NEW YORK, Oct. 26, 2010 (GLOBE NEWSWIRE) -- TIE Technologies, Inc. (Pink Sheets:TTCS), who operates a portfolio of Homeland Security assets focused on natural and man caused disaster intervention, driven by proprietary smart logistics, telemetrics and advanced IT solutions, today announced that its Smart Environmental Logistics division has initiated work on the smart levee project for the State of Louisiana.
The pilot installation will monitor a one mile stretch of the levee that protects the city of New Orleans from a breach caused by natural or man caused disaster. The system will collect critical 'levee status data' from monitoring sensors installed throughout the flood control system. Real time information is transmitted via satellite uplink to an interactive data center to advise and warn of any potential problems or actual levee failure that could forerun catastrophic consequences.
"The Smart Levee System will provide the communications infrastructure necessary to prevent the unnecessary loss of life and property. TIE is focused on providing environmental disaster intervention and remediation solutions through our Smart Environmental Logistics division," Mark Marangella, Executive Vice President of TIE Technologies, Inc., commented. "We look forward to not only the success of this initial project, but also the support and focus of the U.S. Army Corps of Engineers to address the requirement for providing a smart solution at a national level which consists of over 4000 miles of critical levees." Mr. Marangella went on to say, "We anticipate the smart levee project and the smart environmental logistics product line will potentially create sales ramping up from $500 thousand in the fiscal year ended June 2011, to $6 million in 2012 and 15 million in 2013 fiscal year."
ABOUT SMART ENVIRONMENTAL LOGISTICS
Smart Environmental Logistics (SEL) is a single source engineering and technology company that offers products and services, coupled with technology, to meet the challenges its clients face. From catastrophic oil spills to monitoring structural integrity in critical infrastructures, SEL responds and delivers "Smart" solutions that leverage technology. The development of the Oil Dam for the U.S. Coast Guard and local communities in response to the Deep Water Horizon oil spill is an example of the type of solutions SEL can design and deliver.
ABOUT TIE TECHNOLOGIES, INC.
TIE Technologies is a diverse holding company specializing in science and technology driven companies. Their portfolio of companies are focused on proprietary smart logistics for Homeland Security, environmental and disaster remediation, telemetrics, and advanced IT solutions, TIE Technologies is traded on Pink Sheets under the symbol "TTCS." For additional information, please visit www.tietechnologies.com.
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
CONTACT: TIE Technologies, Inc. Investor Relations Contact 212-334-3020 investor.relations@tietechnologies.com