SOURCE: Implant Sciences Corporation

Implant Sciences Corporation

June 06, 2013 07:00 ET

Implant Sciences Opens Office in Shanghai to Serve Growing China Security Market

Expanded International Presence Aimed at Increasing Sales

WILMINGTON, MA--(Marketwired - Jun 6, 2013) - Implant Sciences Corporation (OTCQB: IMSC), a high technology supplier of systems and sensors for homeland security and defense markets, today announced that it has opened a representative office in Shanghai, China. The new office, which will operate as American Implant Sciences, Shanghai Representative Office, better positions the Company to work closely with its current in-country distributors, identify additional new distributors, and enhance its understanding of the China market. Joseph Laskey, Area Vice President and General Manager, Asian Sales and Business Development, will lead the Shanghai office.

The office is located in the Changning district of Shanghai at Room 521, GIFC No. 1438, Hongqiao Road, Shanghai, China 200021. Shanghai was selected as the location given its status as a global city with influence in commerce, technology and transportation, and its proximity to Nanjing, the second-largest commercial center in China and Hangzhou, China's fourth largest metropolitan area.

"Having generated sales of $20 million to date, China is a very important market for Implant Sciences. We believe that having our own representative office in Shanghai to support our distribution network will help further increase our market share and revenues in the country," stated Implant Sciences' President and CEO, Glenn D. Bolduc.

"This is an opportune time for us to open a representative office. China has implemented a sweeping program to upgrade and outfit the security measures in new and expanded airports throughout the country. Given our track record of sales and a strong word of mouth reputation in the aviation security market in China, this is a significant opportunity for us," commented Dr. Darryl Jones, Vice President Sales and Marketing.

According to reports from the Civil Aviation Administration of China (CAAC), there are approximately 180 airports in China that are now being brought up to international standards, with more under construction. During China's 12th Five-Year Plan period, from 2011 to 2015, 56 new airports are scheduled to be built, 16 relocated and 91 expanded.

About Implant Sciences

Implant Sciences is the leader in next generation Explosives Trace Detection (ETD) technology. In January 2013, the Company became only the third ETD manufacturer, and the sole American-owned company, to receive product approval from the US Transportation Security Administration. 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 explosives and narcotics trace detection systems, which ship to a growing number of locations domestically and internationally. Implant Sciences' QS-H150 portable explosives trace detector has received Qualified Anti-Terrorism Technology Designation and, in addition to receiving TSA approval for air cargo screening, the Company's QS-B220 has also received a Developmental Testing & Evaluation (DT&E) Designation by the U.S. Department of Homeland Security under the Support Anti-terrorism by Fostering Effective Technology Act of 2002 (the SAFETY Act). 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 the Transportation Security Administration or by other U.S. or foreign government and 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; the risks that our markets are subject to technological change and that our success depends on our ability to develop and introduce new products; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including its 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