iPackets International Enters the Untapped Multi-Billion Dollar Chinese Mine-Safety Industry by Signing an Exclusive Agreement
15 December 2005 - 12:06PM
PR Newswire (US)
VANCOUVER, British Columbia, Dec. 14 /PRNewswire-FirstCall/ --
iPackets International, Inc. ("iPackets") (OTC:IPKL), a global
developer and provider of a wide range of wireless and
communications solutions for selected enterprises, announced that
it has signed an exclusive distribution agreement for its iPMine
mine-safety product for the People's Republic of China and
Mongolia. Under the terms of the agreement, a consortium of
mainland Chinese businessmen have set-up a Beijing-based company
that will operate under the name iPackets International (China)
Inc. ("iPackets-China") and will be exclusively responsible for
selling, marketing, and deploying the iPMine product. The agreement
provides iPackets with a multi-million dollar revenue commitment
over a 3-year period. "This agreement represents an important
milestone to broaden and accelerate our customer and revenue
acquisition strategy," said Naiel Kanno, president and & CEO of
iPackets. "We are delighted that iPackets-China selected us and our
mine-safety wireless product offering after exhaustive research."
iPackets and iPackets-China are well positioned to capture a
substantial market share of this untapped multi-billion dollar
industry in China over the next 36 months. About the Mining and
Mine-Safety Industries in China There are over 280,000 mining
enterprises in China of which 80,000 are state-owned. Mine-safety
has been a major issue in the Chinese mining industry. More than
6,000 miners died in accidents in China last year; independent
estimates say the real figure could be as high as 20,000. 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 mines. About iPackets
International, Inc. iPackets International is a global developer
and provider of a wide range of wireless and communications
solutions for selected enterprises including mine-safety. iPackets'
solutions utilize a breakthrough wireless technology to manage data
packets, reliably and efficiently, over any wireless network and
virtually on any wireless device. For more information, please
visit http://www.ipackets.com/. Contact: Allegiant Financial Group
1 (866) 824 - 8227 Certain statements included in this press
release may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements relate to, among other things,
plans and timing for the introduction or enhancement of our
services and products, statements about future market conditions,
supply and demand conditions, and other expectations, intentions
and plans contained in this press release that are not historical
fact and involve risks and uncertainties. Our expectations
regarding future revenues depend upon our ability to develop and
supply products and services that meet defined specifications. When
used in this press release, the words "plan," "expect," "believe,"
and similar expressions generally identify forward-looking
statements. These statements reflect our current expectations.
DATASOURCE: iPackets International, Inc. CONTACT: Allegiant
Financial Group, +1-866-824-8227, for iPackets International, Inc.
Web site: http://www.ipackets.com/
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