EFIR news just out, looks ready to move again, imo.
Agreement Gives EGPI Rights for Exclusive Domestic and International Territories
SCOTTSDALE, AZ, Aug. 4, 2010 (Marketwire) --
SCOTTSDALE, AZ -- (Marketwire) -- 08/04/10 -- EGPI Firecreek, Inc. (OTCBB: EFIR) announced today that it has finalized a Dealer Agreement for specific territories with E-Views Safety Systems, Inc. (referred as "E-ViEWS").
As previously reported, EGPI Firecreek and E-ViEWS entered into a Stock Purchase Agreement that will provide for up to a 51% interest in E-ViEWS and exclusive distribution and sales rights in various states. EGPI Firecreek has initially solidified rights for the states of Alabama, Florida, Louisiana and North Carolina. They have also obtained international rights in the countries of Ireland and the United Kingdom.
These states were initially chosen because of EGPI, and their subsidiary Southern Atlantic Traffic Corporation's, established clientele, and abilities to penetrate these markets effectively and swiftly, with E-ViEWS patented technology and state-of-the-art products.
The state of Florida, in particular, is currently offering a 50 million dollar grant for the purpose of their Railroad Safety Technology Program, which is authorized under section 105 of the Rail Safety Improvement Act of 2008. The grant is being offered to support the execution of projects that have a public benefit of improved railroad safety and efficiency. Priority will be given to collaborative projects between carriers, railroad suppliers, and State and local governments (including public benefit corporations established to provide rail service) for projects that: a) Make train control technologies interoperable between railroad systems, or b) Accelerate the deployment of train control technology on high-risk corridors, such as those that have high volumes of hazardous materials shipments or over which commuter or passenger trains operate. EGPI is extremely confident that the technology and various systems that E-ViEWS offers both meet and exceed all expectations, as well as, the criteria set forth in the grant. The Company is processing the necessary applications and is abundantly confident that they have the ability to establish an initial footprint into this market.
Also, as previously announced, E-ViEWS and Siemens AG have developed a strategic alliance for the integration of the EVP System with Siemens intersection controller system. Siemens AG currently dominates 60% of the global market for intersection controller systems. This is expected to give E-ViEWS unprecedented market leverage as they seek to expand domestically and globally. Because of this, as well as, EGPI's specific strategic contacts abroad, the Company has obtained international rights in the countries of Ireland and the United Kingdom.
Dennis Alexander, EGPI's President, stated, "This Dealer Agreement is instrumental for our ability to aggressively establish a market in specific target regions which we know we can be effective. Ultimately, we are confident that this will lead to exponential sales for the EVP system and a broader market that will eventually include more states and international countries."
About EGPI Firecreek, Inc.
EGPI Firecreek, Inc.'s business and acquisition strategy is focused on both the vertical integration of enterprises serving the DOT Construction and Intelligent Traffic System markets alongside its wholly owned subsidiary M3, Lighting, Inc. (M3), and on oil and gas production with an emphasis on acquiring existing fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories, through its wholly owned subsidiary Energy Producers, Inc. (Energy Producers). EGPI Firecreek, Inc. is also looking to expand into Alternative energy sources as well as industries in the energy field. Other companies in the oil sector include Exxon Mobil, Pantina Oil and Gas Inc., Frontier Oil Inc. and Cabot Oil & Gas Inc.
About E-ViEWS Safety Systems, Inc.
E-ViEWS, through its network of affiliates, has transitioned from a research and development company, to an emerging growth provider of critical infrastructure technologies, focused on wireless intelligent traffic, traffic safety, dynamic LED signage, and communications systems. The Company's solutions based approach to solving complex public safety and homeland security problems, enables it to offer "cost-effective solutions" to municipalities, traffic engineers, railroad safety technology programs and metropolitan planning organizations worldwide.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of EGPI Firecreek, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond EPGI Firecreek Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in EGPI Firecreek, Inc.'s filings with the Securities and Exchange Commission.
CONTACT:
EGPI Firecreek, Inc.
Public Relations and Shareholder Information
Joe Vazquez
(754) 204-4549
infinityglobalconsulting@gmail.com
Source: Marketwire (August 4, 2010 - 8:43 AM EDT)
