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 Incorporates New Technology to Its Full Platform of Energy Dispersive X-Ray Fluorescence Analyzers
TORONTO, ONTARIO--(Marketwire - May 10, 2011) -
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES.
Eurocontrol Technics Inc. (TSX Venture:EUO), a company specializing in the development of authentication, certification and energy security technologies, through its wholly owned subsidiary, Xenemetrix Ltd.
("Xenemetrix"), today announced that it will be replacing its Silicon Lithium ("Si(Li)") liquid nitrogen cooled detector solution, with Silicon Drift Detector ("SDD") technology upgrades to its full suite of Energy Dispersive X-Ray Fluorescence ("EXDRF") analyzers.
Xenemetrix has an installed base of approximately 800 detector/analyzers worldwide, of which approximately 200 EXDRF analyzers are candidates for the upgrade to the new SDD technology. The upgrade will cost on average approximately US$27,000.
"Our existing customer base will benefit from the ability to upgrade to a much better and convenient solution without needing to buy a new system," commented Bruce Rowlands, President and CEO of Eurocontrol Technics. "Xenemetrix is continually looking at improving its EXDRF analyzers in order to better service its customers and remain competitive in the global EXDRF analyzers market," added Bruce Rowlands.
Previously, the Xenemetrix EXDRF laboratory product line were using a liquid nitrogen cooled Si(Li) detector for elemental analysis in for wide range of materials. The SDD upgrade being offered will deliver better performance with regard to accuracy, minimum detection limits and measurement times.
Xenemetrix has worked to achieve 30% to 50% better elemental analysis results in the minimum detection limit with the SDD detector compared to the Si(Li) detectors.
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 EXDRF analyzers are the detection protocol used to detect the presence of the markers in hydrocarbons.
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 with a wholly-owned subsidiary in Texas, USA 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.
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 new technology on future financial or operating performance of each of Eurocontrol and its partnerships, the anticipated benefit of the new technology for Eurocontrol's clients, the results of analysis conducted 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.