Plaintree Systems Inc. Announces Orders of Over U.S.D. One Million for Its Flood Proof Foundations
Ottawa, Ontario CANADA, Apr 20, 2009 (Filing Services Canada via COMTEX) --
Companies: Plaintree Systems Inc. (LANPF), Plaintree Systems Inc. (NPT), Plaintree Systems Inc. (PTEEF)
Plaintree Systems Inc (NPT - CNQ, PTEEF - OTCBB), (NPT - CSNX), today announced that in the last four months its Triodetic division has received contracts worth more that 1.0 million dollars US for the engineering and manufacture of their tubular foundation system, for application in areas of unstable soil conditions in Alaska Russia and the Canadian Arctic.
Triodetic's has a long term relationship with FEMA ( Federal Emergency Management Agency) for the use of its foundation technology in flood relief areas. Its innovative foundation system will be featured at the upcoming AIA (American Institute of Architects) tradeshow later this month in San Francisco, CA. Triodetic also has long standing relationships with HUD (U.S. Department of Housing and Urban development) and CMHC (Canada Mortgage and Housing Corporation).
David Watson, CEO of Plaintree, says that, "At the AIA, Triodetic will highlight the benefits of this foundation system for applications such as the Louisiana rebuilding efforts. They are looking for an inexpensive and robust system that will allow residences to be elevated up to 8 feet above the ground level".
The foundation consists of a galvanized steel frame, which is torsionally stable and elevates the building above the flood plane between 3 feet and 8 feet. The tubular frame gives strength to the building and is adjustable to accommodate uneven terrain. Several hundreds of buildings have been successfully supported by the Triodetic(r) Multipoint Foundation Frames by over the last 30 years and growth in this market has been strong.
For more information on these results, please refer to Plaintree's third quarter 2009 financial statements together with the related Management's Discussion and Analysis report, copies of which can be obtained from the Company's website at www.plaintree.com and/or under Plaintree's name at www.sedar.com.
About Plaintree Systems
The new Plaintree has two diversified product lines consisting of Structural Steel and Electronics.
Hypernetics was established in 1972 and was a manufacturer of avionic components for various applications including aircraft antiskid braking, aircraft instrument indicators, solenoids, high purity valves and permanent magnet alternators. The legacy Hypernetics and Plaintree free space optics businesses are managed as the Electronics Division of newly amalgamated Plaintree Systems Inc.
The Structural Steel Division formally the Triodetic Group, with over 40 years of experience, is a design/build manufacturer of steel, aluminum and stainless steel specialty structures such as commercial domes, free form structures, barrel vaults, space frames and industrial dome coverings.
During the year, Plaintree completed the listing of its common shares on the Canada National Stock Exchange (CNSX) (formerly the Canadian Trading and Quotation System Inc. (CNQ)), to again giving the Company's shareholders a Canadian market on which to trade their shares. Plaintree's shares are traded under the symbol "NPT". Shareholders and Investors can access Company information on CNSX's website and receive full Company disclosure monthly. For more information on Plaintree or to receive stock quotes, complete with trading summaries, bid size and ask price, brokerage house participation, insider reports, news releases, disclosure information, and CNSX and SEDAR filings, visit the CNSX website at www.cnq.ca or the Company's website at www.plaintree.com. Plaintree is pleased to again be trading on a Canadian exchange and I would encourage shareholders to use the CNSX for trading purposes." added David Watson, CEO and President.
Plaintree is publicly traded in Canada on the CNSX (NPT) and in the U.S. on the OTC BB (PTEEF), with 12,522,143 common shares and 18,325 class A preferred shares outstanding.
This press release may include statements that are forward-looking and based on current expectations. The actual results of the company may differ materially from current expectations. The business of the company is subject to many risks and uncertainties, including changes in markets for the company's products, delays in product development and introduction to manufacturing and intense competition. For a more detailed discussion of the risks and uncertainties related to the company's business, please refer to documents filed by the company with the U.S. Securities and Exchange Commission and Canadian regulatory authorities, including the Company's Form 20-f dated September 26, 2008.
Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For further information: (613) 623-3434 ext 3002
Source: Plaintree Systems Inc (NPT-CNSX) http://www.plaintree.com/
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
http://www.useTDAS.com
Copyright (C) 2009 Filing Services Canada. All rights reserved
News Provided by COMTEX
Companies: Plaintree Systems Inc. (LANPF), Plaintree Systems Inc. (NPT), Plaintree Systems Inc. (PTEEF)
Related terms: aircraft, alaska, arctic, business, canada, ceo, commercial, electronics, emergency, federal, flood, foundation, housing, industrial, manufacturer, manufacturing, market, mortgage, optics, president, product development, products, russia, securities, steel, structural, technology, trade
