BAY CITY, Michigan & TORONTO, Oct. 6, 2004 (PRIMEZONE) -- Sciax Corp (Pink Sheets:SCXC) reported today that it has signed a letter of intent to acquire 50% of Nuresco Polymers.
Nuresco (www.nuresco.net) has developed an advanced polymer system with strength, high service temperature, chemical resistance and other properties that allow it to effectively compete for contracts in the defence and aeronautics industries. "We are eager to explore the opportunity of working with Nuresco," stated Ralph Manore, Vice President of Operations for Sciax. "It is expected that we may leverage Nuresco's contact base as a number of high level introductions will be made available to advance sales of Sciax's Wolf Pack into the defence industry," added Mr. Manore.
"We are impressed with Sciax's people and are excited by pursuing the excellent fit that the acquisition would provide for both our companies," said P. Henry Naskali, Vice-President Business Development of Nuresco Polymers. "As well as being able to advance sales of Sciax products, we are also intrigued by the prospect of including our high performance light weight polymers into existing Sciax product lines as well as those under development," stated Mr. Naskali.
About Sciax
Sciax is an emerging leader in defense imaging systems for law enforcement and military personnel engaged in counter-terrorism and other special security operations. Sciax America Inc. and Sciax Technology Inc. are wholly owned subsidiaries of Sciax Corp. (Pink Sheets:SCXC).
Sciax is the manufacturer of Wolf Pack under license from Eomax. Wolf Pack is the Company's tactical remote viewing system used by law enforcement and military organizations in North America and Europe. Customers include, military and law enforcement agencies of the US and German Governments, contraband interdiction units of Canada Customs, and LAPD-SWAT.
This release contains forward-looking statements with respect to the results of operations and business of Sciax Technology Inc., Sciax America Inc. and Ugomedia Interactive Corp. which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports. The Company intends that such statements about the Company's future expectations, including future revenues and enforcement and defense imaging system earnings, and all other forward looking statements be subject to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995.