Implant Sciences Appoints Suraj Tiwari as Regional Manager for India
Regional Manager to Further Expand Implant Sciences' Growing Market Share in Indian Subcontinent
Oct. 4, 2010 (Marketwire) --
WILMINGTON, MA -- (Marketwire) -- 10/04/10 -- Implant Sciences Corporation (PINKSHEETS: IMSC) (OTCQB: IMSC), a high technology supplier of systems and sensors for homeland security markets, today announced the appointment of Suryakant (Suraj) Tiwari as India Country Manager with additional responsibility for Bangladesh, Sri Lanka, and Nepal. To date, Implant Sciences has already received $6 million in orders from India. According to the Indian Defense Ministry, India is expected to spend an estimated $10 billion on homeland security weapons and equipment in the next two to three years.
Glenn Bolduc, CEO of Implant Sciences, commented, "We are thrilled to have Suraj join our team. Our shareholders recognize that the Indian opportunity is immense. By bringing Suraj on board, we are reinforcing our commitment to this critical and growing market. This is yet another of our deliberate, proactive steps to position ourselves to become the leader in the global explosives trace detection market."
Suraj Tiwari, based in Mumbai, India's commercial hub, is an electrical engineer and sales executive, knowledgeable in the tender process for selling to governmental entities. He is also experienced in selling to commercial clients through distribution channels as well as direct sales. Mr. Tiwari has built a long and successful track record as a liaison between India and the U.S. in commercial settings. He will support Implant Sciences' existing distribution channels as well as augment channels to capitalize on new sales opportunities, unifying sales, distribution, and service coverage for the entire Indian subcontinent.
"This is a tremendously exciting time for Implant Sciences to ramp up its sales effort in the Indian subcontinent," added Mr. Tiwari. "We have a fertile security market here coupled with dynamic growth and privatization. With Implant's industry leading Quantum Sniffer™ technology we can demonstrably enhance the security of our citizens while simultaneously pursuing expanded commercial opportunities in this hugely important region."
About Implant Sciences
Implant Sciences develops, manufactures and sells sophisticated sensors and systems for Security, Safety, and Defense (SS&D) markets. The Company has developed proprietary technologies used in its commercial explosive trace detection systems which ship to a growing number of locations domestically and internationally. For further details on the Company and its products, please visit the Company's website at www.implantsciences.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks that our explosives detection products and technologies (including any new products we may develop) may not be accepted by governments or by other law enforcement agencies or commercial consumers of security products; economic, political and other risks associated with international sales and operations could adversely affect our sales; our business is subject to intense competition and rapid technological change; liability claims related to our products or our handling of hazardous materials could damage our reputation and have a material adverse effect on our financial results; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including our most recent Forms 10-K, 10-Q and 8-K. Such statements are based on management's current expectations and assumptions which could differ materially from the forward-looking statements.
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Contact:
Implant Sciences Corporation
Company Contact:
Glenn Bolduc
CEO
978-752-1700
Email Contact
or
Investor Contact:
Laurel Moody
646-810-0608
Email Contact
Source: Marketwire (October 4, 2010 - 11:42 AM EDT)
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