New subsidiary should enable the Company to speed-up growth in European markets
Symbol: CXG.A-TSX-V
www.clemex.com
Shares Outstanding : 29,699,810
MONTREAL, Aug. 14, 2012 /CNW Telbec/ - Clemex Technologies Inc. (TSXV: CXG.A) is pleased to announce the opening of its subsidiary "Clemex Europe" in France. This new subsidiary will be owned jointly by Clemex Technologies Inc. (75%) and RAL Diagnostics (25%). It will be located in Martillac (Bordeaux) and operated from the office premises of RAL Diagnostics.
This expansion in Europe is in accordance with both Clemex and RAL Diagnostics strategic development plans outlined after their partnership agreement was signed last year. For several years, the Company had hoped to expand in Europe to further develop growth on that market. The expansion of operations had become essential with the new medical instruments designed for the biomedical field.
When asked to comment, president and CEO, Mr. Clement Forget stated "We are very pleased to finally have permanent physical presence in France. The European market has excellent commercial development potential for all products designed by Clemex. There is a very important European clientele which have to same needs and demands as our North American clients. However, we have never been able to serve the demands on this market as well as we could with no qualified sales representatives physically present in Europe. Along with our new partner, RAL Diagnostics, we have set the grounds necessary to expand with confidence, hence, obtain business development on this market which should meet our goals."
Mr. Frédéric Imbs, president and general manager of RAL Diagnostic has declared on his part "The opportunity to have the Clemex products and Clemex expertise will be greatly helpful for us in continuing our joint effort to, design, build, manufacture, and sell our products destined to the biomedical market. Combining our efforts and strengths, we have concluded a win-win arrangement, that can only be mutually beneficial to both companies."
About RAL Diagnostics
RAL Diagnostics is a manufacturer of biological stains intended for the field of human and animal health, scientific research, medical diagnosis, and industry. These stains are available in liquids or ready to use kits. RAL Diagnostics serves 6,000 medical analysis laboratories and anatomopathology laboratories of France thanks to a network of 35 distributors and 180 representatives. The company is present in more than 40 countries in the world.
About Clemex Technologies, Inc.
Clemex Technologies Inc. develops, manufactures and markets image analysis systems and software used by quality control and research microscopy laboratories. Clemex customer base spans over many countries in America, Europe, Asia and encompasses major Research and Development Centers, prestigious Universities and large manufacturing industries in various fields including healthcare, automotive, aerospace, raw materials manufacturing, pharmaceuticals, mining and other sectors.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.
SOURCE: CLEMEX TECHNOLOGIES INC.
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