MIT Expands Distributor Responsibility in Asia
May 18 2010 - 6:00AM
Marketwired
Micro Identification Technologies, Inc. (OTCBB: MMTC) announced
that it has expanded the contract of its Distributor, Biotek Sdn
Bhd to train all MIT distributors in Asia on the operation and
service of the MIT 1000 Rapid Microbial Identification System.
Currently, Biotek has facilities in Malaysia and is responsible for
sales and service in Malaysia and other ASEAN countries that
include: Indonesia, Singapore, The Philippines, Thailand, Cambodia
and others. MIT currently has Asian distributors in Vietnam, South
Korea, Japan, India and Turkey and plans to add others later this
year.
Biotek purchased a system in October, 2009 to use for sales
promotions and has demonstrated the System to numerous potential
customers throughout the ASEAN countries where sales are expected
in the near term. MIT's distributor in Vietnam, Viet Ba, will be
the first distributor to be trained by Biotek in June, 2010.
"Biotek launched an aggressive plan to promote the MIT 1000
System and with its new contract will help accelerate sales both
inside and outside of its territory," stated John Ricardi, MIT's
Executive Vice President and Chief Operating Officer. Mr. Ricardi
further stated, "Biotek continues to be an excellent distributor
for MIT and we are proud to have them as part of our team."
About Micro Identification
Technologies:
MIT is a California-based public company that has developed and
patented 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 dollars. The System
IDs 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 billion
-- having expanded at a rate of 9.2 percent annually since 1998.
Current growth projections are at 30 percent annually with test
demands driven by major health, safety and homeland security
issues. www.micro-identification.com.
MIT recently completed an extensive, almost one-year in
duration, evaluation by the AOAC Research Institute which included
independent rigorous testing and thorough reviews by the AOAC RI
and its expert reviewers, including the U.S. Department of
Agriculture. The AOAC RI Report is available from the Company.
www.aoac.org
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 been
verified by North American Science Associates, Inc. (NAMSA), an
independent, internationally recognized biological 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.
www.namsa.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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