EDMONTON, July 15 /CNW/ - Matrikon Inc. (TSX:MTK) today announced it has
entered into a joint entity agreement with India's SoftDEL Systems Pvt. Ltd.
As a result, a new corporation will be created that will support Matrikon's
product development initiatives and provide project consulting globally.
SoftDEL Systems is an international provider of product engineering
solutions with offices in India, Japan and the United States.
Anand Vishnubhotla, formerly the branch manager of Matrikon's Edmonton
office, will now be overseeing Matrikon's operations in India. With more than
11 years of experience at Matrikon, Vishnubhotla will provide expertise and
mentorship as the company builds its India business and trains new
"This agreement allows us to tap directly into India's deep labour pool
of technically strong, qualified engineers for deployment to Matrikon client
sites around the world, especially in areas with tight labour markets such as
Australia, the Middle East, northern Alberta and parts of Europe," said Nizar
J. Somji, Matrikon's president and CEO. "With access to a steady supply of
qualified engineers, we'll be able to better manage the effects of labour
shortages in certain markets. It's a strategic move to optimize our
operational efficiencies and growth opportunities."
Sunil Dalal, the Managing Director of the UniDEL Group, which founded
SoftDEL in 2000, was also excited about the possibilities presented by the new
"Matrikon is a leader in industrial software solutions, so we're very
pleased to be joining together with them. It's great for both of us, and I
hope we can leverage one another's expertise to make both companies stronger,"
"SoftDEL prides itself in providing faster, better and more
cost-effective solutions to help its customers achieve better value from their
product development efforts," said D. Viswanath, SoftDEL's CEO.
Matrikon is a leading provider of integrated industrial intelligence
solutions that enable manufacturing plants to achieve operational excellence
by transforming production data into knowledge to predict and prevent problems
and optimize operations. Matrikon's customers achieve agile operations through
the combination of external market and plant data to make informed,
intelligent decisions in real-time. With offices in major cities throughout
North America, Australia, Europe and the Middle East and a global client base
including industry leaders in a wide range of process industries, Matrikon's
reach is global.
Matrikon is a registered trademark of Matrikon Inc.
About SoftDEL Systems
SoftDEL is a product engineering solutions company focused on helping
customers gain speed and value from their product design & development
efforts. SoftDEL delivers to the best names in Industrial Automation, Building
Automation, Test & Measurement, and Medical Electronics across North America,
Japan and Europe. SoftDEL's domain led services, components and frameworks
offer total solutions that include a wide gamut of technology capabilities in
real time PC hosted applications, embedded systems, hardware & mechanical
design and systems & application engineering. SoftDEL has development centers
in Mumbai and Pune in India with sales operations in Mumbai, Houston and
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 and other material 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 2008 and beyond, strategies and targets,
expectations for our financial condition, and the outlook for our operations
and external factors that may impact results, including global economies and
Forward-looking statements require assumptions and involve risks and
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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 information circular 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 44 of Matrikon's 2007 Annual Report.
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: Nicole Sayler, Corporate Communications
Director, (780) 485-7238, firstname.lastname@example.org