NZ Success Story IBEX has seen 1234% Growth

PRESS RELEASE

Award Winning New Zealand Success Story IBEX has seen 1234% Growth

Friday 2nd November 2007

New Zealand based international food technology company IBEX has won the New Zealand Deloitte/Unlimited Fast 50; Fastest Growing Manufacturer Award, Fastest Growing Exporter Award and 3rd Fastest Growing Company in the country.

With 1234.37% turnover growth almost all in export, IBEX is taking the global food industry by storm, through its high-tech freezing, chilling and sorting systems.

IBEX focus on delivering end benefits and solutions to their clients has set them apart from their competitors through new patented technology. In countries such as Brazil which is now an agricultural super power, IBEX has secured almost 50% market share in four years and is now dealing with ALL the major beef and poultry producers.

Breaking the mould and redefining what is possible through cutting edge technology underpins IBEX growth. "We have focused on developing products that deliver REAL benefits to our customers" Says Managing Director Jonathan Engle. "We can save clients up to 40% of energy costs, 80% of labour costs, and provide full product visibility and tracking. That's what makes us special and sets us apart from our competitors.'

Central to IBEX success is the development of its automated temperature control system (TCS), a revolutionary patented technology developed in New Zealand that enables producers to freeze or chill product cost effectively while it is automatically tracked and sorted to any predetermined output. "This integration of several tasks which happen concurrently is the key. Sorting and tracking product during the chilling or freezing process saves time and space, reduces product damage and provides full product tracking." says Mr Engle.

One of the biggest challenges for IBEX is educating the food manufacturing industry as to what is actually possible and what savings can be achieved through new technology and system design. "Our systems not only offer substantial energy and labour cost saving but also enable complete product tracking and fully automated product sorting. The benefits of these for our clients are huge, through better inventory management systems, reduced cold storage areas and improved product quality." says Mr Engle.

IBEX believe in their products so much that they offer these systems at no capital cost, based on a fixed price per kilo processed that is likely to be less than current production costs, while gaining all the additional benefits of their fully automated systems.

Mr Engle says that the biggest challenge the company now faces is how to manage the continued rapid growth. He believes the company has a winning formula to manage the expansion.

"IBEX will remain in New Zealand as a technology company, with sales being made right around the globe. It makes sense to keep the design function here but do the actual cutting of steel where it is most economical, and quality standards can be met. This will ensure continued global success, and give us a natural hedge on exchange rates."

About IBEX

IBEX is a manufacturing and product development company with over 25 years experience in providing practical solutions in demanding production environments, specializing in meat and food industry based products. IBEX is a global company with offices in New Zealand, Australia, Europe and South America.

IBEX strength has always been service-support and offering quality products which meet and exceed customer expectations, which represent excellent value and draw on vast industry and product knowledge. Coupled with the emphasis on customer support, IBEX can offer specific solutions that are unparalleled in the industry.

ENDS

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