SAN JOSE, Calif., Feb. 19, 2004 (PRIMEZONE) -- Maxus Technology Inc., a Medinex Systems, Inc. (OTCBB:MNXS) subsidiary, is pleased to announce that it has expanded its cooperation with MeWa Recycling Maschinen und Anlagenbau GmbH by signing an agreement for exclusive rights to the patented MeWa QZ technology for eWaste Processing for the Western Hemisphere. The MeWa QZ Technology for eWaste processing is a patented, efficient and low capital cost e-waste processing technology that provides high processing capacity at significantly lower operating cost than conventional e-waste processing technology. In cooperation with MeWa, the QZ technology has been adapted for the North and South American eWaste recycling markets where Maxus Technology Inc.'s eWaste volumes require scalability and flexibility. Additionally, the system has been adapted to meet Maxus's requirement for a portable eWaste recycling solution for their current eWaste clients in remote areas.
The agreement is in line with Maxus's strategy of expanding into Global markets through partnerships where the Company believes there is considerable demand for its eWaste solutions.
David Smith, Chief Executive of Maxus Technology Inc., said "At the time of our global expansion last year, we stated that we were looking at the application of complimentary eWaste technologies in the North and South American markets. This agreement with MeWa for the QZ recycling technology marks a significant step forward in that strategy. The competitive advantage provided by the MeWa QZ technology will now be offered to Fortune 1000 companies and our current clients in the North American eWaste market. Taken with the Maxus solutions on eWaste, this agreement should also provide a platform for Maxus to develop strategic partnerships as part of our overall expansion."
About Maxus
Maxus Technology Inc. was founded in 1994 as an asset recovery expert for the telecom industry and was an early pioneer in the pre-owned technology marketplace. In the last 10 years of serving customers worldwide, we have developed in-depth asset recovery and eWaste expertise, extensive supply-and sell-side networks. Maxus has an international sourcing network enabling us to secure in-demand products. Maxus customers have come to rely on us for providing low-cost, high-quality alternatives to new products. In a fragmented market crowded with small, unsophisticated operations, Maxus continues to remain a trusted and respected resource.
Maxus has its executive offices at 3019 - 16th Street NE, Calgary, Alberta, T2E 7K8 and its Toll Free telephone number is 800-514-8192. Medinex's ongoing business operations will be undertaken from this address. 18300 Sutter Boulevard, Morgan Hill, CA 95037 and its telephone number is 408-782-2005. The company website can be found at: www.Maxustech.com .
Safe Harbor
Information in this news release or on this website may contain statements about future expectations, plans, prospects or performance of Maxus Technology Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Maxus cautions you that any forward-looking information provided by or on behalf of Maxus is not a guarantee of future performance. None of the information on this website constitutes an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions on information contained in this website. Maxus Technology Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Maxus's control, in addition to those discussed in Maxus's press releases, public filings, and statements by Maxus's management, including, but not limited to, Maxus's estimate of the sufficiency of its existing capital resources, Maxus's ability to raise additional capital to fund future operations, Maxus's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Maxus's capability to be awarded contracts. . All such forward-looking statements are current only as of the date on which such statements were made. Maxus does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.