DecisionLink Signs Memorandum of Understanding for Distribution in the Middle East and Central Asia
LAS VEGAS--(BUSINESS WIRE)--Dec. 12, 2000--DecisionLink Inc. (OTCBB:DLNK - news) announced today that it has entered into a Memorandum of Understanding with Ridlington Enterprises Limited of Tortola, British Virgin Islands, to form a joint venture company to identify a mass market for DecisionLink's products in the Middle East and Central Asia and to provide suitable distribution channels for those products.
The formation of the Joint Venture is subject to the parties reaching agreement on the terms of a definitive joint venture agreement that is expected to be in place by the end of January 2001.
Ridlington Enterprises Limited is part of the TRADCO Group of Companies which is the holding entity for a group of Saudi Arabian companies owned by Sheikh Khalid A. Alturki and Sons. The group is engaged in trading, contracting and manufacturing and has subsidiaries and associates in the USA, Canada, and Great Britain.
TRADCO's main interests include: Oil & gas installations (both on & offshore); petrochemical and industrial installations; power plants, substations, transmission lines and distribution systems; construction management and materials; electrical and mechanical contracting; electronics, including process controls, computer maintenance, batteries, telecommunications, mobile radios, instrumentation and paging systems; and general trading. The TRADCO group has completed numerous and extensive programs for Saudi Arabian Oil Co. (SAUDI ARAMCO) and other major international corporations.
Geoffrey Hewitt, CEO of DecisionLink, said, ``We have many FiberChem and Intrex products suitable and ready now for introduction into the Middle East and Central Asia markets. We are looking forward to working with Ridlington and the TRADCO group to introduce our SensorFusion(TM) products for markets related to oil and gas, electrical distribution and automatic meter reading, water monitoring, storage tanks, pipelines and propane.''
David Peachey, President of DecisionLink, said, ``We view the signing of this MOU with Ridlington as a landmark achievement in our plan to build our world-wide distribution system. Ridlington and the TRADCO group is a substantial joint venture partner. They are experienced, dedicated, and have the organizations in place to work with us to successfully market our systems and products. Since completing the merger of Intrex and FiberChem we have focused on building an infrastructure that will allow us to quickly enter the international market place. This agreement with Ridlington is a solid building block in our plan.''
Mr. Zahid Khawaja, CEO of Ridlington, said, ``As part of the TRADCO group we are venturing into new areas of interest to meet the changing demands of Saudi Arabian business life, and the increased opportunities throughout the Gulf.'' He went on to say, ``TRADCO's philosophy, and commitment to the marketplace, is simple - it believes in the continued strengthening of the Kingdom's industrial and commercial base through increased private enterprise and investment. In turn, TRADCO prides itself in having companies that offer their customers the highest quality and reliability of products, workmanship and service. TRADCO has over the years worked with virtually every government authority and major private corporations in the Kingdom, and can confidently claim that it has lived up to these principles. We are looking forward to working with DecisionLink in bringing new technology and quality products and services to our existing customers and to new markets throughout the Middle East and Central Asia.''
DecisionLink has developed a wide range of products for the monitoring of remote and mobile assets. The Company provides end-to-end solutions for remote asset monitoring in the oil and gas, utility, propane, and environmental industries. DecisionLink's SensorFusion(TM) is a high-volume, low-cost, resource management tool that provides high value ``Real-Time'' information for the monitoring and control of remote assets through the ubiquitous worldwide satellite communication networks of ORBCOMM and Norcom and other wireless mediums. SensorFusion(TM) is a new concept that integrates the sensing and messaging functions into one low-cost package, seamlessly communicating through the DecisionLink Data Network (DDN). Using TCP/IP as its base protocol, the Company has developed its technology to interface with many customer-supplied management information and resource planning systems. |
