Tenix Investments takes stake in Reino

Reino International, Sydney-based winner of the 2002 Premier's NSW Exporter of the Year Award for Small to Medium Manufacturers, is today pleased to announce that Tenix Investments has become a substantial shareholder in the company following completion of due diligence. Strong synergies between the two companies are evident with Reino International a provider of on-street parking and enforcement solutions and Tenix (through business unit Tenix Solutions) with a commanding position within the infringement processing and public sector outsourcing arenas.
Reino.jpgReino International continues to enjoy substantial success with its award winning product range in Australia, New Zealand, the United States and South East Asia. The company's valued international client base has recently grown to include the cities of San Francisco, Portland and Providence in the U.S. as well as Ipoh and Kangar in Malaysia.

Tenix Investments is part of the Tenix Group, the largest Australian owned defence and technology company, with assets over $1 billion and forward orders in excess of $1.5 billion. Tenix employs more than 3,000 people in defence and commercial business units operating throughout Australia, New Zealand, the United States and the Philippines.

The Tenix Investments investment in Reino International will provide significant additional value and global capability. Reino will immediately benefit from:

1. Access to further capital to fund growth opportunities, acquisitions and technological innovation;

2. The continued global development of the organisation's capability; and

3. Strong synergies with Tenix infringement processing and public sector outsourcing activities, providing opportunities for the cross selling and delivery of fully integrated parking management solutions.

Coinciding with the investment I am also pleased to announce the continued expansion of Reino International's corporate structure with the appointment of Mr. Roger Price to Chief Executive Officer and the company founder, Syd Reinhardt, to International President. Mr Price has an extensive background in the management of technology based product and service companies, most recently serving as Reino international's Chief Operating Officer. I am also pleased to announce that Mr. Trevor Bourne, Chief Executive Officer of Tenix Investments, will join the Reino board.

Patrick Allaway
Chairman, Reino International
Sydney, February 2003
Contact
From
Reino
Website
www.reino.com.au
Date
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