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21 Sep 2009 11:35
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For immediate release 21Β SeptemberΒ 2009
SerVision plc
('SerVision'Β or the 'Company')
Distribution Agreement
SerVision PlcΒ (AIM:SEV), the AIM listed leading developer and manufacturer of digital security systems, is pleased to announce that it has further expanded its geographical reach throughΒ an exclusive distributionΒ agreement withΒ WiSOLΒ Singapore Pte LtdΒ ("WiSOL"), (the "Agreement").
Under the terms of theΒ Agreement,Β WiSOLΒ hasΒ exclusive rights to distribute SerVision'sΒ video gatewayΒ products inΒ Thailand,Β Indonesia,Β MalaysiaΒ andΒ Singapore.Β TheΒ AgreementΒ isΒ worth up toΒ USDΒ $800,000Β to SerVisionΒ and the first purchase order,Β totallingΒ $198,250,Β has been received by the Company.Β TheΒ AgreementΒ is for an initial term ofΒ one year, which may progress into a furtherΒ oneΒ yearΒ contract at theΒ agreement of both SerVision andΒ WiSOL.Β
In addition, the Company hasΒ won the tender to supply 465 MVG 400 units to the Columbian Police force inΒ Bogota. The contract, whichΒ the Company expectsΒ to be signed in the next two weeks, is worth USD $385,000Β to SerVision.Β A further announcement will be made in due course in relation to the contract with the Colombian National Police Force.
Gidon Tahan, Chairman and CEOΒ of SerVision, commented:
"The additionsΒ ofΒ Thailand,Β Indonesia,Β MalaysiaΒ andΒ SingaporeΒ areΒ major territoriesΒ to addΒ toΒ the geographiesΒ in which SerVision'sΒ products are sold. We are delighted thatΒ WiSOLΒ and the Columbian National Police ForceΒ haveΒ seen the benefitsΒ whichΒ our technologies can bring and we hope this will be the start ofΒ twoΒ profitable relationships.Β "
- Ends -
For more information seeΒ www.servision.netΒ or contact:
|
SerVision plc Eitan Yanuv, Finance Director |
+972 2535 0015 |
|
Allenby Capital Limited Nick Athanas/James Reeve |
+44 (0)207 510 8600 |
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