MDII - MDI and Almana Networks Partner to Service Rapidly Growing Security Market in Qatar
Joint Venture Scheduled to Deliver $1M in Orders to MDI During First Month of Operation
May 3, 2007 12:49:00 PM
Copyright Business Wire 2007
SAN ANTONIO--(BUSINESS WIRE)--
MDI, Inc. (NASDAQ:MDII), the leading provider of Unified Technology(TM) solutions for the security industry, today announced that it has entered into a joint venture agreement with Doha, Qatar based Almana Networks. The agreement establishes a joint venture between the two parties focused on providing unified physical and electronic security solutions, along with converged network infrastructures, to existing organizations and new construction projects in the rapidly growing country of Qatar.
The Almana Group is one of the largest business organizations in the country and is a significant contributor to its continued economic development and financial infrastructure. Its subsidiary business divisions include oil and natural gas, general contracting, steel production, transportation, retail, restaurants, information technology, financial services, real estate, engineering, HVAC systems, automobiles and marine services.
The new venture is currently finalizing negotiations on several security projects in Qatar, two of which it believes it will be awarded during the month of May. These multi-million dollar comprehensive projects include over one million dollars in products and services from MDI when finalized. They include securing new construction developments for a global leader in the petroleum and natural gas industry and securing regional holdings for one of the most prestigious hotel chains in the world.
"Almana Networks and MDI are both proven leaders in their respective countries," stated Swaraj Kumar, Chief Executive Officer of Almana Networks. "MDI's technology offerings and security expertise will play a critical role in the growth strategy for Almana Networks and I look forward to working with the MDI Team on this new venture to provide state-of-the-art automated security solutions via converged networks to our valued customers in Qatar," he added.
Among the wealthiest countries in the world, Qatar is experiencing phenomenal growth in both oil and non-oil related business sectors. Amid the current economic boom, commercial and industrial construction is at an all time high. In the city of Doha alone, there are currently over 50 hi-rise building sites under construction. The country is well on its way to becoming the world's top petrochemicals producer and is diversifying into many new industries including steel, concrete and aluminum production.
High economic and demographic growth and the changing international security environment have made Qatar more security-conscious. There has been a noticeable increase in the need for security products and services for both private and government establishments, thus the demand for best-in-class security solutions is at an all time high. Both are upgrading the capabilities of existing security systems as well as adding security to new projects in order to keep ahead of changing global security situations. Consumers across the Gulf States Region hold the security sector expertise of the United States in high regard.
The Joint Venture between MDI and Almana Networks was designed to provide customized solutions to the direct needs of Qatar. Together, the strength of the venture combines the following unique points:
-- A deep understanding of the political and economic structure
of Qatar and the Gulf States Region
-- A global business network built on over forty years of
business to business commerce across multiple market verticals
-- The existence of immediate multi-year, multi-million dollar
business opportunities in Qatar
-- A broad portfolio of information technology and business
process services including computer networks, technology
infrastructures, databases and software development
-- Expertise in Internet security, information assurance and
computer network security via partnership with SureSEC, Ltd.
-- Over 25 years of experience in securing classified,
high-security facilities as the solution of choice for the
United States Government
-- Unification of the command & control process within a global
security enterprise including access control, video
surveillance, intrusion detection, biometrics, detection
sensors and third party security point products
-- A professional services organization with complete program
management capabilities and the security industry expertise
necessary to successfully deploy complex security strategies
worldwide.
"As announced last year, MDI has been focusing on several opportunities in the Middle East with its new Global Systems Solutions subsidiary," stated J. Collier Sparks, President and CEO of MDI, Inc. "This joint venture is one result of that focus. By partnering with one of the most successful and respected business organizations in Qatar, MDI is now positioned to capitalize on a multi-billion dollar market that many will strive for but few will succeed in due to the vast barriers to entry. This is a tremendous milestone for the company and its stakeholders and I am proud that MDI has been selected as Almana's exclusive physical solution provider in the region," he concluded.
About The Almana Group
The Almana Group is one of the largest business organizations in Qatar. Since its inception in 1960, it has grown in strength and size and in the process has made significant contributions to the very infrastructure of Qatar. Today, with over 1500 employees, the group boasts a large and diversified portfolio and is poised to participate successfully in the ongoing economic growth and development of the country. Through re-investment of profits, recruitment of the highest skilled managers and the creation of joint ventures with major international companies, the group is able to provide professional services to overseas companies with interests in building their business in Qatar and the Arabian Gulf States. For more information about The Almana Group, please visit www.almanagroup.com.
About SureSEC, Ltd.
SureSEC Ltd. is a global leader in providing Internet security solutions, information security research and professional consulting. The company's security experts have pioneered the field of security and vulnerability research and work closely with many of the world's leading software companies and service providers to discover critical vulnerabilities in their products and provide risk mitigation strategies. SureSEC also consults with numerous open source software companies and well-known Linux providers to deliver source code auditing and technical expertise that is un-matched in the industry. The SureSEC security research team is located across Europe, the United States and the Middle East. For more information on the company and its capabilities, please visit www.suresec.org.
About MDI, Inc.
MDI (NASDAQ:MDII) manufactures security technology solutions designed to protect people, facilities and assets. These solutions are unified by ONE Technology. ONE Technology unifies security point products, systems and subsystems into a common management platform. Far beyond the Integrated Security Management software promoted by industry competitors, ONE delivers an open architecture environment that adapts each individual application and device into its platform -- promoting global collaboration as ONE system. The MDI product family currently protects over 8 million alarm points across the globe for many of the world's most recognized organizations including Microsoft, MBNA Worldwide, John Deere, Pepsi, FBI, TSA, Fidelity Investments, Bureau of Engraving & Printing, American Express, Department of Defense, IRS, Disney, Smithsonian Institution and MIT to name a few. The company has received numerous industry awards for their security technology including Frost & Sullivan's Security System Technology Leadership Award and the Security Industry Association's Best Integrated Product Award for 2006. For more information on MDI or its diversified line of products and professional services, please visit www.mdisecure.com.
Forward-Looking and Cautionary Statements
Except for historical information and discussions contained herein, certain statements included in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this document, other than statements of historical fact, that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements represent our reasonable judgment on the future based on various factors and using numerous assumptions and are subject to known and unknown risks, uncertainties and other factors that could cause our actual results and financial position to differ materially from those contemplated by the statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "project," "forecast," "plan," "may," "will," "should," "expect" and other words of similar meaning. Investors should not rely on forward-looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company's expectation. Additional information concerning risk factors is contained from time to time in the Company's SEC filings. The Company expressly disclaims any obligation to update the information contained in this release.
Source: MDI, Inc.
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MDI
Inc.
San Antonio
Investor Relations Contact:
Richard A. Larsen
210-582-2664
Richard.Larsen@mdisecure.com
or
Media Contact:
Michael M. Garcia
210-477-5400
Mike.Garcia@mdisecure.com
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