Silverdale, WA (PRWEB) August 26, 2004
Radix Marine, Inc. (OTC Bulletin Board: RDXM), a marine vessel development company specializing in port and homeland security and defense initiatives, has branched out to include light manufacturing to their list of skills. They have received a contract to manufacture homeland security-related equipment for the Washington State Patrol. This equipment will enable the Washington State Patrol to protect themselves while performing essential duties.
Radix Marine, Inc. recently gained the capabilities to manufacture their homeland security products in-house, making this contract possible.
ÂManufacturing high speed vessels can be cyclical in nature, especially now, with the company in an early growth stage,Â said Kathy Bright, president and CEO of Radix Marine. ÂAs the company grows, these jobs will balance the overall workload of the shop, stabilizing both the workforce and revenue stream.Â The contract with Washington State Patrol is a direct result of the recent agreement to lease manufacturing equipment from All Metal Works, LLC.
Under the agreement with All Metal Works, LLC, Radix Marine, Inc. agreed to handle all new jobs that previously would have been awarded to All Metal Works. All Metal Works has well over a hundred clients, among them Washington State Patrol.
The contracts received from All Metal Works have valued over $58,000 in the last week alone. Radix Marine, Inc. has also gained contracts with a specialized marine vessel company, Advanced Marine Concepts. With the addition of the new contracts and the new manufacturing facility, RDXM's stock is well undervalued and is expected to see a major increase in volume.
About Radix Marine
Headquartered in Silverdale, Wash., Radix Marine, Inc. specializes in port and homeland security and defense initiatives within the marine industry. The company focuses on opportunities with the U.S. Navy, Coast Guard, and Marine Corps, as well as the international markets, for Unmanned Surface Vehicles, Challenger Class Patrol Craft, Unmanned Harbor Security Vehicles, and Commercial Vessels. Radix Marine is publicly traded on the NASDAQ Over The Counter Bulletin Board (OTCBB).
For more information, please contact Radix Marine at 9119 Ridgetop Blvd., Suite 260, Silverdale, Wash. 98383; telephone, 360-692-6446; fax, 360-692-0977; visit the company's web site radixmarine.com; or the investor relations' website rdxm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements". These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources.Â Although we believe that the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future results. Actual results may differ materially due to factors over which we have little or no control.
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