Radix Marine Continues to Ramp Up Its Manufacturing Operations; Delivers Its First Homeland Security Products to Washington State Patrol.
"These actions are designed to increase our light manufacturing business, as well as to enhance and streamline the efficiency of our in-house manufacturing capabilities for our boats," said Kathy Bright, president and CEO of Radix Marine. "Our move in August to add in-house manufacturing capabilities through the acquisition of our own facility is giving us greater control over our manufacturing and R&D efforts, while our decision to add light manufacturing is helping us test the efficiency of our capabilities for our core boat business. Our goal continues to be maximizing the production capacity of our manufacturing facility."
As part of its light manufacturing business, Radix Marine has constructed and delivered its first homeland security products for the Washington State Patrol. The products are high tech kennels to house the canines being trained to patrol the Washington State ferries, and have been constructed with funding from the Department of Homeland Security. In addition to the Washington State Patrol orders, the company has broadened its customer base for its light manufacturing services to include steel beam work for the upscale home construction industry.
"Taking on projects of this nature helps us test the efficiency of our manufacturing facility for our boat contracts, which we anticipate will provide an even revenue stream between boat contracts," said Bright.
In Radix Marine's boat business, work is underway on its contract for two prototype manned vessels with a marine technology company Advanced Marine Concepts, formed by Philip Whitener, a retired Boeing test engineer and Eric Anderson, CEO of Art Anderson Associates. Codenamed "Dragonfly," the prototypes will demonstrate proprietary new ultra high efficiency technology developed by Advanced Marine Concepts for high-speed passenger and car ferries. The design combines surface effect ship and hydrofoil technologies. In addition to the prototypes, the company has added additional staff at its manufacturing facility, including welders certified to ABYC/Coast guard standards for the marine work, and certified to WAVO standards for the construction work. The company also plans to continue to add new capabilities to the manufacturing facility through the acquisition of equipment with the goal of becoming a full service metal shop with cut, break, bend, weld, and other forms of fabrication capabilities by the second quarter next year.
Headquartered in Silverdale, Wash., Radix Marine, Inc. specializes in port and homeland security and defense initiatives within the marine industry. The company's focus is 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 http://www.radixmarine.com; or the investor relations' web site http://www.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. 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.