|
Clifton, NJ – March 8, 2005
– Electronic Control Security
Inc. (OTCBB: EKCS), a global leader
in perimeter security systems worldwide,
today announced its wholly owned subsidiary
has acquired all of the assets of
Clarion Sensing Systems, Inc. of Indianapolis,
Indiana, a provider of proprietary
Nuclear, Biological, Chemical and
Radiological (NBCR) Remote Monitoring
Sensor Systems designed for air and
water sensing applications. The acquisition
will give ECSI critical technologies
and expertise in Nuclear, Biological,
Chemical, and Radiological systems
for both homeland security markets
as well as military markets in the
U.S. and abroad. ECSI acquired the
assets of Clarion for an aggregate
purchase price of approximately $1.3
million, including 394,682 shares
of stock and the assumption of approximately
$650,000 of Clarion’s liabilities
(of which ECSI already has paid approximately
$350,000 to date). The Company also
has agreed to assume on a contingent
basis $438,959 of certain liabilities
of Clarion and to pay certain professional
and other fees incurred in connection
with the transaction. ECSI projects
it will generate sales for this product
line of $2,250,000, $3,550,000 and
$4,500,000 in fiscal 2006, 2007 and
2008, respectively.
“We are very impressed with
Clarion’s management team and
their advanced NBCR technology. We
look forward to integrating their
products for the Department of Defense,
USAF-IBDSS program, U.S. Army Guardian
program, Department of Energy, and
homeland security markets worldwide
through our existing distribution
networks. Clarion’s products
are now in high demand and should
yield significant profit in the years
ahead.” said Arthur Barchenko,
CEO of ECSI International, Inc. “The
detection of nuclear, biological,
chemical and radiological agents in
water is an area of extreme importance
to homeland security. Terrorists can
attack us through air pollution and
insertion of deadly toxins into water.
Without proper and timely detection
of these agents our population could
be at serious risk. ECSI’s existing
corporate and government customers
are a great sales channel for this
emerging technology. It’s ECSI’s
goal to provide state of the art detection
technologies to our clients.”
About Clarion Sensing Systems and
Technology
Clarion is an innovative technology
leader that integrates complete systems
to remotely monitor, analyze, and
communicate information about water
and air quality. Clarion’s Sentinal™
systems detect the evidence of NBCR
contamination and operational problems
and immediately notify security forces
of the detected situation and provides
information to guide the action to
be taken. Clarion’s Sentinal™
500 drinking water quality remote
monitoring system has completed the
EPA’s Environmental Technology
Verification (ETV) Program run by
Battelle Memorial Institute. Clarion
currently supplies remote sensing
solutions to the U.S. Army, U.S. Navy,
municipalities, and industry. Clarion
has teaming agreements with Radian,
ITS Corporation, and other industry
leaders. Clarion’s office is
located at 3901 W 30th St., Indianapolis,
IN 46222. Tel: 317-295-1433; Fax:
317-295-1436; or visit www.clarionsensing.com.
About ECSI
ECSI is recognized as a global leader
in fully networked and integrated
perimeter intrusion detection security
sensor systems and an effective ISO
9001:2000 quality provider for the
Department of Energy, the Department
of Defense and Homeland Security programs.
The company designs, manufactures
and markets physical electronic security
systems for high profile, high-threat
environments. The employment of risk
assessment, inclusive of threat, vulnerability
and criticality factors, allows ECSI
to determine and address the security
needs of site-specific government
and commercial-industrial installations.
The company also has teaming agreements
with Athena Ltd., ADT Federal Systems,
ARINC, SRH Marine, Resource Consultants
Inc., and other industry leaders.
ECSI is located at 790 Bloomfield
Avenue, Bldg. C-1, Clifton, NJ 07012.
Tel: 973-574-8555; Fax: 973-574-8562;
for more information on ECSI and its
customers please go to http://www.anti-terrorism.com.
Certain statements included in this
press release are forward-looking
statements within the meaning of the
Private Securities Litigation Reform
Act of 1995. Actual results could
differ materially from such statements
expressed or implied as the result
of a variety of factors, of which
a number could be potentially beyond
the Company's control. The Company's
actual results and events will be
expressed from time to time in the
Company's periodic filings with the
Securities and Exchange Commission
(the ``SEC''). As a result, this press
release should be read in conjunction
with the Company's periodic filings
with the SEC. The forward-reaching
statements contained herein are made
only as of the date of this press
release and the Company assumes or
undertakes no obligation to publicly
update such forward-looking statements
to reflect subsequent events or circumstances.
|