 Eurocontrol 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.