HIET - .91/.95
HiEnergy Signs Agreement for Marketing and Sales of CarBomb Finder(TM) in Saudi Arabia and 17 Countries in Middle East and Africa
Thursday August 21, 10:15 am ET
IRVINE, Calif., Aug. 21 /PRNewswire-FirstCall/ -- HiEnergy Technologies, Inc. (OTC Bulletin Board: HIET - News) today announced that on July 28, 2003 it signed an Exclusive International Distribution Agreement for its Beta-model CarBomb Finder(TM) with Electronic Equipment Marketing Company (EEMCO) based in Riyadh and London. EEMCO will have rights to distribute the CarBomb Finder(TM) to the following entities and countries: Kingdom of Saudi Arabia Land Forces, Signal Corps, RSAF, Ministry of Interior and Navy; the Middle-East countries of Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, UAE, Iraq, Yemen, Syria, Jordan, and Lebanon; and the North African countries of Sudan, Libya, Egypt, Morocco, Tunis, Algeria, and Mauritania. The agreement is subject to the approval of the HiEnergy Technologies' Board of Directors.
EEMCO is an ISO 9001 certified electronic company in Saudi Arabia, specializing in telecommunication equipment, turnkey systems, HF, VHF, UHF, Satellite, TV & Broadcast and Test & Measurements solutions since 1964.
"We are pleased that HiEnergy has invented this bomb detection technology," said EEMCO's General Manager, Meqbil Al Tamimi. "The CarBomb Finder(TM) will open a new era of tight security in a world which needs peace for development. The initial market survey indicates a large sales potential for both models, 302 for parked cars and 303 for the moving ones. We are optimistic that we will be able to market this product aggressively in the entire region," he said.
"HiEnergy has always considered the Middle East and North Africa to be promising markets for our anti-terrorism products," said Dr. Bogdan C. Maglich, Chairman, CEO and Chief Scientific Officer, HiEnergy Technologies, Inc. "This agreement should open these markets like never before, arming HiEnergy with local expertise and a trusted history of business interactions within the region," he said.
HiEnergy's CarBomb Finder(TM) is a new series of remote, clandestine detectors of bombs in trunks, seats and engines of parked or moving vehicles. The CarBomb Finder(TM) uses HiEnergy's patent pending stoichiometric explosives detection technology and is designed for use in police cars to decipher the chemical composition of the contents of other vehicles.
ABOUT EEMCO:
Electronic Equipment Marketing Company Limited (EEMCO) is a limited liability company wholly owned by Saudi nationals and registered in Riyadh, Saudi Arabia under Commercial Registration number 1010006945 dated 26 Shaban 1398H (corresponding to 29 August 1978) with a branch in Al-Khobar under Commercial Registration number 1010006945/001 and serial No. 16207.
It enjoys a wide range of customers, from Military, the Ministry of Defense & Aviation (MODA), to Government, the Ministry of Interior and the Ministry of Information, to the private sector, the Saudi Telecom Company, and industrial clients including Saudi ARAMCO and SCECO.
EEMCO represents a number of reputed companies (&OEM) in their fields such as:
Harris RF Communications
Thrane & Thrane
Pinnacle Systems
Tektronix
Fujikura
Consultronics
Flann Microwave
Bird Electronic Corp
Harris Broadcast Communications
Leitch Technology International
Panda Electronics
IFR, UK
Anritsu
Lloyd Instruments
Wavetek
L3 Communications
ABOUT HIENERGY TECHNOLOGIES, INC.
HiEnergy Technologies, Inc. has developed patent pending stoichiometric explosive detection technology that remotely determines the chemical formula of concealed substances, including explosives, biological weapons, and illegal drugs through barriers in a short period of time. 'Stoichiometric' means detection that deciphers the chemical formula of unknown substances. At the same time, SuperSenzor(TM) produces an image of the investigated object. HiEnergy is developing systems that have applications in several markets, including airport security screening, bio-weapons detection, landmine detection, contraband detection, and chemical and petrochemical industry applications. HiEnergy's technology has been developed through several years of research and under grants from the Department of Defense and the US Customs agency. The shares of the company are publicly traded under the symbol HIET.
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