Calgary, May 7 – Hemisphere GPS (TSX:HEM) is launching a new version of the Outback S-Lite™ guidance system software that supports additional international languages including Simplified Chinese. The new version carries over all the proven features of the existing Outback Guidance® product and now also supports 20 languages. With the new sales distribution partners established, the company expects to ship thousands of S-Lite units into China.
The S-Lite compact size, expandable features and sub-meter accuracy capability make it an ideal entry-level GPS guidance solution for farming applications including spraying, spreading, broad-acre tillage and seeding applications.
"It’s a case where we recognized a specific market need and catered our existing products to meet the demand," said Dr. Mohamed Abousalem, Vice President of Marketing and Business Development. "With China actively developing its biofuel production capability with an annual production capacity target of 10 million tons of ethanol by 2020, together with the country’s estimated potential fertilizer consumption growth of 80%, a tremendous opportunity is developing for our precision agriculture technology in that region."
Over the past few years, the Chinese government has put great efforts into supporting agriculture and offering subsidies to farmers towards the purchase of agricultural equipment. In 2008 alone, the Chinese central budget allocated approximately US$84 billion for farmers, agriculture and development of rural areas, representing a 36% increase from the previous year. According to the Chinese Ministry of Agriculture, there is over 17 million agriculture related tractors in China.
Opportunities for other areas of Hemisphere GPS business are also developing in China. The company has been able to secure agreements with original equipment manufacturers (OEMs) in China for custom, private-label precision GPS positioning solutions including the company’s Crescent® and Eclipse™ GPS receiver technologies.
Hemisphere GPS is adapting its product portfolio to cater to many regions of the world by adding product features and language support. Other languages include: French, Spanish, Portuguese, Dutch, Latvian, Ukrainian, Romanian, Lithuanian and Slovakian. By making existing products more inclusive and developing new products specific to targeted market regions, Hemisphere GPS continues its commitment to broadening its global market share.
About Hemisphere GPS
Hemisphere GPS designs and manufactures innovative, cost-effective GPS products for positioning, guidance, and machine control applications in agriculture, marine and other markets. The Company holds numerous patents and other intellectual property and owns leading brand names, including Outback Guidance® and BEELINE®, two of the leading brands in precision GPS for ground agriculture. The Company is headquartered in Calgary, Alberta, with major product development, sales, and marketing facilities in Arizona, Kansas, Texas, and Australia. Hemisphere GPS trades on the Toronto Stock Exchange under the symbol "HEM" and is a component of Standard & Poor’s TSX SmallCap Index. For more information about Hemisphere GPS, please go to www.hemispheregps.com.
The above disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Hemisphere GPS’ control, including: the impact of general economic conditions, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to the announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Hemisphere GPS’ actual results, performance or achievement could differ materially from those expressed in, or implied by these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceed, that Hemisphere GPS will derive there from.
