|
|  |
 |
Offshore Systems International Ltd. Teams with Nautronix Ltd. to Pursue Australian Opportunities
North Vancouver, British Columbia (September 26, 2001): John Jacobson, President and Chief Executive Officer of Offshore Systems International Ltd. (TSE: OSI) ("Offshore"), announced that Offshore has reached an agreement with Nautronix Ltd. of Fremantle, Western Australia to form a commercial team to pursue potential electronic chart business in Australia. Under the terms of the agreement, Nautronix and Offshore will combine their capabilities to provide a system solution targeted at the Royal Australian Navy's emerging electronic chart requirements.
"We're delighted to be working with Nautronix.," said Jacobson "Successful international marketing is about creating a winning team to pursue emerging opportunities. Nautronix understands the Royal Australian Navy's needs, and provides a solid in-country base to work from. Offshore will provide the highly specialized military electronic chart technology, and together we can offer a system solution that meets the customers needs." Jacobson went on to say "Nautronix and Offshore are both significant suppliers to the US Coast Guard Buoy Tender program, so we're not strangers when it comes to working on successful programs together."
Nautronix Ltd.
Nautronix Ltd., headquartered in Fremantle, Western Australia, and has 14 offices in 4 countries and employs some 300 people globally. The Technology Division is the core activity of the Nautronix Group. The Company services two major market segments - Offshore Oil and Gas and Defence. Technologies developed by Nautronix are integrated into a range of products and systems including Dynamic Positioning Systems, Vessel Control Systems, Underwater Acoustic Systems, Subsea Communication Systems and Submarine Ranging Systems. Nautronix is listed on the Australian Stock Exchange, and reported Revenues for the year ended June 2001 of $AUD93 million, or approximately $75 million (CDN).
Offshore Systems International Ltd.
Founded in 1977, Offshore designs, develops and markets the ECPINS (Electronic Chart Precise Integrated Navigation System) line of electronic chart navigation systems for ships. ECPINS helps to reduce the risk of navigation related incidents by giving bridge crews a precise, real-time display of their position, course and speed, against a background of fixed obstacles and other navigational hazards. The marine industry puts the highest priority on safety of operation and independent studies have shown that ECPINS can contribute significantly to reducing the risk of navigation related shipping incidents.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws including Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, OSI's analysis of opportunities in the acquisition and development of various project interests and other matters. These statements are made under the 'safe harbour' provisions of the Private Securities Litigation Reform Act of 1995 and, as such, involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Although Offshore Systems International believes the expectations reflected in such forward-look statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, uncertainties associated with contract negotiations, industry supply.
|
|
 |
 |
Jane Hayward
Investor Relations |
|
|
| Phone: (613) 287-0462 |
 |
|
| Toll-Free: (888) 880-9797 |
|
|
|
| Send an email |
|
|
|
|
|
|
| |
|
|
|
|
