Big news for FOCS -- FiberChem and Intrex Complete Merger
Business Editors
LAS VEGAS--(BUSINESS WIRE)--Aug. 1, 2000--FiberChem Inc.
(OTCBB:FOCS) announced that FiberChem of Las Vegas and Intrex Data
Communications Corp. of Vancouver, B.C., and Dallas have completed the
combination of their businesses.
Geoff Hewitt, CEO of FiberChem, and David Peachey, CEO of Intrex,
confirmed that they were both satisfied that all terms of the merger
agreement had been satisfied, including the financing necessary to
quickly move forward with the combined company's business plan. RP&C
International of London assisted with the financing process.
The new board of directors of FiberChem will initially be
comprised of four FiberChem representatives Geoffrey Hewitt, chairman,
Byron Denenberg, Irv Gruverman and Walter Haemmerli; and four Intrex
representatives, including David Peachey, Peter Lagergren, Brian
O'Neil and Trevor Nelson. A ninth board member will be appointed
within the next month.
Geoff Hewitt will continue as CEO of FiberChem, while David
Peachey is now president and chief operating officer. Peter Lagergren
is president of the Communications Division and Tom Collins is
president of the Environmental Division. Brian O'Neil is executive
vice-president Corporate Development and Mel Pelley will continue as
CFO.
A FiberChem shareholders' meeting will be held early this fall to
seek approval of a change in the company's name to DecisionLink Inc.,
to change its trading symbol, and to increase its authorized share
capital. The company will continue to operate under the FiberChem name
and FOCS symbol until the changes are approved. Operations will remain
in both Las Vegas and Dallas.
FiberChem's Intrex Division provides proprietary Internet and
communications technology for transmitting data to or from remote or
mobile assets on a real-time basis using Orbcomm's and Norcom's
satellite services and other wireless data systems. Data is routed
through Intrex's global network which acts as a data gateway and
applications service provider.
This allows customers to monitor and control remote or mobile
assets such as gas wells, propane tanks, pipelines, compressors,
storage tanks, offshore platforms, or service vehicles directly from a
desktop PC.
FiberChem's Environmental Division develops, manufactures, markets
and licenses fiber optic chemical sensors that produce continuous,
real-time information on environmental pollutants in the air, water
and soil.
The FiberChem product line has been re-engineered to incorporate
Intrex-developed communications technology. These new products offer
the environmental monitoring community FiberChem's state-of-the-art
sensing technology.
This gives the customer all the benefits of satellite
communications, including dramatically reducing installation and
start-up costs, lowering communications charges, ubiquitous coverage
and the ability to receive data on a customer-specific Web site.
FiberChem's technologies are currently used in applications such
as propane tank level monitoring, compressors, pipeline leak
detection, aboveground 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 performance and actual results could differ
materially. Statements in this release include forward-looking
statements that involve risks and uncertainties. These risks and
uncertainties include: the ability to combine the two companies into a
unified entity, the combined entity's ability to market its services
using the two companies' technologies, the timely development and
acceptance of new products, final promulgation and enforcement of
regulations, 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.
--30--mtb/la* rj/la
CONTACT: Quest Capital
A Division of Continental Capital & Equity Corp.
Scott A-B Gibson, 407/862-5151
e-mail: scott@insidewallstreet.com
www.insidewallstreet.com
KEYWORD: NEVADA TEXAS INTERNATIONAL CANADA
INDUSTRY KEYWORD: INTERNET TELECOMMUNICATIONS ENVIRONMENT
MANAGEMENT CHANGES MERGERS/ACQ
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
Aug-01-2000 16:29 GMT
Symbols:
US;FOCS
Source BW Business Wire |
