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Gold/Mining/Energy : IDS Intelligent Detection Systems (ISD.TO) -- Ignore unavailable to you. Want to Upgrade?

To: David Michaud who wrote (89)	10/7/1999 11:02:00 AM
From: Frank Ferrari	Read Replies (2) \| Respond to of 149

Attention Business Editors: Canadian company capitalizes on upturn in resources sector IDS Intelligent Detection Systems signs +$4.5 million in international contracts TORONTO, Oct. 7 /CNW/ - Aggressive improvement in the international resources sector has solidified IDS Intelligent Detection Systems' (TSE: ISD) position as a leader in the geophysical marketplace. The Toronto-based company, a Canadian manufacturer of sophisticated detection devices and systems, has signed over $4.5 million CDN in Canadian and international geophysical contracts in the past 30 days. ``These recent contracts are a result of our company's 50-year history of reliable service to the resources sector,' says Dr. Mariusz Rybak, IDS chairman and CEO. ``By constantly developing new products and technologies, we are well positioned to capitalize on the positive changes currently taking place in this market.' Of significance are two contracts from the Geological Survey of India: for 14 CG-3 gravity meters, worth $872,000 CDN and 10 ENVI Magnetometers, worth $141,000 CDN. ``These contracts make the Geological Survey of India the single largest purchaser of these instruments,' says Rybak. ``This is a significant order in an industry where it's rare to sell more than one or two items on any given order.' The company previously announced a survey contract from Pemex, Mexico's state oil company worth $2.5 million CDN. ``Because our Pemex contract is for work in an important world scale exploration area,' says Rybak, ``we believe it could translate into extensions in other areas of Mexico in the future.' Other contracts include: - 1 Magnetometer and Global Positioning System to the Government of Thailand worth $145,000 CDN - 3D Magnetic Gradient Survey for IIT of Calgary, on behalf of a consortium of four major oil and gas companies, worth $500,000 CDN - 3D Magnetic Gradient Survey for IIT of Calgary, worth $325,000 CDN - Multi Client Survey for Chile, worth $130,000 CDN The above noted contracts will be delivered by IDS' Scintrex Earth Science Instrumentation division and its Survey & Exploration Technology Services division. IDS is a dynamic developer, manufacturer and marketer of sophisticated detection devices and systems. The company operates through seven business units: Analytical & Security products and solutions, IDS Power Control Systems, Scintrex Earth Science Instrumentation, Survey & Exploration Technology Services, IEC (Integration, Engineering and Consulting), ChemiCorp International and Caduceon Inc. Its more than 70 products range from drug and explosive detectors to nuclear safety control instruments, oil and gas exploration and developing technologies for industrial process control and point-of-care health analysis. -0- 10/07/1999