PowerLinx Inc (PWNX)

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SeaView Establishes A Strategic Business Alliance With China Silian Group Co. Ltd
22 Jul 2003, 08:14am ET
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TIERRA VERDE, Fla.--(BUSINESS WIRE)--July 22, 2003--SeaView Video Technology, Inc. (OTCBB:SEVU), the market leader in Power Line Vision Systems (PLVS) is pleased to announce the Company has entered into a strategic business alliance with China Silian Group Co., Ltd (SIC Group), http://www.sicc.com.cn , of Chongqing, China. SIC Group is one of the 500 largest industrial enterprises in China, manufacturing a wide array of electrical instrument products for worldwide distribution to customers who include ABB Ltd. and Siemens AG. The alliance will intially establish three important business arrangements with more expected to be developed in the future. First, and of most significance, SIC Group has established a secured open ended credit line for the Company to procure production of the Company's products for its customers. Secondly, SIC Group will become the primary manufacturer for SeaView's PowerLine products along with several marine products. Not only will this allow SeaView to provide a consistent quality product since SIC Group factories are ISO 9001/9002 certified, the Company will significantly reduce our sourcing costs allowing our products to be competitively priced in the marketplace. Lastly, SeaView and SIC Group will conduct market research to investigate the marketability and distribution of SeaView's products in China which may result in a distribution arrangement.

Xiang Xiabo, President of SIC Group, stated, "We are anxious to develop the strategic business alliance between our two companies. SIC Group is commited to providing quality product and services to SeaView and its customers. We are also pleased that our Company is able to provide more attractive costing to allow SeaView and SIC to mutually grow our businesses."

"In the past six months a major portion of the Company's available capital has been invested in procuring inventory," commented Doug Bauer, Seaview CFO. "The securing of product on the more attractive terms will greatly enhance our ability to fulfill our customer needs as well as freeing up capital for additional marketing and research and development. All of these efforts should result in improved sales and profit for the Company."

Michael Ambler, SeaView President & COO added, "This alliance is the start of what we expect to be a long standing and prosperous business relationship for both our Companies. We expect to increase sales as a result of this alliance since our sales team will be able to sell our products with confidence at prices that are very attractive to our customers. Based on the economic development China has achieved in recent years, we are also confident SIC Group should find a marketplace for SeaView products in China sometime in the future."