MISSISSAUGA, Ontario, Oct. 4, 2007 (PRIME NEWSWIRE) -- D Mecatronics Inc. (Pink Sheets:DMTN) is pleased to issue this shareholder update in regards to the pending sale of the company.
Bernardino Paolucci, Chief Executive Officer, states; "The initial offer which has been presented to D Mecatronics and is currently being considered by the Board of Directors is well-regarded and is significantly higher than the level of today's market price. The offer shall be reviewed at a Special Meeting of the Board of Directors which is convened for Tuesday, October 9, 2007. The recommendation of the board of directors shall be released to the shareholders on October 10, 2007 at the market open.
"Even though the current offer is higher than today's market valuation of our stock, I would like to assure investors that our Executive Management team is putting forth full efforts to maximize the buyout price."
Driving Seating Innovations in the Automotive Industry and D Mecatronics (DMTN)
Automotive seat engineering is becoming incredibly complex. With the constant pressure to reduce physical prototyping costs, shorten time-to-market and comply with regulations, engineers are under tremendous pressure to maintain a competitive edge. In response to customer demand for improved driving comfort and style, automotive manufacturers are developing many new seat styles and a variety of comfort and safety innovations that have significantly increased the complexity of seat systems. With all these innovations, engineers have to manage an ever-increasing amount of information and detail. This information must be accurately captured and easily shared amongst organizations to ensure seating systems meet styling requirements and are efficiently manufactured.
In order to help engineers address these challenges, D Mecatronics has developed powerful specialized engineering software solutions specifically intended for designing automotive seats and interior components. D Mecatronics seat environments, powered by our unique technology, are the first-ever seat design applications that are fully integrated into leading commercial 3D CAD software systems. With this software, D Mecatronics engineers can:
* Increase efficiency and speed of the seat engineering and prototyping process; * Efficiently capture all seat design data to create a complete digital product definition; * Support all facets of the seat engineering process from styling to production; * Provide early feedback on design and style changes; * Verify styling criteria are met; * Easily share seat data across the enterprise and with suppliers; * Reduce costs and time-to-market.
About D Mecatronics Inc.: (http://www.dmecatronics.com/)
D Mecatronics Inc. supplies 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.