iPackets International Targets the Multi-Billion Dollar Chinese Mine-Safety Industry to Accelerate Its Immediate Revenue Generation Strategy
VANCOUVER, BC -- (MARKET WIRE) -- December 08, 2005 -- iPackets International, Inc. (OTC: IPKL), a global provider of wireless data solutions for the network operator and enterprise markets, announced today that it's targeting the Chinese mine-safety industry with its iPMine comprehensive software solution.
iPMine is an advanced 2-way wireless solution for tracking, monitoring, and communicating with miners and equipment underground and above ground. iPMine provides the necessary tools to greatly improve all aspects of mine-safety by tracking, in real-time, the location of miners and equipment. iPMine was successfully demonstrated 1,800 feet (600 meters) below ground to one of the largest nickel and copper mining operations in China. iPackets has spent years researching the Chinese market while having made a number of site visits to build a comprehensive understanding of the market.
Mine-safety has been a major issue in the Chinese mining industry. More than 6,000 miners died in accidents in China last year, according to previously released Chinese government figures. Independent estimates say the real figure could be as high as 20,000. In March 2005, Chinese Premier Wen Jiabao said that the government will spend this year US$361 million on "safety technologies upgrading" at selected state-owned coal mines. In February 2005, the Chinese State Administration of Work Safety (SAWS) mandated US$6.3 billion to be spent over the next three years to improve mine-safety. According to SAWS, the US$6.3 billion will bring safety systems and equipment in line with national standards. SAWS said that China reported 80 per cent of the world's total coal mining-related deaths, although it produced only 35 percent of the world's coal.
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China's mining industry ranks third in the world. According to MBendi, China has about 80,000 state-owned mining enterprises and 200,000 collectively owned mines. Coal mining is by far the largest; there are over 25,000 coal mines in China of which 600 are state-owned. iPMine's revenue potential is significant in China. "iPackets is well positioned to capture a substantial market share of this multi-billion dollar industry over the next 36 months," said Naiel Kanno president & CEO of iPackets.
iPackets' iPMine go-to-market strategy is to become a dominant solution provider in wireless-based mine-safety and communication solutions, with a global presence. Our initial focus is China and we will expand into the rest of Asia, East Europe, Latin America, and other markets as the opportunities arise. To leverage our rapid growth, it is imperative to pursue direct and indirect sales channel strategy. iPackets is currently in the final discussions with a local Chinese partner to act as its exclusive master agent in China for the iPMine product.
"One of the most significant strengths of iPackets is its management team," said Mr. Kanno. "With 100+ years of combined experience in the high tech and software industry, the team has an extensive knowledge in building world-class organizations and the development of leading-edge wireless solutions. This experience provides iPackets with the vision and dedication necessary to rapidly grow its business and address customers' needs."
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