Micro Identification Technologies Expands Distributor Responsibility With Biotek Sdn Bhd in Asia
SAN CLEMENTE, CA--(Marketwire - May 18, 2010) - Micro Identification Technologies, Inc. (OTCBB: MMTC) announced that it has expanded the contract of its Distributor, Biotek Sdn Bhd to train all MIT distributors in Asia on the operation and service of the MIT 1000 Rapid Microbial Identification System. Currently, Biotek has facilities in Malaysia and is responsible for sales and service in Malaysia and other ASEAN countries that include: Indonesia, Singapore, The Philippines, Thailand, Cambodia and others. MIT currently has Asian distributors in Vietnam, South Korea, Japan, India and Turkey and plans to add others later this year.
Biotek purchased a system in October, 2009 to use for sales promotions and has demonstrated the System to numerous potential customers throughout the ASEAN countries where sales are expected in the near term. MIT's distributor in Vietnam, Viet Ba, will be the first distributor to be trained by Biotek in June, 2010.
"Biotek launched an aggressive plan to promote the MIT 1000 System and with its new contract will help accelerate sales both inside and outside of its territory," stated John Ricardi, MIT's Executive Vice President and Chief Operating Officer. Mr. Ricardi further stated, "Biotek continues to be an excellent distributor for MIT and we are proud to have them as part of our team."
About Micro Identification Technologies:
MIT is a California-based public company that has developed and patented a rapid microbial identification (ID) System that revolutionizes the pathogenic bacteria ID process and can annually save thousands of lives and tens of millions of dollars. The System IDs bacteria in minutes, not days, and at a significant per test cost savings when compared to any conventional method. It does not rely on chemical or biological agents, conventional processing, fluorescent tags, gas chromatography or DNA analysis. The process is totally GREEN requiring only clean water and a sample of the unknown bacteria. Revenues for all rapid testing methods exceed $5 billion annually -- with food safety accounting for over $3 billion -- having expanded at a rate of 9.2 percent annually since 1998. Current growth projections are at 30 percent annually with test demands driven by major health, safety and homeland security issues. www.micro-identification.com.
MIT recently completed an extensive, almost one-year in duration, evaluation by the AOAC Research Institute which included independent rigorous testing and thorough reviews by the AOAC RI and its expert reviewers, including the U.S. Department of Agriculture. The AOAC RI Report is available from the Company. www.aoac.org
Further, MIT has demonstrated the ability to detect and identify, within several minutes, the microbes Escherichia coli, Listeria, Salmonella, Staphylococcus aureus, and other pathogenic bacteria. MIT recently performed over 300 tests for the identification of the aforementioned contaminants and scored 95% accuracy. The System can currently identify 23 species of bacteria and is easily expandable. The identification process has been verified by North American Science Associates, Inc. (NAMSA), an independent, internationally recognized biological testing laboratory. The NAMSA Test Report is available from the Company and, in MIT's opinion, demonstrates the accuracy, speed and cost effectiveness of the System over conventional processes. www.namsa.com
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within our filings with the Securities and Exchange Commission.