Last checked at 22 Oct 2010 07:00
22 October 2010
Ultima Networks plc.
("Ultima" or the "Company")
New order for Green Technology Products Division
The Board of Ultima, the IT and Green Technology Company, are very pleased to announce that UTN (The Green Technology Products division) has received a major new order for its mainland European version of the successful Infineum electric bicycle. The order has an initial value of €130,000 to Ultima to be delivered by December 2010. The bicycle is being marketed by the division's Dutch distributor, EQ-Bikes, and the Board expect total volumes through the distributor to reach 2,500 units during calendar year 2011.
Wazz Mughal, managing Director of UTN, said "The Infineum- Continental range of electric bicycles have been specially designed for the BENELUX region which provides a huge potential market for the Infineum -Continental range of custom designed bicycles"
Enquires:
Ultima Networks plc | 01279 821200 |
Prof. Humayun Mughal | |
Allenby Capital Limited (nominated adviser and broker) | 0203 328 5656 |
Nick Naylor | |
Nick Athanas | |
Alex Price |