Subj: FiberChem and Intrex Announce Joint Venture With...
Date: 7/12/00 3:18:16 AM Pacific Daylight Time
FiberChem and Intrex Announce Joint Venture With Mainsborne Communications Inc
LAS VEGAS--(BUSINESS WIRE)--July 12, 2000--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.
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