Last checked at 5 Aug 2011 07:00
SOFTWARE RADIO TECHNOLOGY PLC ("SRT" or the "Company") Strategic agreement signed with Indian customer
Software Radio Technology is pleased to announce that it has entered a strategic partnership agreement with Elcom Marine Services Pvt. Ltd ("Elcom") of India.
The agreement is a partnership between Elcom and SRT to target the Indian market with SRT's range of vessel mounted AIS transceivers.
Following the terrorist attack in November 2008 when gunmen arrived in Mumbai in a hijacked fishing boat, the Indian authorities have commenced the implementation of a nationwide coastal security programme, which includes the fitting of all vessels with a tracking device monitored from a shore based network. This programme will require up to an estimated 300,000 vessels to be fitted.
Simon Tucker, CEO of SRT, said, "Elcom has a contract with the Indian government to install the national AIS coastal monitoring network which is expected to be completed in 2012, providing total AIS monitoring along the entire coast line of India. Their deep knowledge and understanding of both AIS and the local market and authorities make Elcom an ideal local partner for SRT, whilst our wide range of AIS solutions makes SRT an ideal partner for Elcom. This agreement provides a clear framework of terms and conditions under which we will jointly co-operate to secure the available business in India in the coming months and years. I believe that this is an important strategic agreement for us both given the size of the market opportunity."
-ends- Enquiries: Software Radio Technology plc +44 (0)1761 409500 Simon Tucker simon.tucker@softwarerad.com Chief Executive Officer Westhouse Securities Limited +44 (0)20 7601 6100 Tim Feather Matthew Johnson Leander PR +44 (0)7795 168 157 Christian Taylor-Wilkinson 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.
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