SOURCE: QuadTech International, Inc.

May 09, 2006 16:05 ET

QuadTech International Upcoming Business Development Trip to China

VANCOUVER, BC -- (MARKET WIRE) -- May 9, 2006 -- QuadTech International, Inc. ("QuadTech") (OTC BB: QTII), a global provider of leading-edge technology solutions, announced today that its business development and technical teams will be heading to China in the coming days to demonstrate its mine-safety product, iPMine, to one of China's top 10 state-owned coal mining operation located in the province of Shanxi.

As part of the trip, the QuadTech team will stop in Shanghai to exchange technical knowledge with the mining operation's wholly owned technology group subsidiary which is based in Shanghai.

"QuadTech and its exclusive distributor in China have been working on this opportunity for several months," said John Meier, president and CEO of QuadTech. "We look forward to conclude this opportunity with a significant deal."

About the Mining and Mine-Safety Industries in China

China comprises more than 280,000 mining enterprises, of which 80,000 are state-owned. In February 2005, the Chinese State Administration of Work Safety mandated US$6.3 billion to be spent over the next three years to improve mine-safety at all state-owned coal mines. The Chinese government also is offering all mining enterprises, whether state-owned or privately-owned, a 15 percent tax credit incentive to upgrade mine-safety technologies. Mine-safety has been a major issue in the Chinese mining industry, with more than 6,000 miners killed in mining-related accidents in China last year; independent estimates say the real figure could be as high as 20,000.

About iPMine

iPMine is a real-time two-way wireless communications solution designed to significantly improve the safety of miners and equipment in virtually any size mine. iPMine tracks, monitors, and communicates with miners and equipment underground and above ground. Location information of both miners and equipment is collected and displayed live on one or more monitoring stations against a background of a mine's terrain map. iPMine's scalability and flexibility features make it ideal to be deployed in any size mine supporting multiple levels and/or sites. iPMine's redundant communications feature makes the system highly reliable to efficiently operate in the harsh mining environment.

About QuadTech International, Inc.

QuadTech International is a global provider of leading-edge technology solutions. QuadTech develops partnerships and/or acquires control in high-growth, small to medium sized companies and solutions that support its technology-driven business focus. QuadTech's management goal is to offer its shareholders an exceptional value through investments in a diversified portfolio of products serving multiple markets and industries. For more information, please visit www.quadtechint.com.

Legal Notice Regarding Forward-Looking Statements: Forward-looking statements in this news release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this news release that are not strictly historical statements, including without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the company and its strategic partners, constitute forward-looking statements. These forward-looking statements are not guarantees of the company's future performance and are subject to a number of risks and uncertainties that could cause the company's actual future results to differ materially from the forward-looking statements.

Contact Information

  • Contact:
    Panascope Capital
    818-882-7722