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24 Nov 2009 13:03
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24Β NovemberΒ 2009
SerVision plc
('SerVision'Β or the 'Company')
NewΒ Distribution AgreementΒ in Brazil
SerVisionΒ plc (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 through an exclusive distribution agreement with Guvision Monitoramento LTDA ("Guvision"), (the "Agreement").
Under the terms of theΒ Agreement,Β GuvisionΒ hasΒ exclusive rights to distribute SerVision'sΒ video gatewayΒ products inΒ Brazil. TheΒ AgreementΒ is for an initial term ofΒ twoΒ yearsΒ and is for the supplyΒ of 10,000Β productsΒ to GuvisionΒ overΒ thisΒ period.Β It is expected that theseΒ purchase orders will be fulfilled by Guvision on a quarterly basis. The Agreement may be extended by a further two years subject to Guvision increasing their annual purchase commitment by 25 per cent. An advanced payment ofΒ $535,655Β has been received by the Company and the first purchase order,Β totalling $139,850, has been fulfilledΒ by the Company.Β This order included the supplyΒ of 180 MVG 400 units.
Contract with Columbian National Police Force
FurtherΒ to the announcement released by the Company on 21 September 2009 and the update contained in the Company's interim results released on 30 September 2009,Β the CompanyΒ is pleased to announce thatΒ it hasΒ signed aΒ contract to supplyΒ the Columbian National Police Force with a total ofΒ 697Β MVG 400 units.Β The total value of the contractΒ to SerVisionΒ isΒ $397,897.
Gidon Tahan, Chairman and CEOΒ of SerVision, commented:
"The additionΒ ofΒ Brazil is aΒ majorΒ territoryΒ toΒ addΒ toΒ the geographiesΒ in which SerVision'sΒ products are sold. We areΒ alsoΒ delighted thatΒ the Columbian National Police ForceΒ haveΒ been impressed with our technologies and decided to order more units. We hope this willΒ continue and that we can supply them with further products in the future."
- Ends -
For more information seeΒ www.servision.netΒ or contact:
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SerVision plc Eitan Yanuv, Finance Director
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+972 2535 0015 |
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Allenby Capital Limited Nick Athanas/James Reeve
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+44 (0)20Β 3328 5656
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Old Park Lane Capital plc Forbes Cutler |
+44 (0)20 7518 2603 |
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