QuadTech International, Inc. (OTCBB: QTII)
QuadTech International, Inc. provides a timely solution. In May of 2006, the United States Senate struck a deal that they said would make coal mining safer, requiring better monitoring. This legislation was sparked by the Sago mine disaster that killed twelve miners in West Virginia in January in 2006.
The bill requires mines to have two-way wireless communications and tracking systems in place within three years. And it increases fines against mine operators who don’t comply with safety rules and raise the maximum civil penalty to $220,000 from $60,000.*
iPMine tracks, monitors, and communicates with miners and equipment underground and above ground. Location information of both miners and equipment is collected and displayed live on one or more monitoring stations against a background of a mine’s terrain map. iPMine’s redundant communications feature makes the system highly reliable to efficiently operate in the harsh mining environment.
Senators Mike Enzi (R., Wyo.) and Edward Kennedy (D., Mass.), the top lawmakers on the committee that oversees workplace-safety issues, have promised families of the miners killed in the Sago accident that they would take steps to improve safety conditions at coal mines.
Dennis O’Dell, the top safety expert at the United Mine Workers of America, said of the proposed changes: “I think we should have done that way before now, but I’m happy to see that we’re moving forward with that.”
QuadTech is moving forward as well. They have the technological solution and are in place to offer it where it is needed. Making coal mining safer with monitoring is precisely what they do.
Source: Wall Street Journal. (Eastern edition). New York, N.Y.: May 17, 2006. pg. A11
Source type: Newspaper
Source: QuadTech International, Inc.
View the StockGuru Profile for QuadTech International,Inc.:
http://www.stockguru.com/profiles/qtii/
We Invite you to Visit the All New StockGuru Blog!
Here you will find updates on all our covered companies, including Profiled Companies and StockGuru Picks.
Click HERE to visit the Blog, or go to:
http://stockguru.com/blog/
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 453-4268. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure: Pentony Enterprises LLC was compensated $46,000 by a non-controlling third party for profile coverage. Pentony Enterprises LLC is not a registered investment advisers or broker/dealers. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.