FOCS news: Fully reporting.
DD
(COMTEX) B: FiberChem to Merge With Internet/Communications Company;
B: FiberChem to Merge With Internet/Communications Company; ''The First Foot to
the Final Mile''
LAS VEGAS, Jul 29, 1999 (BUSINESS WIRE via COMTEX) -- FiberChem Inc.
(OTC BB:FOCS), announced that it has signed a letter of intent to merge
its operations with those of Intrex Data Communications Corp. (Intrex)
of Vancouver, British Columbia, and Dallas.
Intrex, a private company, provides proprietary wireless communications
systems, software and Internet data services. The combined entity,
tentatively named DecisionLink Incorporated, will focus the strengths
of both companies by using the Internet, wireless communications, and
sensor technology to provide asset management services to the oil and
gas; tank, pipeline andutility; transportation; environmental
monitoring; and marine industries on a fee-for-service basis.
DecisionLink will offer complete packaged solutions that provide
customers with "one-stop" shopping. FCI's sensor technology will
provide data produced remotely at the "First Foot." Intrex's
proprietary communications technology will interface that data through
a variety of networks known as the "Final Mile."
This provides timely information from what are often remote or mobile
sites and delivers it via the Internet to the customer's desktop giving
real-time data for critical business decisions. Intrex is an authorized
reseller of Orbcomm(TM) and Norcom(TM) satellite data communications
services and offers terrestrial Cellular Digital Packet Data (CDPD)
services through a marketing agreement with US Wireless Data Inc. (OTC
BB:USWDA).
Geoff Hewitt, chairman and chief executive officer of FiberChem, said,
"It has been our stated goal to develop non-regulated markets for our
technology, both directly and through merger and acquisition activity.
When we were approached by Intrex to supply sensors for one of their
projects, we quickly found we had common markets and broad areas of
mutual interest.
"This led to the conclusion that a merger would enable the combined
company to reach new markets with new technology using the fastest
growing communications medium, the Internet. Intrex brings a strong
technical management team to the combined company and both companies
own leading edge proprietary technology," Hewitt said.
"FCI also benefits from the combined company's focus on recurring
revenue streams rather than one-time capital equipment sales. The
markets for the combined company's services are believed to be very
large and global by nature."
David Peachey, chief executive officer of Intrex Data Communications,
said, "We believe integrating FCI's sensor technology with our wireless
communications services provides DecisionLink's customers with the
critical ability to monitor their assets, beyond terrestrial data
links, with real-time data delivered over the Internet.
"Customers will also benefit from Intrex's Data Hub. This technology
enables us to combine a customer's data from a variety of communication
sources such as satellites, land lines, radio systems and the Internet.
We then add value to the data and deliver it seamlessly and
homogeneously via the Internet or other media. To our customers, it
appears that the data came from a single source," Peachey said.
"The Data Hub also allows them to send messages, information, or
instructions to their remote assets. In an ever changing global
economy, immediate access to information has never been so important in
the decision making process. We are expecting this technology to
present significant growth opportunities to DecisionLink, its
stockholders, management and employees."
The combined company will have its headquarters in Las Vegas, as well
as operations in Dallas and sales offices initially in Texas, British
Columbia, Louisiana and Delaware.
The proposed merger is subject to, among other things, board of
directors and shareholder approvals, completion of due diligence,
negotiations of a definitive merger agreement, obtaining additional
financing for the combined businesses, reorganization of its capital
structure, and satisfaction of customary closing conditions. entrenet
Group LLC of Petaluma, Calif., has been engaged by Intrex as corporate
advisers in connection with the merger and the additional financing.
FiberChem develops, manufactures, markets and licenses fiber optic
chemical sensors (FOCS(R)) that produce continuous, real-time
information on environmental pollutants in the air, water and soil.
This news 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 performances and actual results could differ
materially. The statements in the news release regarding FCI's proposed
merger with Intrex, the combined entity's delivery of services over the
Internet and the size of the market for the combined company's
services, are forward-looking statements that involve risks and
uncertainties. These risks and uncertainties include FCI's ability to
complete the merger, 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 Securities and
Exchange Commission reports.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: Continental Capital & Equity Corp.
Scott A-B Gibson, 407/682-2001
www.insidewallstreet.com (Click on Special Situations)
e-mail: scott@insidewallstreet.com
WEB PAGE: businesswire.com
GEOGRAPHY: NEVADA CALIFORNIA TEXAS LOUISIANA DELAWARE
INDUSTRY CODE: CHEMICALS/PLASTICS
ENVIRONMENTAL
ENMED
COMPUTERS/ELECTRONICS
COMED
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