FOCS: News
(COMTEX) B: FiberChem and Intrex Announce Joint Venture With Mainsbor
B: FiberChem and Intrex Announce Joint Venture With Mainsborne Communications
Inc.
LAS VEGAS, Jul 12, 2000 (BUSINESS WIRE) -- FiberChem Inc. (FCI) (OTCBB:FOCS)
announced that its merger partner, Intrex Data Communications Corp., has signed
a Memorandum of Understanding (MOU) with Mainsborne Communications Inc., of
Vancouver, British Columbia.
The MOU is expected to form the basis of an agreement to integrate Intrex's
proprietary and wireless communication products with Mainsborne's Automated
Meter Reading (AMR) modem and its spread spectrum Power Line Carrier (PLC)
products. The final agreement will become part of the business of DecisionLink,
the new name of the company following the planned merger of the businesses of
FiberChem and Intrex.
The Intrex/Mainsborne system, called AMRPowerLink, is being designed to monitor
and control remotely located electric, gas and water utility meters. Intrex will
apply its SensorFusion(TM) hardware, software and wireless communications
technologies as an interface between Mainsborne's PLC applications and Intrex's
Universal Data Network.
Intrex will generate revenue by transmitting data from utilities and their
customers via the ORBCOMM low-earth orbit satellite network to Intrex's
Communications Hub, where the data will be groomed and distributed via the
Internet to the utility. Intrex will have the exclusive marketing rights to the
resulting product.
Geoff Hewitt, chairman and CEO of FiberChem, said, "The signing of the MOU
continues the expansion of DecisionLink's corporate strategy of deploying
low-cost SensorFusion(TM) technology in high-volume markets, such as
AMRPowerLink, which will allow a wide range of applications in both residential
and industrial markets."
David Peachey, CEO of Intrex, said: "We believe significant opportunities are
being created domestically as a result of deregulation and internationally from
emerging nations. AMRPowerLink will extend the use of AMR technology to
utilities that have a large rural customer base.
"This can reduce the cost of data recovery, as well as assist in locating power
outages and optimize repair crew routing efficiencies. The technology will also
be particularly effective in emerging countries with poor communications
infrastructure and where electricity theft is a major problem for utilities."
Peter McDonald, chairman and CEO of Mainsborne, said: "The addition of a
wireless access solution to our power line carrier-based AMR and energy
management technology should open a number of new markets to us. In addition,
all of the potential applications for monitoring and control of end devices
through the power lines will be significantly enhanced by a global wireless
offering.
"We are very pleased to be partnering with Intrex to provide a new level of
integration between our technologies to the large rural North American and
foreign markets."
Intrex is a private company that provides proprietary Internet and
communications technology for communicating data to or from remote or mobile
assets on a real-time basis using wireless, satellite and cellular data systems.
Data is routed through Intrex's global network, which acts as a data gateway and
applications service provider allowing customers to monitor and control remote
or mobile assets such as gas wells, pipelines, compressors, storage tanks,
offshore platforms, or service vehicles directly from a desktop PC.
Intrex is a licensed reseller of the ORBCOMM Global L.P., the world's first
commercial provider of global low-Earth orbit (LEO) satellite data communication
services. ORBCOMM is owned by Teleglobe Inc. (NYSE:TGO; Toronto) and Orbital
Sciences Corp. (NYSE:ORB). Intrex also has communications agreements that
provide satellite services through Norcom Inc., as well as digital cellular
services.
Mainsborne is a private company based in Vancouver, Canada, with research and
development facilities in the United Kingdom. The company was formed in 1998
upon the successful acquisition of Thorn Security's Power Line Carrier assets.
Mainsborne provides semiconductor technology and application expertise based on
power line carrier communications to utilities and end device manufacturers
worldwide.
FiberChem Inc. develops, manufactures, markets and licenses fiber optic chemical
sensors that produce continuous, real-time information of environmental
pollutants in the air, water and soil. These technologies are currently used in
applications such as pipeline leak detection, above-ground storage tank
monitoring, oil production, water quality monitoring and industrial wastewater
compliance monitoring and control.
This release includes forward-looking statements relating to the company's
operations that are based on management's and third parties' current
expectations, estimates and projections. These statements are not guarantees of
future performances and actual results could differ materially. The statements
in this release regarding the installation of Intrex's systems in the utility
meter reading industry and revenues from such products, FCI's proposed business
combination with Intrex, the combined entity's delivery of services over the
Internet and the size of the market for the combined company's services are
forward-looking statements that involve risks and uncertainties. These risks and
uncertainties include FCI's ability to complete the combination; the combined
entity's ability to market its services using the two companies' technologies;
the timely development and acceptance of new products; the impact of competitive
products and pricing; the timely funding of customers' projects; customer
payments to the company; and other risks detailed from time to time in the
company's SEC reports. |
