MISSISSAUGA, Ontario, Dec. 27, 2006 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Pink Sheets:DMTN) designs, manufactures and markets industrial and consumer products. Through independent subsidiaries, the company provides state-of-the-art automation technology solutions to enable customers to dramatically accelerate time-to-market and increase revenue.
D Mecatronics Inc. is pleased to announce it has entered into the final stages of negotiations with one of the world's largest autoparts manufacturers and a Fortune 500 company ranking among the Fortune Elite, regarding three significant new contracts exceeding approximately US$4 million.
Berardino Paolucci, President and Chief Executive Officer of D Mecatronics Inc., states: "As we demonstrate our ability to continue winning new business, even as older contracts are being delivered and completed, it enables us to raise projected and forecasted revenues for 2007."
As 2006 comes to an end, D Mecatronics Inc. is also pleased to announce the receipt of a purchase order for US$50,000. This brings total beginning revenues for 2007 to US$400,000.
"We are excited about our customers' interest in integrating our product solutions as a key component of their growth strategy, as our products will continue to provide them with the enterprise management, automation and operational efficiencies needed to achieve excellence on a global basis," said Dino Paolucci, Senior Vice President of infrastructure management at D Mecatronics Inc.
In 2007, management for D Mecatronics Inc. will also be focusing on aggressive growth and diversification through acquisitions, mergers and joint ventures in all areas of automated solutions used by the automotive industry. D Mecatronics Inc. is moving quickly to become a thriving and successful conglomerate that owns and controls a variety of companies in the multi-billion dollar automotive industry.
About D Mecatronics Inc.
D Mecatronics Inc. is a recognized technology pioneer and market leader in the area of Engineering, Design and the Manufacturing of automated solutions for the Automotive Industry and is rapidly becoming one of the world's leading providers of automated manufacturing solutions, which are used primarily by three of the top ten Tier 1 automotive part suppliers in the world. The Company also makes precision components and tooling using its own custom-built manufacturing systems, process knowledge and automation technology.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.