Incode Announces Design and Manufacturing Project With HiSan Incorporated Wednesday June 29, 11:33 am ET
MOUNT ARLINGTON, N.J., June 29 /PRNewswire-FirstCall/ -- Incode Technologies Corporation (OTC Bulletin Board: ICDT - News; the "Company") today announced the continuation of design and manufacturing projects between the Company's design subsidiary and HiSan Incorporated, a 50-50 joint venture of ITT Industries, Inc., and Sanoh Industrial Co., Ltd. ADVERTISEMENT
The projects are for the design and manufacturing of specialized equipment used in the manufacturing of innovative automotive products at HiSan's Findlay Plant. The Company expects its work will continue through the balance of 2005 and at least through all of 2006.
"These projects are exciting for us because it provides us with additional opportunities to provide equipment and services that are integral to the production of some of the automotive industries' leading brands," said Tony Warnecke, president of the Company's design subsidiary. "HiSan's commitment to quality and continuous improvement makes their choice to use our team for their technologically advanced manufacturing needs particularly satisfying. We are proud to have the continued opportunity to service their needs."
"Incode's design group, Warnecke Design Service, Inc., remains at the cutting edge of machine control and automation technology," added Kevin Kreisler, chairman of the Company and chairman and chief executive officer of GreenShift Corporation. "They have multiple areas of expertise with specialists in PLC programming, robotics, mechanical and electrical design, among other areas, and their projects contribute to the production of some pretty impressive companies in the automotive industry, including HiSan, Honda, and Ford, while generating financially material revenues for Incode."
With more than $6 million in annual revenue, the Company's design subsidiary, Warnecke Design Service, Inc., serves as a specialty metal manufacturer that produces equipment for an array of industries and provides design, development, manufacturing, installation and maintenance services.
HiSan is a 50-50 joint venture of ITT Industries and Sanoh Industrial Co., Ltd., and leverages a global network of industry-leading technology, engineering, and production to develop competitive high-performance fluid handling solutions. More information on HiSan is available online at http://www.hisan.com , and additional information on ITT and Sanoh is available online at http://www.itt.com and http://www.sanoh.com .
About Incode Technologies Corporation
Incode Technologies Corporation is a development stage company that was formed to acquire, develop and commercialize eBusinesses with integrated on- and offline operations. Incode's core focus during 2005 has since been the completion of its restructuring plans to best position the Company for growth. In addition to deploying the planned portal during 2005, Incode intends to acquire and integrate a series of strategically compatible companies during 2005.
Incode expects to complete a reincorporation merger with its wholly owned subsidiary, Inseq Corporation, and change its corporate brand identity to the same name in July 2005. The new company will be marketed under the brand Inseq, or International Secondary Commodities Exchange. Inseq's mission will be to facilitate the efficient utilization of primary and secondary commodities including metals, chemicals, fuels and plastics.
Incode is 70% owned by GreenShift Corporation (OTC Bulletin Board: GSHF - News), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and contribute to the resolution of environmental challenges.
Safe Harbor Statement
This press release contains statements, which may constitute "forward- looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Incode Technologies Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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Glad I have company...I've been talking to myself...just for validation...me, myself and I are quite happy right now!
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21m rev after merger-Upon the completion of this intended acquisition, Inseq's gross revenues and EBITDA are expected to be about $21 million and 2.1 million, respectively.
GreenShift Acquires Stake in Ethanol Oil Recovery Systems Thursday June 30, 8:00 am ET Breakthrough Green Technology Efficiently Converts Corn Oil Into Biodiesel Fuel
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