National Automation Services, Inc.'s Subsidiary, Intecon, Inc., Awarded Contracts for Automation Controls Services in Mexico
Intecon to Open Tucson Office to Support Mining Operations LAS VEGAS, NV -- (MARKET WIRE) -- 06/02/08 -- National Automation Services, Inc. (www.n-a-s-inc.com) (PINKSHEETS: NASV), a public holding company for regional automation control companies, today announced that one of its subsidiaries, Intecon, Inc., has signed contracts with M3 Engineering, Tucson, AZ, for the automation of copper mining substations and water well sites at the Minera Penasquito in Zacatecas, Mexico.
One contract is for two 69 Kilovolt Substation Remote Terminal Units or RTUs. These units will monitor and control the main incoming power for the mine. The project involves the design, build, and startup of the RTUs. This project is on an expedited schedule and the units are expected to ship to Mexico at the end of June 08. The other contract is for twenty-two additional RTUs which will provide complete automation of the fresh water system providing quality fresh water to the mine. This contract is also on an expedited schedule with an expected ship date in Mid-July.
In describing the award of these contracts, Dayv Marlow, VP Sales of Intecon, Inc., stated: "The award of these contracts is indicative of the internal growth strategy that we have implemented at Intecon, after joining the NAS family of companies. With commodity prices at record highs, Intecon has targeted the mining industry generally and specifically the copper mining segment, as a major area of expansion for our company. As new mines are opened and old mines are reworked to enhance production, the use of automation control products and services are now in record demand. We will bring the same fervor that we brought to the water/wastewater market to capture our share of the mining market. This is the initial phases of Penasquito's mining project with many more contracts to follow. Intecon is opening an office in Tucson in part to support the mining effort in southern Arizona that accounts for about 78% of Arizona's copper production." Stay up-to-date with current events by joining National Automation Services' E-Mail Alert List. Join by clicking the following link: http://n-a-s-inc.ir.stockpr.com/information-request
ABOUT NATIONAL AUTOMATION SERVICES, INC. From Hand Production to Automation Before the Industrial Revolution, virtually all goods were made by hand. With the Industrial boom of the 1900s, the automation and controls industry was born to improve the quality and reduce the costs of tedious, repetitive tasks in the industrial plants. Immediately after World War II, computers were born, almost entirely for scientific purposes. By the early 60s, computers began to make their way rapidly into process control and production. Automated assembly lines took on more and more tasks, allowing for an increasing number of automated processes and adjustments. By eliminating tedious tasks usually performed by hand, the owners of a plant realized higher quality and more output which improved not only quality but competitiveness as well. Today's Markets Automation touches our lives without notice, from the food we eat, to the clothes we wear, to the building materials we use; and almost anything else we consume or come in contact with. Accordingly, the markets of National Automation Services, Inc. are vast. They include waste/water treatment, airport security systems, bottling plants, power plants, metals, mining, breweries, food processing, tire making, textiles, plastics, and virtually all production activities. Although there are a handful of very large automation and controls companies, the industry is highly fragmented with about 286 companies of modest size in the U.S. These companies are privately owned, local in nature, and total approximately $32 billion in annual gross sales. A handful of larger automation companies dominate the market as they offer national, as well as worldwide, support for the Corporate and Government clients they serve. In total the automation industry in the U.S. exceeds the $400 billion mark each year, largely serviced by this handful of firms. Where We Are Going NAS intends to build a nationwide company through acquisitions and internal growth in this fragmented market. We believe that our growing company will retain healthy margins and produce attractive increases in earnings per share during the period of this Plan. Our estimate is that we will immediately produce cost savings of 12-15% on each acquisition, thereby driving consolidated EBITDA and earnings per share. Furthermore, NAS, by utilizing the expertise of the group, the sharing of national contracts, and proven revenue enhancement techniques, has the goal of doubling the gross sales of each acquisition in the first 12 months of the date of each acquisition. The Company currently focuses on: Industrial Automation and Control. NAS has an experienced staff of electrical and control engineers, as well as project managers, with experience in industrial automation and controls. The Company's business is currently focused in Nevada, Arizona, and Utah, but it intends to expand through internal growth and acquisitions throughout the U.S. during 2008. Automation Manufacturing. The Company is a certified Underwriters Laboratories Panel fabrication facility. This nationally recognized regulatory body provides NAS with significant marketplace credibility for custom control panel assembly and fabrication to its clients. FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the automation controls industry, the positioning of NAS in the market, the ability to integrate acquired companies and technology, the ability to retain key employees, the ability to successfully combine product offerings and customer acceptance of combined products, general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems, and whether NAS can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. CONTACT INFORMATION National Automation Services, Inc. Bob Chance 2053 Pabco Henderson, NV, 89011 (702) 642-7720 Investor Relations Contact: David Donlin The Cervelle Group 238 N. Westmonte Drive Suite 210 Altamonte Springs, FL 32714 (407) 475 9859
2008-06-02 18:05:08 0375339 MARKETWIRE
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