EDMONTON, Sept. 1 /CNW/ - Matrikon (TSX:MTK) is pleased to announce that
it has acquired Integration Automation and Control Pty Ltd. (IAC), a private
Newcastle, Australia based company. Established in 2000, the 21 staff of IAC
provide automation and information systems services to the Hunter Valley coal
"The acquisition of IAC further establishes Matrikon's automation and
information systems expertise within Hunter Valley's coal industry," said Sam
Crisafulli, Matrikon's managing director for Asia-Pacific. "IAC's strong
management team adds bench strength to enable Matrikon to continue to expand
market share and take advantage of ongoing opportunities in the Hunter Valley.
As a similar business with unique clients, the IAC integration is expected to
be immediately accretive to both revenue and earnings."
IAC director Les Madden commented on the business combination: "We are
excited to join Matrikon to become the largest provider of automation and
information solutions to the coal industry in the Hunter Valley. We believe
the combination positions Matrikon for continued growth with an expanded
resource pool with complementary expertise and skill sets and strong,
long-term customer relationships."
The coal industry is a major component of Matrikon's Asia-Pacific
business and opportunities for continued growth in the Hunter Valley remain
Matrikon acquired IAC for AUD$1.65 million in cash for all issued and
outstanding shares of IAC plus the value of the net assets of the company on
September 1, 2009 (estimated at a further AUD$0.35 million). IAC generated
AUD$3.54 million of revenue during 2009.
Matrikon (www.matrikon.com) is a provider of industrial intelligence
solutions that transform production data into the knowledge needed to
anticipate problems and optimize operations - empowering and sustaining the
achievement of operational excellence. With offices throughout North America,
Australia, Europe and the Middle East, and clients who are industry leaders in
the process industries, power generation and mining, Matrikon's reach is
global. Matrikon has been empowering excellence since 1988, and is traded on
the Toronto Stock Exchange under the symbol MTK.
Matrikon is a registered trademark of Matrikon Inc.
Forward Looking Statements
In order to provide our investors with an understanding of our current
results and future prospects, our communications often include written or oral
forward-looking statements. This news release, our Management's Discussion and
Analysis (MD&A), and other materials filed with the Canadian securities
regulators contain statements that are forward-looking. These statements are
made pursuant to the "safe harbor" provisions of applicable Canadian
securities legislation. These statements represent Matrikon's intentions,
plans, expectations and beliefs and are based on our experience and our
assessment of historical and future trends and the application of key
assumptions relating to future events and circumstances. These statements may
include, but are not limited to, comments about: our objectives and priorities
for 2009 and beyond, our strategies, expectations for our financial condition,
the outlook for our operations, and external factors that may impact results,
including global economies and industry trends.
Forward-looking statements require assumptions and involve risks and
uncertainties related to our business and the general economic environment,
many beyond our control. There is significant risk that the predictions,
forecasts, conclusions or projections we make will not prove to be accurate
and that our actual results will be materially different from the targets,
expectations, estimates or intentions expressed in the forward-looking
statements. We caution readers of this news release and our MD&A not to place
undue reliance on our forward-looking statements. The future outcomes that
relate to forward-looking statements may be influenced by many factors,
including but not limited to: general economic conditions in the countries in
which we operate; currency fluctuations; market demand for our products and
services; our ability to execute projects and deliver solutions; our ability
to execute our strategic plans and to complete and integrate acquisitions; the
degree of competition in the geographic and business areas in which we
operate; our ability to attract and retain qualified employees and contain
payroll costs; our ability to contain expenses; technological changes and
research and development; the length of the sales cycle required to close
larger solution contracts; availability of financial resources to carry out
our strategy; our ability to protect our intellectual and intangible
properties; legal claims; critical accounting estimates; the possible effects
on our business of war or terrorist activities; disease or illness that
affects local, national or international economies; and disruptions to public
infrastructure, such as transportation, communications, power or water supply.
We caution that this list is not exhaustive of all possible factors.
Other factors could adversely affect our results. For more information,
please see the discussion on the principal risks that could affect our
results, beginning on page 52 of Matrikon's 2008 Annual Report.
The assumptions in this news release and MD&A pertaining to: our positive
outlook for the remainder of 2009, our belief that business opportunities
remain strong, and our expected effective tax rate to be in the range of 27%
to 32% include: global economic and political stability at current levels,
that certain opportunities in our pipeline will materialize as contracts, that
our clients will continue to invest in initiatives that support efficiency and
reduce costs, foreign exchange rates do not fluctuate excessively, and that we
will continue to be able to inspire, motivate and maintain our employee base
at a sufficient level to deliver on our objectives.
When relying on forward-looking statements to make decisions with respect
to Matrikon, investors should carefully consider these factors, as well as
other uncertainties and potential events, and the inherent uncertainty of
forward-looking statements. Unless required by law, we do not undertake to
update any forward-looking statement, whether written or oral, that may be
made from time to time by the company or on its behalf.
For further information:
For further information: Investor/Media Information: Nicole Sayler,
(780) 485-7238, email@example.com