ARS Networks Acquires T&T Diesel Power; Company Adds $1.5 Million in Revenues; Expands Manufacturing and Engineering Base
WEDNESDAY, AUGUST 16, 2000 9:46:00 AM EST
CHAMPLAIN, N.Y., Aug 16, 2000 (BUSINESS WIRE) -- ARS Networks Inc. ARSN, whose first product is a state-of-the-art advance warning system for railway crossings, today announced that it has acquired its first wholly-owned subsidiary, T&T Diesel Power Ltd.
T&T Diesel provides bricks and mortar capabilities to ARS Networks and tangible value through revenue growth to shareholders.
ARS Networks President and Chief Executive Officer Sydney Harland commented, "T&T Power is a strong, successful company that has been in business for 20 years, has annual revenues of $1.5 million and is primed for growth. It has a roster of blue chip customers like Marconi MCONY, Bell Mobility BCX, Bell Canada BCE and Rogers AT&T Wireless RCI.B.- all leaders in the telecommunications sector. The acquisition is a vertical integration because T&T has applications that ARS Networks can use as a building block in the expansion of its network."
Harland continued, "T&T's existing key management will continue its responsibility for the subsidiary's operations, ensuring continuity for customers through their expertise and knowledge."
"We are confident that our first acquisition will be the catalyst that creates rapid growth and expansion of ARS Networks. In our 10QSB filing with the Securities and Exchange Commission in July of 1999, we stated that we intend to procure small, technically viable companies that will contribute to revenue, cash flows and the future growth of the Company. With the addition of T&T, we are excited that we have delivered on our first promise to shareholders."
ARS Networks' flagship product Crosslogix(TM) will take advantage of T&T's knowledge and skill in supplying customers with independent power sources. This is a key factor for remote locations and vital for urban centers as a back up to critical communications applications.
ARS Networks Inc. is a wireless communications technology company that designs, develops and commercializes safe, cost-effective, and reliable systems for the railway industry using patent-pending, remote sensing equipment. The Company's systems feature an open architecture platform that will offer railways and their freight customers unrivalled abilities to address public safety at level crossings, track cargo, communicate with dispatchers and shorten delivery times. The Company's platform provides a portal for a multitude of applications in real-time data collection, processing, monitoring and information analysis tailored to the railway industry.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Complete information about the Company and its products is available at the ARS Networks Web site, www.arsnetworks.com.
www2.marketwatch.com{D2A22A41-52FD-40A9-97E7-C8D7913D2927} |
