OTTAWA, July 24 /CNW Telbec/ - Plaintree Systems Inc. (the "Company" or
"Plaintree") today announced that its steel division, Triodetic
(www.triodetic.com), has been awarded the second phase of a contract for the
engineering, supply and supervision of installation of two industrial mining
dome enclosures in British Columbia, Canada, from one of the world's largest
mining companies. The first phase of the contract, awarded to Triodetic on
October 3, 2007, was for one dome with a value of $2,100,000 CND that is now
nearing on-site completion.
The second phase of the contract is for engineering, supply and
supervision of installation of 2 domes, having a value in excess of
$5 million CND. Plaintree expects that the first of the two additional domes
to be delivered in the 2008 calendar year and the second dome to be delivered
early during the 2009 calendar year.
"Triodetic has over 40 years of experience as a major supplier of
industrial mining enclosures and this contract is an excellent example of
Triodetic's capabilities" said Plaintree CEO David Watson. "The domes are each
105 meters (345 feet) in diameter and are installed on working stockpiles.
Each one of these domes can accommodate a Boeing 787 Dreamliner - the world's
largest aircraft. It is projects like this that help us maintain the Triodetic
name as the "go to people" for large difficult mining structures". David
Watson also stated that: "This contract is an excellent example of the value
creation to Plaintree's shareholders that will now be achieved as a result of
the Triodetic and Hypernetics acquisitions earlier this year".
About Plaintree Systems
Ottawa-based, Plaintree Systems Inc. (www.plaintree.com), founded in 1988
has three divisions. The first provides management services and specializes in
developing optical wireless communications equipment for the local area, wide
area, voice, Internet and security networks. The second, Hypernetics,
manufactures avionic components for many of the largest aerospace OEM's. The
third, Triodetic, is a design/build manufacturer of steel, aluminum and
stainless steel specialty structures.
Plaintree is publicly quoted in the U.S. on the OTC BB (PTEEF.OB), with
12,522,143 common shares (post-consolidation) and 18,325 class A preferred
This press release may include statements that are forward-looking and
based on current expectations. The actual results of the company may differ
materially from current expectations. The business of the company is subject
to many risks and uncertainties, including changes in markets for the
company's products, delays in product development and introduction to
manufacturing and intense competition. For a more detailed discussion of the
risks and uncertainties related to the company's business, please refer to
documents filed by the company on SEDAR (www.sedar.com) including the
Company's proxy circular dated January 21, 2008 in relation to its annual and
special meeting of shareholders held on March 18, 2008 and with the U.S.
Securities and Exchange Commission, including the Company's Form 20-F dated
September 28, 2007.
For further information:
For further information: Lynn Saunders, (613) 623-3434 ext 3002