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IMS Prepares for creation of new, world-class facilitiesLocal high-tech company expands, invests in premier Waterloo property Waterloo, ON – Sept 15, 2008 – IMS, Intelligent Mechatronic Systems Inc., announced its plans to relocate within Waterloo, Ontario, to a high-profile site purchased today by the company’s controlling shareholders. The 18-acre property includes the former Conestoga College building at 435 King Street and extends west to Weber Street. The property allows IMS to stay in Waterloo, where it has close ties to the community and to the local universities. IMS intends to use the property to meet an immediate need for office space and amenities, and allow for future expansion of offices and facilities as the company grows. “IMS has doubled in size since 2005 and we’ve been searching for some time for the right commercial property in Waterloo,” said Dr. Otman Basir, CEO of IMS. “We are thrilled to acquire this great piece of property in such a tight market.” The creation of a world-class high-tech centre is planned for the site, including state-of-theart laboratories for sound and vehicle emissions research. “The nature of our business requires highly skilled, educated and talented employees,” said Dr. Basir. “Having the highest quality facilities is a core asset, necessary for IMS to compete in global markets and also to attract and retain the best people.” IMS is a Waterloo-based high-tech company that focuses on research and commercial development of intelligent systems in the growing market of smart automobile design. IMS technology and products provide solutions to enhance vehicle functionality, making them safer and more environmentally friendly. Current products include iLane and Drivesync that deliver on the commitment of making intelligent vehicles a reality. IMS plans to work carefully and closely with the City of Waterloo on its future growth plans, in keeping with the City’s vision for light industrial and commercial office development of this property. The first stage for IMS is to request a zone change for the former Conestoga College building from institutional to commercial to allow for the renovation of this facility for office use. Peter Benninger, President/Broker of Record for Coldwell Banker Peter Benninger Realty, who acted on behalf of the purchaser through these property negotiations, confirmed that “this is one of the most attractive and sought after properties in Waterloo and is a tremendous long-term asset for IMS. We are thrilled that we were able to assist IMS in meeting their objectives, allowing this local company to grow and create jobs and prosperity in Waterloo.”
Contacts:Tony Cassetta Peter Benninger
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