IPKL -- iPackets' Management Team Wraps Up Seven-Day Trip to China to Commence Work on Chinese Joint Venture and Product Certification
VANCOUVER, BC, Oct 03, 2006 (MARKET WIRE via COMTEX) -- iPackets International, Inc. ("iPackets") (PINKSHEETS: IPKL), a global developer and provider of wireless and communications solutions for the mine safety industry, announced today that the Company's management team has wrapped up a seven-day trip to China to lay the foundation of its Chinese Joint Venture ("JV") operation.
The management team conducted several meetings with its JV partners, China Coal Information Institute ("CCII") and Henan YongAn Investment Guarantee Co. ("YongAn") in the city of Jiaozuo, Henan province (China's second largest coal producing province). The team surveyed the land in Jiaozuo where the JV's manufacturing plant and operation will be based out of. The team also attended the Letter of Intent signing ceremony; a number of government officials from the city of Jiaozuo and Henan province were present. iPackets will post an edited version of the signing ceremony video on its web site in the next few days.
iPackets' Vice President of Engineering, Mr. Kouros Goodarzi, and Chief Technology Officer, Mr. Ara Bedrossian, conducted several technical meetings with CCII's engineering staff at their offices in Beijing. The meetings centered on exchanging iPMine technical information and the commencement of the iPMine product certification for the Chinese market.
"Our management team has visited China on several occasions in the past and by far this was the most intensive and productive visit ever," said Naiel P. Kanno, iPackets' President and CEO. "The dedication of the management team made it possible to accomplish all items on our agenda and established a framework for the JV."
About the Mining and Mine Safety Industries in China
China comprises more than 280,000 mining enterprises, of which 80,000 are state-owned. There are over 25,000 state-owned coal mines in China, of which over 700 are classified as large mines. Mine safety has been a major issue in the Chinese mining industry, with more than 6,000 miners killed in mining-related accidents in China last year; independent estimates say the real figure could be as high as 20,000. According to Chinese government statistics, more than 12.2 million people were employed as miners in 2005, and approximately 7.0 million of these were coal miners.
About China Coal Information Institute
Established in 1959 by the Chinese government, China Coal Information Institute is a national research organization with over 800 employees. CCII is part of the newly established National Institute for Occupational Safety and has played a leading role in the development of China's domestic coal industry and occupational safety. As the strongest segment of the CCII, the Energy and Safety Division provides information support and strategic suggestions to government authorities, undertakes market investigations, and provides consulting services to Chinese and international companies to expand their business in the areas of energy, safety, environment, and information technology. For more information, please visit www.coalinfo.net.cn/english.htm.
About Henan YongAn Investment Guarantee Co., Ltd.
YongAn is one of the first investment guarantee companies to be approved by the Chinese National Development and Reform Commission. With over 55 employees, YongAn's business scope is finance, investment guarantee, debenture guarantee, financial services and consultation related to investments in small to medium-sized enterprises.
About iPackets International, Inc. and iPMine
iPackets International is a developer and provider of wireless communications solutions for the global mine safety industry. iPMine, designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. Location information of both miners and equipment is collected and displayed live on one or more monitoring stations against a background of a mine's terrain map. iPMine's scalability and flexibility features make it ideal to be deployed in any size mine supporting multiple levels and/or sites. iPMine's redundant communications feature makes the system highly reliable to efficiently operate in the harsh mining environment. For more information, please visit www.ipackets.com.
Contact:
Allegiant Financial Group
1 (866) 824-8227
SOURCE: iPackets International, Inc.
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