MISSISSAUGA, Ontario, March 5, 2007 (PRIME NEWSWIRE) -- D Mecatronics' (Pink Sheets:DMTN) President and CEO, Berardino Paolucci, today issued the following update on the company:
"D Mecatronics Inc. is a recognized technology pioneer and market leader in the area of engineering, designing and manufacturing automated solutions for the automotive industry and is rapidly becoming one of the world's leading providers of automated manufacturing solutions, which are used primarily by three of the top-ten Tier 1 automotive part suppliers in the world. The company also makes precision components and tooling using its own custom-built manufacturing systems, process knowledge and automation technology.
"D Mecatronics accomplished many significant goals in 2006, which we believe may set the foundation for continued progress in 2007 and beyond. We strengthened our financial condition, delivered on existing contracts, forged strategic alliances, expanded our business base, fortified the D Mecatronics brand, and added new management talent.
"Strengthening our financial position:
During 2006, we took meaningful steps to broaden our appeal to customers, partners, and investors. Revenues during the first nine months of this year represented a significant milestone in the company's history. We believe that these moves have enabled us to invest in our core technology and explore new applications for our offerings, while also hiring and retaining key personnel.
"With total sales for 2007 exceeding US$1,458,210 D Mecatronics Inc. is well ahead of forecast and is poised to surpass our sales projections for 2007 and in looking forward D Mecatronics expects to release another three contracts from top tier auto manufacturers in the next month.
"Furthermore, management has also entered into negotiations with several financing sources in Canada in order to complete a private placement in the context of the market in order to strategically infuse necessary capital for expansion to meet our customers' ever growing needs.
"Well-known references:
An exceptionally high standard of quality, excellent customer relationships and strong mutual trust are the building blocks of our company. This is a philosophy that our customers also appreciate. For over three decades well known automotive parts suppliers worldwide have been investing in D Mecatronics management team's automation solutions and in doing so D Mecatronics have gained a competitive edge.
"Our strengths -- Customers Advantages:
* Years of experience in developing and implementing sophisticated production solutions * Unique spectrum of technology all from one source * World-class leading edge automation technology * References from world-class companies * Worldwide on-site support for our customers
"We sincerely appreciate the support of our shareholders, employees, vendors, customers, and strategic alliances. We believe that we will continue to provide the responsible management that our shareholders have come to expect from D Mecatronics, and we look forward to providing updates as the year unfolds."
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Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.