MATERIAL TECHNOLOGIES TO ACQUIRE SIMS; AGREEMENT BRINGS SUPERIOR SAFETY MONITORING TO NATION'S BRIDGES.

Advanced Materials & Composites News,  October, 2000  

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Material Technologies Inc. (Matech) (OTCBB:MTEY) of Los Angeles announced in late September that it will purchase Structural Integrity Monitoring Systems Inc. (SIMS) of Danbury, Connecticut in exchange for 12.5 million common shares of the company. The SIMS acquisition is subject to pending financing arrangements to provide working capital for the combined entities.

SIMS developed a suite of optical sensors designed to continuously monitor the structural deterioration in the nation's bridges. The estimated bridge repair and replacement market to be aided by such technology is ...

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