MAJOR CHINESE IRON AND STEEL COMPANY HOLDS GO LIVE CEREMONY AND RECOGNIZES SUCCESSFUL DATASTREAM 7i DEPLOYMENT
Xiang Tan Iron and Steel Group Co., Ltd. Celebrates Datastream 7i Deployment; Anticipates Efficiency Gains in Producing 3.5 Million Tons of Steel per Year
GREENVILLE, S.C. – Feb. 25, 2005 – Datastream Systems, Inc. (NASDAQ: DSTM) today announced that Xiang Tan Iron and Steel Group Co., Ltd. (XISCO) of China has accepted the Datastream 7i asset management solution, recognizing its successful deployment. XISCO uses Datastream 7i across 13 sites to manage its coking, sintering, iron making, steel making, rod rolling and thermoelectricity assets.
XISCO, founded in 1958, produces 3.5 million tons of steel per year and is one of 300 select enterprises supported by the Chinese government’s state council. During implementation, Datastream and its partner Baoxin Software integrated nearly 300,000 data files and conducted 120 training courses for 3,000 workers. In addition, by utilizing Datastream’s Business Application Integration Module (BAIM), XISCO successfully integrated Datastream 7i with their ERP system.
“We are extremely satisfied with our Datastream 7i deployment,” said Cao Huiquan, the general manager of XISCO. “Datastream 7i will enable XISCO to realize substantial improvements in our operational processes, while significantly decreasing maintenance costs and downtime.”
With Datastream 7i, multi-site enterprises like XISCO create a more reliable and predictable production infrastructure. This enables organizations to plan and execute their business strategy more effectively than single-site technologies or paper-based processes.
“China is a strategic market to Datastream representing significant growth opportunities,” said Larry Blackwell, CEO of Datastream. “XISCO is a key customer in this growth market and their reference of success with Datastream 7i will drive future sales in China.”
About Datastream Systems, Inc.
Datastream Systems, Inc. (NASDAQ: DSTM) provides Asset Performance Management software and services to enterprises worldwide, including more than 65 percent of the Fortune 500. Datastream’s solutions combine world-class asset management functionality with advanced analytics to deliver a powerful platform for optimizing enterprise asset performance.
By using Datastream’s solutions, customers can maintain and manage capital assets – such as manufacturing equipment, vehicle fleets and buildings – and create analyses and forecasts so they can take action to improve future performance. Datastream’s flagship product, Datastream 7iÔ, delivers a complete Asset Performance Management infrastructure by combining an Internet, web services architecture with broad enterprise asset management functionality, integrated procurement, advanced analytics and multi-site capability.
Datastream was founded in 1986 and has customers in more than 140 countries. For more information, visit www.datastream.net.
Datastream and Datastream 7i are marks of Datastream Systems, Inc. ("Datastream" or the "Company"). All other products or Company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to: the Company may not be able to file its Form 10-Q for the quarter ended September 30, 2004 by the deadline required by Nasdaq if the Company cannot complete its review and the independent auditors cannot complete their necessary procedures; the Company may not be able to comply with the other conditions for continued listing issued by the Nasdaq Hearings Panel; if the Company cannot comply with the conditions for continued listing, the Company's common stock may no longer be approved for trading on the Nasdaq Stock Market, which could adversely affect the liquidity of the trading market for our common stock, and, therefore, could adversely affect the trading price of our common stock; with respect to the Company's review of its internal controls, the Company cannot be certain that it will comply with the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 in a timely manner or that it will be able to assess that the Company's internal controls are working effectively; due to the amount of resources that have been devoted to the Company’s revenue recognition review, the Company is concerned that it may not be able to file its Form 10-K for the year ended December 31, 2004 by the required deadline; the results of our continuing review of our financial statements and completion of our fiscal year 2004 audit; and other risk factors listed from time to time in Datastream's SEC reports, including, but not limited to the "Risk Factors" contained in Datastream's Annual Report on Form 10-K for the fiscal year ended December 31, 2003. Datastream does not have, and expressly disclaims, any obligation to release publicly any updates or any changes in the Company's expectations or any changes in events, conditions or circumstances on which any forward-looking statement is based.