World Am's Isotec Subsidiary Enters into New Distributorship Agreements to Expand Marketing of Its Security Systems in the Middle East Prime Zone - August 08, 2006 10:00 AM ET
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World Am, Inc. (OTCBB:WDAM) today reported that its Isotec, Inc. subsidiary has expanded its international marketing efforts, signing two new distributorship agreements to market its state-of-the-art security systems in the Middle East.
The new agreements are with Baidaq Security Systems, covering Jordan and Iraq, and Initial Security Systems, covering Saudi Arabia. These Middle Eastern distributors are in addition to ARIBA Celcom LLC, based in Dubai, which is now marketing Isotec systems throughout the United Arab Emirates.
Baidaq Security Systems is a Jordanian-based company that is focused on the market for ISOTEC products. The firm's principals have many years of experience in political and military affairs, and continue to maintain close ties with the government and the armed forces in both Jordan and Iraq. The company also has an engineering arm that is responsible for the design and installation of sophisticated security systems.
Initial Security Systems is a division of Initial Saudi Arabia Limited, a 100% Saudi-owned company formed 24 years ago as a joint venture with the internationally recognized Initial Services plc of England. Today the company is ISO-certified and a market leader in Saudi Arabia employing more than 3,000.
Initial Security Systems functions alongside another subsidiary company, Al-Sawari Civil Security Guard Co., providing a complete range of security services. Because of current Middle East unrest, both companies anticipate growth in their marketplaces.
Isotec develops, integrates and supplies passage control security products broadly categorized as Access Control, Weapons Control, or Materials Control Systems that rigorously control entry or exit of people and materials into and/or out of a facility, while reducing the need for security personnel. Applications of the technology have been delivered to the commercial, retail and government sectors. Isotec's extensive experience in this field allows it to provide high quality, code compliant, application-optimized solutions at the lowest cost in the shortest timeframe.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those, set forth in the World Am, Inc. Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.