SOURCE: Implant Sciences

Implant Sciences

September 15, 2010 08:00 ET

Implant Sciences Concludes Successful Trade Mission to India

India Expected to Spend $10 Billion on Police Force Modernization and Explosives Detection in the Next Decade

WILMINGTON, MA--(Marketwire - September 15, 2010) -  Implant Sciences Corporation (OTCQB: IMSC) (PINKSHEETS: IMSC), a high technology supplier of systems and sensors for homeland security markets, today announced that it has successfully concluded an executive trade mission to India, hosted by the U.S. Chamber of Commerce. Implant Sciences has already made $6 million in sales to India prior to this trade mission and seeks to further expand sales into this critical and growing market.

Implant Sciences was one of a select few companies, and the only micro-cap company, invited to participate in the mission, based on the company's success selling its QS-H150™ handheld explosive trace detectors to defense and law enforcement agencies throughout India. The delegation met with leaders of India's homeland security and defense agencies, including the National Security Advisor, the Foreign Secretary, the Director General of the Indian Coast Guard, the Director General of the Central Reserve Police Force, and others.

In attendance from Implant Sciences were Glenn D. Bolduc, CEO, and Robert Liscouski, a member of the company's board of directors. Mr. Liscouski is also a Partner at Secure Strategy Group, a security advisory firm in New York City. Mr. Liscouski was appointed by President Bush as the first Assistant Secretary for Infrastructure Protection when the Department of Homeland Security was founded in 2003.

Glenn Bolduc, CEO of Implant Sciences, commented, "We are extremely pleased to have been invited to this trade mission and to have participated in meetings with ministers and officials at the highest levels of security and defense in the Indian government. We believe our explosive trace detection technology is the best in the world and will contribute towards enhancing the security of India and its citizens."

In a joint statement, Secretary of State Clinton and Foreign Minister Krishna stated their shared goal of advancing security and stability across Asia through "an open, balanced, and inclusive architecture of cooperation in the region." This statement was issued in a June meeting leading up to this trade mission, in anticipation of President Obama's highly anticipated November meeting in India with Prime Minister Manmohan Singh.

Admiral James Loy, Co-Chair of the U.S. delegation, commented, "We are pleased to have participated in this mission to India in support of the U.S. government's initiatives to assist the Indian government in its homeland security efforts and its fight against terrorism. We chose the companies, including Implant Sciences, which represent the best technologies the United States has developed post 9/11, to join this trade mission, to work with our Indian partners."

Admiral Loy, who led the trade mission, is Senior Counselor for The Cohen Group and former Deputy Secretary at DHS. Prior to that, Admiral Loy was the TSA Administrator and Commandant of the Coast Guard on 9/11. 

"Washington and New Delhi share a common interest in defending against terrorist networks, preventing cyber attacks and protecting critical infrastructure. We had fruitful discussions this week with the government of India and the private sector, discussing collaboration and best practices in homeland security, including the products offered by Implant Sciences. We have reaffirmed our partnership with India," said Co-Chair Lt. General Harry Raduege.

Lt. General Raduege, who co-led the trade mission, is Chairman of the Deloitte Center for Cyber Innovation and was previously Manager of the National Communication System during 9/11. General Raduege also led efforts to restore communications to the Pentagon and prioritized the restoration of communications in New York City following the September 11 terrorist attacks; upgraded presidential communications; and led the successful expansion of the department's Global Information Grid through a $1 billion transformational communications program.

Implant Sciences' Board Member, Mr. Liscouski, concluded, "We are delighted with Implant Sciences' penetration of India's homeland defense market, the fit of the company's products, and the many opportunities available to the company in this rapidly developing economy."

In the aftermath of the November 2008 attacks in Mumbai, the government of India has embarked on an ambitious plan to modernize and upgrade its homeland security apparatus including further integration of explosives detection equipment. The homeland security budget has been growing at an annual rate of 25% to fund the planned improvements in police and paramilitary forces, secure urban centers against terrorism and create a safe economic environment for the country as a whole. Now, more than ever, the government of India is looking to U.S. companies for their expertise and high-end technology to provide solutions to some of India's most urgent problems.

About Implant Sciences

Implant Sciences develops, manufactures and sells sophisticated sensors and systems for Security, Safety, and Defense (SS&D) markets. The Company has developed proprietary technologies used in its commercial explosive trace detection systems which ship to a growing number of locations domestically and internationally. For further details on the Company and its products, please visit the Company's website at www.implantsciences.com.

Safe Harbor Statement

This press release may contain certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks that our explosives detection products and technologies (including any new products we may develop) may not be accepted by governments or by other law enforcement agencies or commercial consumers of security products; economic, political and other risks associated with international sales and operations could adversely affect our sales; our business is subject to intense competition and rapid technological change; liability claims related to our products or our handling of hazardous materials could damage our reputation and have a material adverse effect on our financial results; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including our most recent Forms 10-K, 10-Q and 8-K. Such statements are based on management's current expectations and assumptions which could differ materially from the forward-looking statements.

Contact Information

  • Contact:

    Implant Sciences Corporation
    Company Contact:
    Glenn Bolduc
    CEO
    978-752-1700
    Email Contact

    or

    Investor Contact:
    Laurel Moody
    646-810-0608
    Email Contact