Last checked at 22 Mar 2010 07:00
SOFTWARE RADIO TECHNOLOGY PLC ("SRT" or the "Company") US$1.46 million Class A Orders Received
Software Radio Technology plc ("SRT" or the "Company") is pleased to announce that it has received orders worth US$1.46 million for its new AIS Class A transceiver product, together with order confirmation payments.
The orders are from recently signed customers and product deliveries are expected to start from May 2010 upon commencement of volume production.
AIS Class A is a specific type of AIS product which is primarily used by larger commercial vessels. Following the 2002 IMO (International Maritime Organisation) mandate, Class A transceivers were required to be fitted to most vessels worldwide over 300 tonnes. The AIS Class A transceiver is considerably more complex than a Class B transceiver and requires much more rigorous formal testing and approvals.
Market demand for Class A transceivers is driven by commercial factors such as operational efficiency and safety, as well as specific mandate requirements around the world. For example, over the next 18 months the EU Inland Waterway Mandate requires certain commercial vessels operating along the Rhine to install an approved Class A transceiver by the end of 2011, thereby creating a single market worth approximately US$30 million over the next 18 months.
Simon Tucker, SRT CEO said, "I believe we are ahead of the market with our new Class A product. We started this complex development over 18 months ago and our development team has done a wonderful job to deliver a product which is of high quality and performance, but considerably smaller and lower cost than existing products in the market. Our established international sales network and reputation has enabled us to launch the product quickly and secure these initial orders. Although the EU Inland Waterway opportunity is a significant and well timed opportunity for us, we expect many of the pending mandates to require a mixture of Class A and Class B type transceivers and SRT is now able to accommodate them all."
-ends- Enquiries: Software Radio Technology plc +44 (0)1761 409500 Simon Tucker simon.tucker@softwarerad.com Group Managing Director Westhouse SecuritiesLimited +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.
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