LAS VEGAS, Feb. 3, 2009 (GLOBE NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPR) is pleased to announce that the Company has acquired the remaining 25% of the assets of MetaPower Canada, Ltd. giving the Company 100% ownership. MetaPower's acquisition of the subsidiary company is expected to draw a monthly revenue increase of approximately $225,000 and a monthly profit increase of as much as $25,000.
MetaPower Canada, Ltd provides software and consulting services in the Oil Sands industry in Northern Alberta, Canada, one of the fastest growing industrial segments in North America. The Company began operating on March 3, 2007 as a subsidiary of MetaPower International, Inc. MetaPower Canada generated $9,364,707 in sales and $1,771,140 in net profit in 2008. The Company generates monthly revenues through its consulting services and its UCoDA Business Process Management module maintenance fees.
"We're thrilled to have completed the final acquisition of MetaPower Canada. The Company's business has grown significantly in 2008 and we expect strong performance in the coming year. This acquisition is a key component as we continue to develop and market our safety management product to the hazardous process industries," stated Ken Allen, President of MetaPower International.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.