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OSI names Alan A. Vlemmiks as Director of Sales and Marketing, Navigation Systems
Vancouver, Canada -- Offshore Systems International Ltd. (OSI) (OTCBB: OFSYF, TSX: OSI) announced today that Alan Vlemmiks has joined the Company as Director of Sales and Marketing, Navigation Systems. Mr. Vlemmiks is a 28-year veteran of tactical sales and strategic business development.
"We are delighted to have someone of Alan’s experience and stature join OSI’s management team," said Mr. John Jacobson, Chief Executive Officer of OSI. "He has a long and successful background in technology sales to government and commercial customers. His mission at OSI is to build upon our leadership position in military navigation systems as that market broadens beyond early adoption."
Mr. Vlemmiks has an extensive network of decision-makers in government and industry gained from periods of residence in North America, Asia, Europe, Africa and the Middle East. As part of his most recent consulting work as President of Connaught Consulting International Inc., Mr. Vlemmiks served two years as Managing Director, International with Veridian Corporation in Washington DC. Prior to forming his own consulting firm in 1999, he enjoyed a thirteen year career with MacDonald Dettwiler and Associates Ltd. where he was the Director of Sales. Previously he held the position of Marketing Manager Military Systems with Canadian Marconi Company, Montreal. During an 11-year tenure abroad, Mr. Vlemmiks held various executive positions with Heli Orient Pte. (Singapore), Schreiner Corp. (Nigeria), Kuwait Airways, and Davies and Newman Corp. (Germany).
About ECPINS® and the Navigation Systems market
OSI’s ECPINS® product (Electronic Chart Precise Integrated Navigation System) is the world’s leading system for the safe navigation of ships. ECPINS® meets numerous international safety and quality standards and gives ship navigators a precise, real-time display of position and progress on electronic charts.
OSI estimates that there are approximately 2,600 vessels within NATO (North Atlantic Treaty Organisation) navies. Further, there are certain non-NATO countries that are potential customers for OSI navigation systems and which have naval fleets that total approximately 1,600 vessels.
To date, ECPINS-M (the military version) has been installed or contracted to be installed on 150 naval vessels among customers which include the Canadian Navy, Royal Danish Navy, U.S. Navy and Royal New Zealand Navy. In addition, ECPINS® has been selected, but not yet contracted, for installation by the Royal Australian Navy.
The Company estimates that the naval market opportunity for electronic charting systems is approximately Cdn $400 Million, exclusive of follow-on procurements and Coast Guard requirements. This market opportunity will materialize during the next several years, primarily driven by the need for NATO fleets to standardize their respective situational awareness tools across fleets.
OSI’s strategy is to win initial naval program procurements and successfully meet the customer’s expectations for delivery and performance. Creating strong relationships with the national navy and Defense agencies will increase the probability that ECPINS® becomes their standard for fleet-wide navigation systems, leading to significant fleet-wide sales and follow-on revenues. Over the course of time, ECPINS® will be expected to become the benchmark. To date this strategy has succeeded and led to fleet-wide installations with the navies of Canada, Denmark and New Zealand, and the U.S. Coast Guard.
In the commercial market for electronic chart systems, many commercial fleets in North America have purchased ECPINS® directly from the Company, and they have subsequently upgraded as new features and versions are developed. OSI is currently pursuing additional, strategic commercial customers for ECPINS®, and developing an appropriate strategy to engage this market more broadly.
About Offshore Systems International Limited
Offshore Systems International Ltd. (OSI) was founded in 1977 and is a leader in delivering products and systems for situational awareness. The company provides display systems and geo-spatial data within mission-critical applications for several defense and commercial customers. OSI conducts its operations through three business units: Geomatics (data production and distribution), Navigation Systems, and Applications (products and services for command and control systems). OSI's common shares are listed for trading on the Toronto Stock Exchange (TSX: OSI) and OTC Bulletin Board (OTCBB: OFSYF). For more information, visit www.osl.com.
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.
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Jane Hayward
Investor Relations |
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