SAN DIEGO, Dec. 22, 2005 (PRIMEZONE) -- IPEX, Inc. (OTCBB:IPEX) (the "Company") today announced that Paul Rius has been appointed President of IPEX's telecommunications division effective Monday, December 19, 2005. Reporting to Company CEO Jerry Beckwith, he will manage the growth of its international wholesale telecom business, overseeing the division's operations and its implementation of other strategic initiatives.
From 1997-2004, Rius served as COO, Com Tech International/Nations Telecom, where he oversaw sales growth of $29M in 1997 to $103M in 2000 and improved margins through streamlined management and operations. Prior to that, he served as COO of Teltrust Communications, where he helped grow the company to $150M in sales.
"Paul's appointment strengthens our Management's capabilities in the wholesale telecom business," commented Beckwith. "We are confident his contributions will lead to higher sales growth and expanded margins for the Company's telecom division."
As announced in Forms 8-K filed earlier this week, the Company has begun to finalize its capital structure reorganization and will now be in a position to resume execution of its plan to grow telecom sales and profit margins, as well as application development for its RBGL technology. Its financial plan is also being finalized with management's recently initiated financing discussions with certain qualified investors.
About IPEX, Inc.
IPEX, Inc. operates a wholesale platform for international, IP-based telecom traffic and is developing a platform to terminate calls based on Voice over Internet Protocol (VoIP). The exchange carriers, primarily consisting of communications service providers, exchange traffic according to route quality and pricing criteria through an interactive, software-based system. IPEX's automated VoIP platform updates, routes and executes its capacity using software that also invoices and processes payments for its carriers and provides them dynamic access to routes and related information worldwide. The company is also developing digital imaging technology for use over the Internet and in wireless transmission that enhances the quality of traditional RGB (red, green, blue) still and video images, while reducing their file size. IPEX, Inc. is based in San Diego, California.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as IPEX, Inc. "expects," "should," "believes," "anticipates" or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the IPEX filings with the Securities and Exchange Commission, including IPEX annual report on Form 10-KSB, quarterly reports on Form 10-QSB and current reports on Form 8-K. These forward-looking statements are only made as of the date of this press release and IPEX does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.