CHANDLER, Ariz., Oct. 24, 2011 (GLOBE NEWSWIRE) -- Ecoland International, Inc. (OTCBB:ECIT) and D&R Technology Inc. announced today that further to its press release dated October 19, 2011 both Ecoland and D&R boards (collectively the boards) have now approved a definitive close date of November 4, 2011.
Pursuant to the share exchange agreement D&R's shareholders will receive a majority share ownership in ECIT and it is anticipated that a name change will be made reflecting this change in majority share ownership. Also according to the share exchange agreement D&R's management team will assume operating and managerial control upon completion of the acquisition.
David Wallace, CEO of Ecoland International, states, "This transaction offers significant value for Ecoland shareholders by providing compelling new opportunities in the ever growing robotics industry." Wallace continues, "We are pleased to introduce to our shareholders a Management team that have been industry pioneers since 1976. D&R Technology Inc. is one of the world's foremost providers in designing, building and the installation of tube related automated systems and is dedicated to deliver leading-edge performance solutions used by automotive parts and assembly suppliers."
D&R Management team is also aggressively discussing a number of acquisitions with already established companies and the proposed acquisitions are excellent opportunities for D&R Technology Inc. to capitalize on the combination of complementary technologies and skills. By bringing together existing platforms and expertise D&R intends on developing next generation products and technologies in the areas of robotic integrated machinery for the automotive and robotic surgical industry as well as other industries.
About - D&R Technology Inc.
D&R Technology designs, manufactures, and markets industrial and consumer products. Through independent subsidiaries we provide state of the art automation technology solutions to enable customers to dramatically accelerate time-to-market and increase revenue.
D&R Technology Inc. is a recognized technology pioneer and market leader in the area of engineering, design and the manufacturing of automated tube processing solutions for the automotive industry. It is emerging as one of the world's leading providers of automated manufacturing solutions, which are used by three of the top ten automotive part suppliers in the world.
The Company also makes custom-built tooling, provides process development, production support, "on-going" service, preventive maintenance and more. D&R is devoted to customer satisfaction through best in class technology application. Developed partnerships with market leaders enable D&R to collectively leverage their respective strengths and deliver total solutions to their customers.
D&R Technology, Inc. applies a process driven approach to equipment creation.
Today's automotive enterprises must continually increase their productivity in order to compete effectively. This requires shorter delivery times reduced operating costs, optimal utilization of capacities and optimized material and information flow, which is the continued primary focus D&R Technology, Inc., offers their customers.
At the same time, total automation, defined previously as the ultimate goal, is being superseded by hybrid, partially automated and therefore flexible production systems. More than ever before, automotive enterprises need companies like D&R to build complete and partially automated solutions, designed quickly, cost-effectively, reliably and ergonomically.
The global automotive manufacturing industry operates in an increasingly aggressive marketplace whose performance is tied directly to performance of the large and growing retail automobile industry. The top six companies in the global manufacturing industry are General Motors (GM), Toyota, Ford, DaimlerChrysler, Volkswagen and Honda and of those D&R automotive solutions are delivering parts for several major automotive brands including Ford, General Motors (GM), Toyota, DaimlerChrysler, and Honda. Management is confident that by year 2015 an estimated eighty percent (80) percent of North American automobiles on market will encompass parts and components produced by the - D&R Technology Inc. products.
D&R Technology Inc. addresses multi-billion dollar markets with huge demand for their superior, cost-effective products. The Company is positioned for rapid growth in revenues and profits and has an impressive and highly-qualified management team that is focused on maximizing shareholder value and becoming a global leader in their industry niche.
Website – www.dnrtechnology.com
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to the future anticipated direction of the Company, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, potential contracts, and/or aspects of litigation. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, Ecoland International, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions. Persons are encouraged to read our Annual Report on Form 10-K for the year ended May 31, 2011 and our other documents subsequently filed with the Securities and Exchange Commission for meaningful cautionary language in respect of forward-looking statements in this press release. Interested persons are able to obtain free copies of filings containing information about the Company at the SEC's internet site (http://www.sec.gov). The Company assumes no obligation to update any of these forward-looking statements.