MRI and Dycor Technologies Ltd. Align for Growth Opportunities

KANSAS CITY, Mo. and EDMONTON, Alberta, Nov. 15 /PRNewswire-USNewswire/ -- Officials at Midwest Research Institute (MRI), a Kansas City, Mo., USA, based organization, and Dycor Technologies Ltd. (Dycor), an Edmonton, AB, Canada, based company, announced today that MRI has made a strategic investment in Dycor that will provide opportunities for the two companies to work together on research and development in the areas of chemical and biological detection and energy.

Both MRI and Dycor have research and development expertise in the biological and chemical detection, and energy sectors. MRI has expertise in the sciences required for research and development in these sectors, while Dycor provides expertise in engineering design and development and manufacturing design.

"Energy and defense are two global priorities that require solutions to complex problems and offer growth opportunities to organizations with the right technological expertise," said Michael F. Helmstetter, Ph.D., Senior Vice President of MRI's Research Operations. "By working together, our organizations will be able to leverage our respective areas of expertise and grow our businesses while developing solutions to some of the world's most pressing concerns."

MRI's investment of $1.3 million, combined with funds from a private equity group composed of Dycor's management team, allowed for the buyout of Dycor's founding shareholder's majority interest in the company, and the restructuring of Dycor for significant growth. The Dycor management group holds the majority interest in the company, and the five-member board of directors will be chaired by MRI's Michael Helmstetter.

"The alignment of Dycor's experience in serving international markets with bio detection technologies, coupled with MRI's significant experience in energy and biological and chemical detection, creates unique synergies and positioning for long-term strategic growth for both organizations," said Edgar Semler, President of Dycor. "We look forward to working together to pursue new business opportunities."

"The complementary capabilities of MRI and Dycor will allow our two companies to offer a broader range of products and services to our existing customers, as well as expand our customer bases," adds Roger Starnes, MRI's Group Vice President of Strategic and Emerging Programs, who was instrumental in developing the arrangement between the two organizations.

About Midwest Research Institute:

MRI, a not-for-profit research organization with 1,800 employees nationwide, performs contract research and laboratory consulting services for clients in government, industry, and academia. Established in 1944, MRI is one of the nation's leading independent research institutes conducting research in the areas of national security and defense, life sciences, food and agriculture, transportation safety, energy, and environment.

With headquarters in Kansas City, MRI also has facilities in Palm Bay, Fla., Frederick, Md., and Rockville, Md. MRI has managed the National Renewable Energy Laboratory (NREL) in Golden, Colo., for the U.S. Department of Energy since 1977. The Institute's mission is to benefit society by providing solutions to national problems through scientific research, technology development, and technical services. MRI also promotes science education for youth by supporting Science Pioneers, which holds one of the largest science fairs in the country, and the FIRST Robotics Competition. For more information, visit www.mriresearch.org

About Dycor Technologies Ltd.:

Established in 1981, Dycor is Canada's most experienced biological detection company and is a leader in biological detection technology, equipment, and services, as well as data acquisition technology in the energy sector.

On the data acquisition front, Dycor specializes in providing wireless data communication solutions for remote, hostile, limited infrastructure environments. Dycor provides users with the tools to transmit data quickly, reliably, and at minimal cost. Whether extending customer networks between office buildings or collecting data from several gas well sites for transmission to the control center, Dycor's technical staff provides end-to-end support and implements a total solution to address customer needs quickly and cost effectively.

On the biological detection front, Dycor has furnished biological detection, collection, chamber technology and test & evaluation capability in more than 15 countries. The company is involved in defense applications, fielded on naval and reconnaissance vehicle platforms and referee systems, and has expanded into public health and animal pandemic monitoring and analysis. Dycor conducts background data collection studies on a continuous basis, in a widening range of geographic and climactic conditions, validating and maximizing alarm parameters for detection equipment, and providing key background data for local operations. Dycor has headquarters in Edmonton, Canada, with offices in Cyprus and the Netherlands. For more information, visit www.dycor.com.