VANCOUVER, British Columbia, Oct. 17, 2002 (PRIMEZONE) -- A patented, handheld GPS unit developed by Inforetech Wireless Technology Inc. (OTCBB:WYRE) has reached the production stage as the technology transfer for manufacturing is near complete. This very important step allows Astro Instrumentation to proceed with manufacturing for January delivery.
Inforetech has finalized most technology transfer details with Astro Instrumentation (AI), the company that handles all manufacturing-related aspects of the Inforemer GPS golf system, therefore allowing the sales department to schedule delivery dates to interested Golf Courses. The first installations will be strategically placed in Europe, Australasia and North America to maximize exposure of the system.
Alex Doaga, Vice-President of Engineering at Inforetech, said, "This transfer means that Astro Instrumentation can begin preparations to assemble and build all the components of the system. We have our manufacturing schedule in place now and in January 2003, our GPS golf system will be ready to ship. The interest in our product remains at an all time high with the new technology that we will be introducing in the 'Inforemer.' It has been a long time coming but the wait will be worthwhile."
About Inforetech Wireless Technology Inc.
Inforetech Wireless Technology uses global positioning systems (GPS) combined with high-speed wireless communications technology to deliver information systems for the golf industry. The company's product, the first patented communications network that utilizes advanced Internet protocols to provide a wireless information system, enhances enjoyment, awareness and skill of the game, increases golf course profits and improves pace-of-play issues. The company's mission is to build and maintain a strong, viable position as an international supplier of GPS-based golf devices. Additional information can be obtained from the company's web site: www.inforetech.com.
About Astro Instrumentation LLC.
Astro Instrumentation is a world-class service provider for contract design, development, and manufacturing of cost-effective electro-mechanical devices. AI's facilities are located in Strongsville, Ohio (Cleveland Suburb). The company provides one-stop concept-to-completion services.
Astro is a ISO 9001 certified organization dedicated to offer a broad range of services to North American product development organizations.
Through engineering consulting on manufacturing processes and by dealing with proven suppliers to reduce material, labor, and overhead costs, their services can help customers to gain a competitive edge in an increasingly demanding marketplace. Corporate web site: www.astroinst.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: The Company's ability to raise finance; global and market conditions within the golf industry; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; pricing pressures and other competitive factors; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Other brands and names contained in this release are the property of their respective owners.