Ecoland International Inc. Signs Letter of Intent to Acquire D&R Technology
October 01 2011 - 1:45PM
Ecoland International, Inc. (OTCBB:ECIT) today announced the
execution of a Letter of Intent with D&R Technology, Inc.,
("D&R") a world leading provider of automated tube processing
solutions for the automotive industry based in Mississauga,
Ontario. Pursuant to the terms of the letter of intent,
D&R's shareholders will receive share ownership in ECIT and
D&R's management team will assume operating and managerial
control upon completion of the acquisition. D&R
Technology Inc. is a recognized technology pioneer and market
leader in the area of engineering, design and the manufacturing of
automated tube processing solutions for the automotive industry. It
is emerging as one of the world's leading providers of automated
manufacturing solutions, which are used by three of the top ten
automotive part suppliers in the world. The Company also makes
custom-built tooling, provides process development, production
support, "on-going" service, preventive maintenance and more.
D&R is devoted to customer satisfaction through best in class
technology application. Developed partnerships with market leaders
enable D&R to collectively leverage their respective strengths
and deliver total solutions to their customers.
D&R Technology, Inc. applies a process driven approach to
equipment creation.
Today's automotive enterprises must continually increase their
productivity in order to compete effectively. This requires shorter
delivery times reduced operating costs, optimal utilization of
capacities and optimized material and information flow, which is
the continued primary focus D&R Technology, Inc. offers their
customers.
At the same time, total automation, defined previously as the
ultimate goal, is being superseded by hybrid, partially automated
and therefore flexible production systems. More than ever before,
automotive enterprises need companies like D&R to build
complete and partially automated solutions, designed quickly,
cost-effectively, reliably and ergonomically. For more information
please visit www.dnrtechnology.com
David Wallace, CEO of Ecoland International, states, "We are
truly excited about the recent proposed transaction as we feel
D&R is positioned for rapid revenue growth and strong
profitability as the Company's technology is clearly applicable to
a number of huge multi-billion markets, including automobile
manufacturing, aircraft, large construction equipment, die cutting
and other industries requiring robotic fabrication of precision
metal components." Wallace continues, "The main stimulus for this
acquisition was the tremendous growth potential of the D&R
brand and the strong demand for such products associated with this
brand. We also inherit the proven revenues, sales experience and
the existing business relationships of D&R."
The Letter of Intent is non-binding and final completion of the
acquisition is subject to, among other items, (i) the successful
completion of standard due diligence by the parties, (ii) the
negotiation, execution, and delivery of a definitive merger
agreement, and (iii) the approval of the transaction by the boards
of directors of both companies and by the stockholders of D&R
Technology.
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain
information included in this press release contains statements that
are forward-looking, such as statements relating to the future
anticipated direction of the Company, plans for future expansion,
various business development activities, planned capital
expenditures, future funding sources, anticipated sales growth,
potential contracts, and/or aspects of litigation. Such
forward-looking information involves important risks and
uncertainties that could significantly affect anticipated results
in the future, and, accordingly, such results may differ from those
expressed in any forward-looking statements made by, or on behalf
of, Ecoland International Inc. These risks and uncertainties
include, but are not limited to, those relating to development and
expansion activities, dependence on existing management, financing
activities, and domestic and global economic conditions.
Persons are encouraged to read our Annual Report on Form 10-K
for the year ended May 31, 2011 and our other documents
subsequently filed with the Securities and Exchange Commission for
meaningful cautionary language in respect of forward-looking
statements in this press release. Interested persons are able
to obtain free copies of filings containing information about the
Company at the SEC's internet site (http://www.sec.gov). The
Company assumes no obligation to update any of these
forward-looking statements.
CONTACT: Ecoland International, Inc.
David Wallace
Info@ecolandguano.com
http://www.ecolandguano.com