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COLT Technologies Signs Contract with Manufacturing Firm; Puerto Rico-based Manufacturing Company Agrees to Assemble TekVet System Components SALT LAKE CITY & SAN JUAN, Puerto Rico --(Business Wire)-- Sept. 8, 2004 -- COLT Technologies(TM), a Salt Lake City-based developer of wireless agricultural technologies, today announced it has signed a 12-month manufacturing agreement to begin producing components for its TekVet System(TM).COLT Technologies has selected Electronic-Coop, a manufacturing company based in San Juan, Puerto Rico, to be a manufacturing partner. E-Coop recently signed a manufacturing agreement with COLT Technologies that accompanies a 10 million-piece blanket purchase order of the TekVet System components during the next year. "COLT's agreement with E-Coop represents one of the final steps necessary to begin selling the TekVet System -- our wireless health monitoring and RFID (radio frequency identification)-capable tracking solution for large feeder animals," said Darin Smith, executive vice president of sales for COLT Technologies. The TekVet System quickly identifies sick or unhealthy feeder animals by monitoring core body temperature via the TekVet SmartSensor(TM), a small wireless device attached to an animal's ear. When the animal's core body temperature drops below or climbs above specific temperature guidelines, producers/feedlot managers are notified electronically about the critical change in the temperature. As a result, producers can identify and treat sick feeder animals and return them to full health faster than ever before. This lowers the cost of caring for sick cattle, while increasing the average profit per animal. Inherent in the TekVet System is the ability to gather historical data, tied to passive RFID data, for trend analysis. "We're right on schedule to begin the roll-out process of the TekVet System," said Tali Haleua, president and chief executive officer of COLT Technologies. "Because of initial pre-orders from five feedlots across the nation, our plans for the initial production run have already been exhausted. We're looking forward to working with E-Coop and bringing this innovative technology to market. With the TekVet System's ability to track and monitor feed animals in the critical moments prior to slaughter and consumption, it comes just in time as the Department of Homeland Security and the USDA begin drafting mandates for protecting our food supply from agroterrorism and bioterrorism." COLT Technologies received clearance on Aug. 13, 2004, from the United States Federal Communications Committee to begin manufacturing the TekVet SmartSensor. Prior to that, COLT Technologies completed successful live animal beta tests of its TekVet System in July, and it expects to begin taking orders for the TekVet System in September. About COLT Technologies Formed in 2003, COLT Technologies, LLC is a privately funded Salt Lake City-based developer and manufacturer of agricultural technologies. The company focuses on the application of wireless technologies to lower production costs, increase profits and improve product safety in the livestock industry. For more information on the company, visit its Web site at www.tekvet.com or call 801-365-2222. About Electronic Coop Puerto Rico-based Electronic Coop is a multi-phase wireless communications company that specializes in contract manufacturing, design, technology network deployment and related data transmission services. E-Coop offers local and foreign companies opportunities to build products at a competitive cost and high-quality standards. COLT Technologies, TekVet System and TekVet SmartSensor are each trademarks of COLT Technologies, LLC. |
