LAS VEGAS, June 19, 2008 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company has been selected to institute and staff a business process management function for one of its clients at a major oil refining facility in the Oil Sands Region of Northern Alberta, Canada. The process management function will be specifically tailored to the needs and particular requirements of the refinery industry, and involve a method to systematically catalog, evaluate, organize and upgrade the management of the facility. The project is expected to significantly improve the overall efficiency of the operation while reducing costs.
In the high-profile petroleum industry, business operations must be streamlined to improve performance and operational efficiency, and MetaPower has been engaged with this client to improve its plant performance through enhanced maintenance reliability programs. The new process management model is a step beyond previous improvements, establishing new management practices for possible use in additional refining facilities. Once established, MetaPower expects to market the management model to other potential clients.
"We are very excited about this opportunity. We have worked with several clients to develop these types of organizational units and believe it will pay big dividends for this client. We expect that this will require several MetaPower business analysts to support this organization for the next year or so," stated Ken Allen, CEO of MetaPower International, Inc.
MetaPower provides planning and scheduling services, maintenance training, procedure development and change management consulting as part of the engagement with this client. MetaPower International recently announced that the Company's revenue increased by 229 percent for the First Quarter, 2008 compared with revenues from the First Quarter 2007. The Company generated $1,604,910 in revenues in the First Quarter of 2008, in contrast to the $488,148 reported revenue for the First Quarter last year, 2007. In addition, the First Quarter 2008 revenues represent a 33% increase over the Company's 2007 Fourth Quarter revenues of $1,210,241.
About MetaPower International, Inc.:
MetaPower International, Inc. is a technology firm founded in 1996 that provides information technology and change management services to hazardous process industries. This link between technology and services is critical to enable the changes necessary to successfully compete in the current environment. In today's competitive world, business operations must be streamlined if new levels of performance and operational excellence are to be achieved.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.