MISSISSAUGA, Ontario, Sept. 28, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to issue this shareholder update.
Berardino Paolucci, Chief Executive Officer of D Mecatronics, said; "I am pleased to update shareholders on the recent discussions with a European Investment Company who has shown an interest in our company. They have informed us that they are not interested in a merger but instead they are interested in the purchase of the company's assets."
Mr. Paolucci adds, "This European investment group has had extensive experience with the automotive sector in Europe and has been on the acquisition hunt for quite some time. They have indicated to us that they see tremendous upside to the business in Europe and with an eye on expansion into Asia. They have indicated to us a very clear understanding of where they would like to take the business and with there contacts have a very aggressive growth strategy in mind."
"The Board of Directors for D Mecatronics Inc. expects to have a formal response to this purchase offer within 72 hours, and we will inform all our shareholders at that time," stated Mr. Paolucci.
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. is supplying components, integrated systems and robotic modules to the world's top ten automotive suppliers. Through independent subsidiaries The Company offers sector and technology specific solutions to enable our customers to dramatically accelerate, time-to-market, and revenue.
To date, the Company's primary activities include design, build and installation of tube related automated systems used by automotive parts and assembly suppliers. The Company is currently offering products such as Seat Frame Systems, IP Tube systems and Integrated Bend -- Weld Systems for the automotive industry.
The D Mecatronics Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2180
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.