Matrikon equipment monitors record successes

  • June 09, 2008
  • Matrikon Inc.
  • News
Edmonton, Alberta – June 9, 2008 - Matrikon reported significant achievements for two of its industry applications and the declaration of a special dividend. Mobile Equipment Monitor, launched in April 2008, recently went live in its first full production implementation. This represents a key milestone for Matrikon and signals an optimistic future for MEM and Matrikon’s ability to deliver value to the mining industry.Well Performance Monitor has also built momentum since its release last May. A letter of intent was received this week for the rollout of the solution to 400 wells in the Middle East following a successful six-month pilot. WPM was also recently rolled out to several North Sea wells for an emerging operator. The outlook and opportunities for WPM remain solid.Commenting on these achievements, Matrikon’s president and CEO Nizar J. Somji stated: “We have been working diligently to deliver on our strategy, and that is evidenced by recent wins with our industry applications. We believe these applications will be the fuel of our future growth. I have never been more confident in our opportunities, and with the momentum we have built over the past year, I believe we are well positioned to capitalize on these opportunities and continue to generate healthy cash flow.”Based on these successes and a growing cash balance, Matrikon’s board of directors has declared a special one-time dividend of $0.30 per common share to all shareholders of record on June 24, 2008, which is payable on July 8, 2008. The board also declared Matrikon’s third quarter dividend of $0.03 per common share with the same record and payable dates. These dividends are eligible dividends for Canadian tax purposes.MEM allows companies to monitor the real-time health and performance of all of their heavy equipment, regardless of manufacturer, resulting in a considerable reduction in operating and maintenance costs and increase equipment availability.WPM enables the real-time monitoring of the health and performance of oil and gas field operations. WPM provides enhanced field surveillance, detects changes in well behaviour, calculates potential production losses and helps identify opportunities for improvement.About MatrikonMatrikon is a leading provider of integrated industrial intelligence solutions that enable manufacturing plants to achieve operational excellence by transforming production data into knowledge to predict and prevent problems and optimize operations. Matrikon's customers achieve agile operations through the combination of external market and plant data to make informed, intelligent decisions in real-time. With offices in major cities throughout North America, Australia, Europe and the Middle East and a global client base including industry leaders in a wide range of process industries, Matrikon's reach is global. Learn More

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