ADB signs customer agreement with Trilogy Energy
TORONTO, April 6 /CNW/ - ADB Systems International (TSX: ADY; OTCBB: ADBYF), a global provider of asset lifecycle management solutions, announced today that it has entered into a customer agreement with Trilogy Energy LP, a Calgary-based limited partnership active in the exploration and development of oil and natural gas, and an indirect wholly-owned subsidiary of Trilogy Energy Trust, a recent trust spinout from Paramount Resources Ltd.
ADB will provide Trilogy Energy with a comprehensive enterprise asset management technology solution. ADB's technology will enable Trilogy Energy to schedule maintenance activities, manage its inventory of materials and spare parts, replenish inventory electronically, and transfer assets from multiple locations, resulting in streamlined processes and operational efficiencies.
"ADB's technology solutions are extremely well suited for the oil and gas industry, particularly as companies seek to maximize their output and minimize disruptions during a period of high resource prices," said Jeff Lymburner, CEO of ADB Systems. "We look forward to working with Trilogy Energy as it launches its operations in Western Canada."
Trilogy Energy concentrates its exploration and development activities in the Kaybob and Marten Creek areas of Alberta, producing more than 25,000 barrels of oil equivalent a day.
About ADB Systems International Ltd. ------------------------------------
ADB Systems International delivers asset lifecycle management solutions that help organizations source, manage and sell assets for maximum value. ADB works with a growing number of customers and partners in a variety of sectors including oil and gas, government, healthcare, manufacturing and financial services. Current customers include BP, GE Commercial Equipment Financing, Halliburton Energy Resources, the National Health Service, permanent TSB, Talisman Energy, and Vesta Insurance.
Through its wholly owned subsidiary, ADB Systems USA Inc., ADB owns a 50 percent interest in GE Asset Manager, a joint business venture with GE. ADB has offices in Toronto (Canada), Stavanger (Norway), Tampa (U.S.), Dublin (Ireland), and London (U.K.).
The company's shares trade on both the Toronto Stock Exchange (TSX: ADY) and the OTC Bulletin Board (OTCBB: ADBYF).
This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. These include, among others, statements about expectations of future revenues, cash flows, and cash requirements. Forward-looking statements are subject to risks and uncertainties that may cause ADB's ("the Company") results to differ materially from expectations. These risks include the Company's ability to raise additional funding, develop its business-to-business sales and operations, develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the Company's products and services, competitive factors, new products and technological changes, and other such risks as the Company may identify and discuss from time to time, including those risks disclosed in the Company's Form 20-F filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the Company's plans will be achieved.
For further information: Contact: At ADB Systems International Ltd., Joe Racanelli, Director of Marketing, Tel: (416) 640-0400 ext. 273, Fax: (416) 640-0412, E-mail: firstname.lastname@example.org; To request a free copy of this organization's annual report, please go to http://www.newswire.ca and click on reports@cnw.
CO: ADB Systems International Inc. ST: Ontario NI: ORDER INTERNET NASDAQ -0- Apr/06/2005 13:10 GMT