Ecoland International, Inc. (ECIT) today announced that acquisition of D&R Technology Inc. has been approved by announced today that further to its press release dated October 19, 2011 both Ecoland and D&R boards and expected a definitive close date of November 4, 2011.
D&R’s shareholders will receive a majority share ownership in ECIT and it is anticipated that a name change will be made reflecting this change in majority share ownership.
David Wallace , CEO of Ecoland International , commented:
“This transaction offers significant value for Ecoland shareholders by providing compelling new opportunities in the ever growing robotics industry. We are pleased to introduce to our shareholders a Management team that have been industry pioneers since 1976. D&R Technology Inc. is one of the world’s foremost providers in designing, building and the installation of tube related automated systems and is dedicated to deliver leading-edge performance solutions used by automotive parts and assembly suppliers.”
D & R Technology Inc.
7669 Kimbel Street
L5S 1A7 Mississauga, Ontario
D & R Technology Inc. is a recognized technology pioneer and market leader in the area of engineering, design and the manufacturing of automated tube processing solutions for the automotive industry. It is emerging as one of the world’s leading providers of automated manufacturing solutions, which are used by three of the top ten automotive part suppliers in the world.
D&R Technology managements estimated that by year 2015 eighty percent percent of North American automobiles on market will encompass parts and components produced by the D&R Technology Inc. products.