More consolidation in the airborne/ground geophysics-contractor game. Here's the skivvy: ________ IDS Subsidiary Scintrex Limited Acquires SIAL Geosciences Inc.IDS Builds Strong Geophysics Sector Position with Strategic Acquisition TORONTO, Jan. 13 /PRNewswire/ -- IDS Intelligent Detection Systems Inc. (Toronto: ISD) announced today that its subsidiary company, Scintrex Limited, has entered into an agreement to acquire SIAL Geosciences Inc. SIAL Geosciences Inc., is an innovative geophysical services company specializing in airborne, land and marine surveys for civil, environmental, mining and petroleum exploration, and engineering. Based in Quebec, Canada, SIAL operates from offices in Canada, Argentina, Ecuador and Tunisia. The Company has more than 20 years of experience in geophysical surveying and has flown over 2.5 million line-kilometres of airborne geophysical surveys. "SIAL Geosciences regularly conducts world-scale projects that cover all aspects of airborne, ground and off-shore surveying. They provide end-to-end solutions -- from data gathering to comprehensive processing and interpretation capabilities," said Mariusz Rybak, Chairman and CEO, IDS. "Their unique combination of experience, innovations, and comprehensive solutions makes SIAL Geosciences a compelling value proposition for exploration companies around the world." SIAL Geosciences currently has 16 geophysicists and 15 highly specialized technicians operating from four offices. Revenue has averaged $5.8 million annually over the last 3 years, generating average annual pre-tax earnings of about $600,000 per year over the same period. "The SIAL Geosciences agreement and our recently announced agreements with Micro-g Solutions Inc. and Val d'Or Sagax are part of IDS's strategy to build critical mass in our geophysical business and to gain economies of scale," said Dr. Rybak. "The pressures of an extended downturn in the geophysical and exploration markets have driven extensive consolidation in the sector. Leveraging the marketing and distribution strengths of Scintrex enables IDS to participate in this consolidating trend through select acquisitions and to capture the synergies that are generated." This acquisition creates a unified, simplified and extensive global network of marketing, sales, and distribution channels. Research and development will also profit from the economies of scale generated by the new structure. The acquisition exemplifies the strategy of consolidation intended to heighten IDS's commanding market presence in this sector. The proposed acquisition of SIAL Geosciences Inc., is subject to various conditions, including the execution of definitive agreements, due diligence and regulatory approvals. About IDS: IDS is an innovative developer, manufacturer and marketer of proprietary sensory technology and communication systems. The company operates through eight business units: Analytical & Security products and solutions, IDS Power Control Systems, Scintrex Earth Science Instrumentation, Survey & Exploration Technology Services, IEC (Integration, Engineering and Consulting), ChemiCorp International and Caduceon Inc. Its more than 70 products range from drug and explosive detectors to nuclear safety control instruments, oil & gas explo ration instrumentation and services, and developing technologies for industrial process control and point-of-care health analysis. IDS's Internet initiative, GeoCommerce Inc., provides centralized online trading and information marketplaces for the global mining, exploration, and geophysics communities through: http://www.MineOnline.com and http://www.GeophysicsOnline.com. IDS operates worldwide in Canada, the US, France, UK, Australia and Brazil, and is publicly traded on The Toronto Stock Exchange (symbol: ISD). IDS's website is located at http://www.idsdetection.com. SOURCE IDS Intelligent Detection Systems Inc. CO: IDS Intelligent Detection Systems Inc.; Scintrex Limited; SIAL Geosciences Inc. ST: Ontario _______________________________________________________ List archive: http://www.mail-archive.com/[email protected]
