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20 Nov 2015 07:00
20 November 2015
SerVision plc
("SerVision" or the "Company")
New Orders in Portugal and the Netherlands
SerVision (AIM: SEV), the AIM quoted developer and manufacturer of digital video security systems, is pleased to announce that it has, following a tender process, received two new orders from existing distribution partners, valued at a total of approximately EUR 230,000.
The first new order is to supply 150 MVG400 units for a fleet of buses in Portugal, through its distribution partner, ENA Portugal - Telecommunications Systems ("ENA"). The bus fleet is operated by STCP, which is Portugal's second largest bus operator with a fleet of approximately 480 vehicles. The value of the current order is EUR 111,750 and SerVision has received a 25% payment from ENA with the balance to be received at the time of shipment. This is the second project that SerVision has worked on with ENA following over 40 buses operated by STCP being fitted with the Company's MVG product in 2010.
The second new order is for 300 HVG400 units to be installed in custom-built mobile trailers that are deployed at construction sites across the Netherlands. The Company is working with its distributor Tedas Security Solutions BV ("Tedas"), which specialises in supplying complex video security systems to its customers and has been purchasing systems from SerVision since 2008. Over 500 HVG systems were supplied to the same customer, BouWatch, a site security company, in 2014. The value of the current order is EUR 119,500 and SerVision has received the cash for the order which was shipped to Tedas on 18 November 2015.
Gidon Tahan, Chairman and CEO of SerVision, commented, "We are pleased to be working with these two existing distribution partners of SerVision and we believe both of their customers could provide opportunities in the future for us to supply more units of our video security systems."
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SerVision plc | +972 2535 0000 |
Gidon Tahan, Chairman and CEO
| |
Allenby Capital Limited (Nominated Adviser and Joint Broker) | +44 (0)20 3328 5656 |
Nick Athanas / James Reeve |
Beaufort Securities Limited (Joint Broker) | |
Jon Levinson / Elliot Hance | +44 (0)20 7382 8300 |
Cadogan Leander (Financial PR) | |
Christian Taylor-Wilkinson | +44 (0)7795 168 157 |
Notes to Editors
SerVision is a pioneer in the field of security communications technology and a leading developer and manufacturer of fully integrated video recording and transmission systems for homeland security and transportation applications. The Company's core technology is proprietary video compression which is optimised for streaming real-time video over any type of cellular or narrowband network.
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