MISSISSAUGA, Ontario, Sept. 21, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to announce that it has begun an expansion into Eastern Europe.
"Our company has entered into an expansion program and we are pleased to announce that we are going to be doing business in Eastern Europe," said Drasko Karanovic, D Mecatronics' Chief Operations Officer. "Eastern Europe is going to be a key component of our drive to $40 million sales in 2008. The industry in Europe is booming with robust growth in markets such as Poland, Slovakia, and Russia."
"Industry heavyweights have seen the immense upside of the European market. Toyota is in Russia, GM and Ford are in Poland, and Renault is in Romania," commented Mr. Karanovic. "We are following our existing clients into Europe and we intend to secure additional contracts in the foreseeable future. This billion-dollar market is being driven by the strong Russian economy which has been on a steady climb for the past five years."
Furthermore, Mr. Karanovic said, "Communist-era production methods are part of the past. We intend to move aggressively to accommodate the massive need for the overhaul of production plants all over the former eastern bloc. We can foresee continued upside in Eastern Bloc countries. Russia has only 167 vehicles per 1000 inhabitants. This is staggering considering that Russia has 142 million citizens."
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. is supplying components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries the Company offers sector and technology specific solutions to enable our customers to dramatically accelerate time-to-market and revenue.
To date, the Company's primary activities include design, build and installation of tube-related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend - Weld Systems for the automotive industry.
The D Mecatronics Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2180
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.