RDXM big news out.B: Radix Marine Inc. Signs Co-Marketing Agreement with Norsco Mar
ne Inc.
B: Radix Marine Inc. Signs Co-Marketing Agreement with Norsco Marine Inc.
SILVERDALE, Wash., Sep 17, 2003 /PRNewswire-FirstCall via COMTEX/ -- Radix
Marine Inc. (OTC Bulletin Board: RDXM.OB), a marine vessel development company
specializing in homeland security and defense initiatives, today announced the
signing of a Co-Marketing Agreement with marine fabrication company, Norsco
Marine. Together, Radix and Norsco will jointly market a commercial product line
that includes 22-25 ft. boats and 29 ft. landing craft. The two companies
estimate annual sales of this craft should run between 150-200 units for each of
the hull length models.
"Radix's vision, coupled with Norsco's years of boat building experience,
creates a dynamic team," said Kathy Bright, Radix President and CEO. "The dual
use V-berth craft can be configured for both military and commercial
applications. Norsco Marine's exemplary history in the boat building industry is
undisputed. Their craftsmen have years of applicable experience building
aluminum watercraft as well as high performance hull forms for the military, law
enforcement, marine firefighting, oil spill response, and sport applications."
Recent Norsco customers include the states of California and Alaska, as well as
the United States Navy, who currently operate Norsco patrol boats to aid in
anti-terrorist efforts. Norsco Marine's highly skilled team is practiced in
building patrol craft to military standards, utility standards, and the special
requirements of multi-mission-equipped vessels. All Norsco Marine boats are
built to ABYC (American Boat & Yacht Council) standards, providing for rigid
quality of construction.
This co-marketing agreement pertains specifically to manned craft. Radix Marine
is also involved with the development of unmanned surface vehicles (USVs), small
remotely controlled unmanned boats that range in size for 6 to 50 feet. These
craft can be utilized in numerous security applications ranging from
surveillance to mine detection. Through its subsidiary, International Maritime
Platforms International (IMPII), Radix Marine is currently participating with
the United States Government in an Advanced Concept Technical Demonstration for
USVs. IMPII is performing on such a contract with the U.S. Navy in partnership
with two of the nation's leading U.S. defense contractors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements." In some cases, you can
identify forward-looking statements by terminology such as "may," "will,"
"should," "could," "expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "potential" or "continue" or the negative of such terms
and other comparable terminology. These forward-looking statements include,
without limitation, statements about our market opportunity, our strategies,
competition, expected activities and expenditures as we pursue our business
plan, and the adequacy of our available cash resources. Although we believe that
the expectations reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. Actual results may differ materially from the predictions
discussed in these forward-looking statements. The economic environment within
which we operate could materially affect our actual results. Additional factors
that could materially affect these forward-looking statements include, among
other things, (1) general economic and business conditions; (2) the success of
our restructuring; (3) our ability to raise additional capital through the
offering of equity securities; (4) competition; (5) our ability to continue to
build strategic relationships within the marine industry, particularly within
the domestic and international high-speed USV market; (6) required accounting
changes; (7) our relationship with the U.S. Government; (8) approval of our
products by the U.S. Navy; (9) national security, including acts of domestic and
international terrorism, and (10) other factors over which we have little or no
control.
About Radix Marine
Headquartered in Silverdale, Wash., Radix Marine, Inc. specializes in homeland
defense initiatives within the marine industry. The company's focus is on
opportunities with the U.S. Navy, Coast Guard, and Marine Corps, as well as the
international market for USVs. Radix Marine is publicly traded Over The Counter
Bulletin Board (OTCBB). For more information, please contact Radix Marine at
9119 Ridgetop Blvd., Suite 260, Silverdale, Wash. 98383; telephone 360-692-6446;
fax 360-692-0977.
SOURCE Radix Marine Inc.
CONTACT: David Cochran of Cochran Edwards and Partners, mobile,
+1-206-251-7007, or Shareholder Information Line, +1-360-692-
446, or
dcochran@radixmarine.com, for Radix Marine Inc.
URL: radixemarine.com
prnewswire.com
Copyright (C) 2003 PR Newswire. All rights reserved.
-0-
KEYWORD: Washington
INDUSTRY KEYWORD: ARO
OTC
ADV
MAR
SUBJECT CODE: LIC
*** end of story *** |
