MIT's Distributor in Malaysia Commits to Additional MIT 1000 Systems
March 17 2011 - 8:00AM
Marketwired
Micro Imaging Technology, Inc. (PINKSHEETS: MMTC) announced on
October 21, 2009 that Biotek Sdn Bhd (Biotek) had purchased its
first MIT 1000 System to establish a demonstration laboratory. MIT
also appointed Biotek as its Distributor for Malaysia and other
Association of Southeast Asian Nations (ASEAN), including;
Indonesia, Singapore, The Philippines, Thailand, and Cambodia.
Several Biotek executives, including Director Weng Cheong Fong,
visited MIT's laboratories earlier this week for additional
training and during the session committed to accepting five MIT
1000 Systems by late summer and ten additional units early in
2012.
Biotek is a premier distributor in the food protection market
and distributes products that are complementary to the MIT 1000
Rapid Microbial Identification System. "Our sales strategy is to
demonstrate the features and benefits of this System in typical
applications enabling prospective clients to immediately understand
its value. We have found this approach produces much faster sales
than other traditional methods," stated Biotek's W.C. Fong -- who
further stated, "We are pleased to add the MIT 1000 System to our
product portfolio. Its rapid test time coupled with its low
operating cost is attractive to many of our customers."
"Adding Biotek to our distribution network provides MIT with
sales channels throughout the major countries in Asia. MIT already
has distributors in China, Taiwan, South Korea, Japan, and
Vietnam," stated Michael Brennan, MIT's Chairman. Further, "Biotek
has the capability of measuring and adding bacterial identities
that are indigenous to their region and have committed to expand
the ID capacity of the MIT 1000 System -- which is very exciting
for us."
About Biotek, Sdn, Bhd:
Biotek is registered with the Registrar of Companies in Malaysia
and with the Malaysian Ministry of Finance. It is fully owned by
Focus Biotech Sdn Bhd which has numerous customers in the research,
government and commercial sectors. The company's main focus is in
sales, marketing and distribution of research and scientific
products for the ASEAN countries (namely Malaysia, Singapore,
Thailand, Brunei, Indonesia, Philippines, Vietnam, Cambodia, Laos
and Myanmar). It is determined to be one of the best biotechnology
companies serving the ASEAN countries. Biotek has facilities in
Malaysia and Singapore that include demonstration, training and
application laboratories for life sciences, biotechnology and
clinical diagnostic applications. www.focusbiotech.com.my
About Micro Imaging Technology:
MIT is a California-based public company that has developed,
patented and now in production of a Rapid Microbial Identification
(ID) System that revolutionizes the pathogenic bacteria ID process
and can annually save thousands of lives and tens of millions of
health care dollars. The MIT 1000 System can ID bacteria in
minutes, not days, and at a significant per test cost savings when
compared to any conventional method. It does not rely on chemical
or biological agents, conventional processing, fluorescent tags,
gas chromatography or DNA analysis. The process is totally GREEN
requiring only clean water and a sample of the unknown bacteria.
Revenues for all rapid testing methods exceed $5 billion annually
-- with food safety accounting for over $3.5 billion which is
expected to exceed $4.7 billion by 2015 according to BCC Research.
In addition, the recently passed U.S. Food Safety Bill is expected
to increase the current annual growth rate (CAGR) to over 6.6
percent.
MIT previously completed an extensive evaluation by the AOAC
Research Institute which included rigorous independent testing and
thorough examinations by the AOAC RI and its expert reviewers,
including the U.S. Department of Agriculture. The AOAC RI Report is
available from the Company.
Further, MIT has demonstrated the ability to detect and
identify, within several minutes, the microbes Escherichia coli,
Listeria, Salmonella, Staphylococcus aureus, and other pathogenic
bacteria. MIT recently performed over 300 tests for the
identification of the aforementioned contaminants and scored 95%
accuracy. The System can currently identify 23 species of bacteria
and is easily expandable. The identification process has also been
verified by North American Science Associates, Inc. (NAMSA), an
independent and internationally recognized bioscience testing
laboratory. The NAMSA Test Report is available from the Company
and, in MIT's opinion, demonstrates the accuracy, speed and cost
effectiveness of the System over conventional processes. For
further information visit MIT's web site at:
www.micro-identification.com
This release contains statements that are forward-looking in
nature. Statements that are predictive in nature, that depend upon
or refer to future events or conditions or that include words such
as "expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions are forward-looking
statements. These statements are made based upon information
available to the Company as of the date of this release, and we
assume no obligation to update any such forward-looking statements.
These statements are not guarantees of future performance and
actual results could differ materially from our current
expectations. Factors that could cause or contribute to such
differences include, but are not limited to dependence on
suppliers; short product life cycles and reductions in unit selling
prices; delays in development or shipment of new products; lack of
market acceptance of our new products or services; inability to
continue to develop competitive new products and services on a
timely basis; introduction of new products or services by major
competitors; our ability to attract and retain qualified employees;
inability to expand our operations to support increased growth; and
declining economic conditions, including a recession. These and
other factors and risks associated with our business are discussed
from time to time within our filings with the Securities and
Exchange Commission.
CONTACT: Michael Brennan Chairman Email: Email Contact
Telephone: (805) 557-0614
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