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MDI, Inc. Subsidiary MDI Security Systems Announces New Orders from Almana Networks in Fulfillment of $5 Million Revenue Commitment for 2008
SAN ANTONIO --(Business Wire)-- MDI, Inc. (NASDAQ: MDII) announced today that MDI Security Systems (MDI) has received six orders this month from international technology solutions integrator Almana Networks (Almana), based in Doha, Qatar. These orders have been placed to fulfill a $5 million product revenue commitment from Almana to MDI this year.
Almana Networks is expecting to have a record year driven by an increase in business from new large construction opportunities in one of the world's richest and fastest growing cities (Doha, Qatar). The company is projecting a 300% growth in overall sales in 2008. A large percentage of this growth is expected to come from security technology products and integrated security systems that will be installed into businesses, facilities, compounds and multi-story high rise towers within and in proximity to the city of Doha.
MDI's Middle East office, located in the Regus Building in Doha, provides Almana Networks and its physical security and low voltage customers with sales support, sales engineering support, system design services and security consulting.
Current project orders include:
-- A video surveillance system for a 22-villa compound in Doha
-- Integrated access control, time & attendance and video surveillance for the headquarters of one of the world's largest data systems corporations, providing service to the Qatar Foundation and Education City
-- Integrated access control, perimeter intrusion and video surveillance for the Al Fardan BMW National Workshop in Khalifa
-- Integrated access control and video surveillance for Al Fardan's National Pre-Delivery Inspection Facility at Industrial City
-- A complete digital video surveillance system for the Al Fardan Jewelry Center
"We have had a multitude of security vendors attempting to sell us their point products," stated Ebrahim Mattar, Director of IT for the Al Fardan Group. "We have chosen MDI and Almana Networks because they offer a complete solutions approach that fits our enterprise needs across all our holdings. The team is consulting and designing systems with us hand in hand, which demonstrates a high project success rate in our experience. Because of this, we are considering working with them across the Gulf Region," he added.
Additional projects that Almana is expecting to deliver in partnership with MDI in the near term include a 46-story office building and recreation center, a 64-story residential tower (which is the 2nd largest structure in the country) and a large-scale 32-unit compound.
The unique customization features of MDI's multiple award-winning open architecture platform continue to resonate with the Middle East market. MDI and the Almana Networks team continue to empower client organizations to manage by exception across multiple layers of security protection. As an event occurs, MDI's unified system gives security managers complete enterprise situational awareness capabilities while allowing them to command and control integrated point security solutions as needed, across multiple remote locations, based on levels of threat to people, facilities and assets.
About MDI, Inc.
MDI, Inc. (NASDAQ: MDII), is the parent company of a diverse set of wholly-owned subsidiaries that have successfully serviced the construction and security industries for over 28 years. MDI companies deliver security technology products, services and training for government, homeland security, commercial and educational markets as well as comprehensive construction solutions for a variety of clients on an international scale. MDI companies include:
MDI Security Systems(TM) - www.mdisecure.com
MDI Professional Services Group - http://www.mdiincorporated.com/MDI_PSG.pdf
The LearnSafe Initiative(TM) - www.learnsafe.org
FAS Construction Management - www.fascompanies.com
FAS Construction, LLC
Forward-Looking and Cautionary Statements
Except for historical information and discussions contained herein, certain statements included in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this document, other than statements of historical fact, that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements represent our reasonable judgment on the future based on various factors and using numerous assumptions and are subject to known and unknown risks, uncertainties and other factors that could cause our actual results and financial position to differ materially from those contemplated by the statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "project," "forecast," "plan," "may," "will," "should," "expect" and other words of similar meaning. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the Company's expectation. Additional information concerning risk factors is contained from time to time in the Company's SEC filings. The Company expressly disclaims any obligation to update the information contained in this release.
All product and company names mentioned herein may be the trademarks of their respective owners.
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