Last checked at 16 Mar 2010 07:00
SOFTWARE RADIO TECHNOLOGY PLC ("SRT" or the "Company") Commencement of AIS Mandate in Turkey
Software Radio Technology plc ("SRT" or the "Company") is pleased to announce that it has received orders of US$290,000 for AIS modules following the commencement of a mandate for certain commercial vessels in Turkey to be fitted with AIS transceivers.
The mandate requires approximately 15,000 commercial vessels to fit a customised AIS transceiver over the next 18 months. The objective of this mandate is to improve maritime safety and security.
SRT has formed agreements with strategic partners who will use SRT's range of AIS modules to manufacture locally AIS transceivers which meet the required specification.
Simon Tucker, SRT CEO said, "This order represents less than 10% of the total market opportunity created by this mandate and given our partnerships in this country we expect there to be more significant orders in the coming year. We have been working with our Turkish partners for over two years and we are delighted that the mandate has now come into force. We hope that this could provide the foundation for wider mandates in Turkey and nearby countries in the future."
-ends- Enquiries: Software Radio Technology plc +44 (0)1761 409500 Simon Tucker simon.tucker@softwarerad.com Group Managing Director Westhouse Securities Limited +44 (0)20 7601 6100 Tim Feather Matthew Johnson About SRT:
Software Radio Technology plc, develops advanced radio communications technologies which are used to create enabling modules and OEM products. SRT Marine Technology Limited focuses on VHF and AIS technologies for use in navigation and homeland security identification and tracking applications. SRT Marine Technology provides its solutions in a variety of module and OEM product formats.
vendor