News Release out on Millstreet - Revenues doubled and Profits set to Increase...
Millstreet Development Corp - News Release
Subsidiary begins broadcasting signals and makes Canadian
history
Millstreet Development Corp
MST
Shares issued 12061230
1997-06-19 close $0.52
Friday Jun 20 1997
News Release
Mr Lionel Kambeitz reports
Mr David DenHollander, a veteran communications manager
with international experience, was appointed general
manager of Precision Signal, which was established in 1996
to provide low frequency differential Global Positioning
System signals from towers on the Prairies.
Testing of the signal from the Watrous, Saskatchewan,
tower now is complete. As a result, the inaugural
commercial broadcast takes place Friday morning at a news
conference at the Millstreet display at the Farm Progress
Show.
This is a giant stop for Prairie producers because combining
the low-frequency signal broadcast from one of Precision's
towers with GPS equipment improves accuracy to one to
three metres from 100 metres. GPS technology uses
satellites to pinpoint an exact location in a field. By
combining soil data and the GPS location, farmers can
target and motor key farm inputs such as fertilizer,
herbicide, pesticide and seed. Precision farming is the way
of the future and it is here today.
Last year the company doubled revenues to $27.8 million
from 1996. Increasing profits this year will enhance
shareholder value.
Mr Kionel Kambeitz also reports
Precision Signal transmitted the first low frequency signal
from a tower on the Canadian prairies which will benefit
thousands of producers who utilize a constellation of 24
satellites to farm.
The signal from the tower near Watrous, about 200km north
of Regina, was received Friday at the Millstreet
Development display at the Western Canada Farm Progress
Show, the largest trade show for dryland farming techniques
and equipment in the country. Millstreet and
Communications Systems International of Calgary joined
forces last year to establish Precision Signal. Millstreet
owns two thirds of Precision Signal while Communications
Systems, a leader in satellite reception technology, owns
one third of the new venture.
Saskatchewan farmers now will be able to buy air time from
Precision Signal to be used for the harvest this year.
Two other towers are being erected by Precision Signal at
Basson, Alberta and near Winnipeg. Both are expected to be
operational by harvest this year as well.
The low frequency signals transmitted from the towers allow
satellite signals to be decoded and more accurately
pinpoint the work of combines and tractors using a
constellation of 24 satellites and Global Positioning System
(GPS) technology.
While GPS can help pinpoint any location on earth to within
100 metres, the low frequency signal from the towers makes
location accurate to within one metre.
By combining soil data and GPS location, farmers can be
more precise in targeting their farm inputs such as fertilizer,
herbicide, pesticides and even seed.
The inaugural broadcast by Precision Signal came almost
one year to the day Millstreet was named the distributor in
Western Canada for Rockwell's Vision System of GPS
products.
Also, the Saskatchewan Wheat Pool has signed an
agreement with Millstreet to sell Rockwell's Vision System
products at a dozen key locations on the Prairies. |
