MONTREAL, Feb. 11 /CNW Telbec/ - Mitec Telecom Inc. ("Mitec") (TSX: MTM), a leading designer and manufacturer of mobile wireless, fixed wireless, broadcast and satellite components, announced today that it has received a new order for its VSAT MTX Block Upconverter product line. This order represents a new territory win for Mitec's recently released MTX equipment.
The equipment will be used as part of a GSM cellular backhaul system in South America, which is part of a government mandate to expand rural cellular coverage in this region. "We are very pleased with the international attention that Mitec's MTX product line has been able to attract since we launched it last year", said Robert Mitchell, Vice President, Global Marketing and Sales for Mitec. "Having already delivered the product in volume for other major network build-outs in Asia and Africa, we are pleased to see a significant opportunity in another emerging market such as South America. The global demand for reral coverage expansion is a huge opportunity for Mitec and many of its products. We are also pleased that the customer has identified how Mitec can be part of their on-going communications infrastructure initiatives slotted for later this year and we continue to work with other South American mobile operators for similar opportunities".
Since its introduction, the MTX product line has steadily gained momentum in the market as a preferred solution for satellite networks and cellular backhaul applications. Using research and development developed in its Montreal facility, Mitec embarked upon a plan to design and introduce a new line of VSAT products aimed at differentiating itself from competitors. "Each product feature, specification and detail was carefully planned to offer our customers tangible value. Having completed the major development and attained a top ranking position in this market, we are poised to see dividends from our investment from steadily increasing market penetration going forward", said Mitchell.
About Mitec Telecom Inc.
Mitec is a leading designer and provider of radio frequency (RF) products for the telecommunications and satellite communications industries, as well as a variety of other sectors. Mitec sells its products worldwide to network providers for incorporation into high-performing wireless networks used in voice and data/internet communications. Headquartered in Montreal, Canada, Mitec also operates facilities in California and China. Mitec is listed on the Toronto Stock Exchange under the symbol MTM. On-line information about Mitec is available at www.mitectelecom.com.
Due to confidentiality provisions, Mitec is generally not able to disclose the names of its major customers or the financial data related to sales transactions. Certain statements in this release, including statements regarding future results and performance, are forward-looking statements based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for Mitec's products, fluctuations in selling prices and adverse changes in general market and industry conditions and other factors listed in Mitec's public filings with the appropriate securities regulatory authorities.
SOURCE Mitec Telecom Inc.
For further information: For further information: Mr. Jeffrey Mandel, Executive Chairman and Director, Investor and Corporate Relations, (514) 694-9000, firstname.lastname@example.org; Source: Mitec Telecom Inc.