e-Power International Inc. Finalizes Immobiliser Acquisition
HOUSTON--Feb. 14, 2001--Officials of e-Power International Inc. (OTCBB:EPWI) announced today that they have purchased Immobiliser Inc., a Houston-based engineering, manufacturing and consumer technology company. Terms of the acquisition include $5 million equal to 2.5 million shares valued at $2 per share for 100 percent of the outstanding stock of the company.Immobiliser produces security devices for Harley-Davidson(R) dealers , electronic and machined components for the military and has just announced the first over-the-counter Internet wireless retail global positioning, tracking and control system in the world, GPS Vision(TM). Through GPS Vision(TM), vehicle owners from anywhere in the world can track and control their vehicle via the Internet. The product uses advanced technology from Motorola(TM) and MCI WorldCom's SkyTel(TM) two-way paging network, as well as new wireless Internet technology from Elite Logistics (OTCBB:ELOG).
Enrol Corporation changed its name to e-Power International on Jan. 22 and currently manages and operates companies in the technology, engineering and manufacturing sectors. Immobiliser will share manufacturing technologies with the electronics division of Paradigm, an e-Power company that engineered and assembled some of Immobiliser's original components.
Paradigm is a military specification manufacturing company working very closely with the U.S. Government and the Department of Defense. It has established itself as one of the premier manufacturing facilities for electronic assemblies, machining and repairs and is the sole source provider of several components for the U.S. Army, Navy and Air Force. Paradigm is certified as one of only seven companies in the United States qualified to work on certain high-level security projects.
GPS Vision(TM) uses the PageTrack(R) technology of Elite Logistics Inc. (OTCBB:ELOG) based in Freeport, Texas. Elite Logistics provides a comprehensive solution to the logistics needs of fleet managers as well as the security needs of private vehicle owners. A leader in the telematics industry sector, the company is best known for its patent-pending PageTrack(R) family of Intelligent Vehicle Systems.
Motorola is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales in 1999 were $33.1 billion.
Harley-Davidson(R) is a registered trademark of Harley-Davidson Inc.
The statements in this news release that are not historical fact are "forward looking statements" which can be identified by the use of forward looking terminology such as "believes," "expects," "may," "should" or "anticipates." Management cautions the reader that these forward-looking statements, including the discussions of the company's growth operating strategies and expectations concerning the market position, future operations, margins, revenue, profitability, historical facts, are only predictions. There can be no assurance that any of these expectations will be realized or that any of the forward-looking statements contained therein will prove to be accurate.