MONTREAL, Feb. 12 /CNW Telbec/ - Prestige Telecom Inc. ("Prestige" or "the Company") (TSX-V: PR) is pleased to announce that it has purchased all the assets of Network Utility Services ("Network Utility"), an engineering firm based in St. John's, Newfoundland that provides engineering services to companies in the telecommunications services industry. Network Utility services include outside plant engineering and design for both aerial and underground network infrastructure construction.
"The acquisition of Network Utility is another step towards strengthening our capabilities in Eastern Canada," said Pierre Yves Methot, Chairman and CEO of Prestige. "We are very pleased to have Jai Burton and his team join us at Prestige as we continue to build on our leadership position in providing outside plant engineering services to the telecommunications and cable TV industries."
"This is a great opportunity for Network Utility's team to grow within a fast-growing company like Prestige and to benefit from a larger pool of knowledge and resources," said Jai Burton, President of Network Utility Services. "We are proud to help Prestige Telecom pursue its growth strategy to become the outsource partner of choice to the Canadian telecommunications industry." Mr. Burton will remain under contract to Prestige.
Network Utility's team is comprised of professional engineers, engineering technicians, surveyors, CAD technicians, geographical information systems technicians and construction administration professionals who have extensive knowledge of the telecommunications Industry and years of experience successfully completing outside plant design projects in Eastern Canada.
Network Utility is proficient in all areas of outside plant design including aerial and underground networks, infrastructures and turn-key projects. Network Utility's comprehensive engineering design services include: Route Feasibility and Planning Studies; Surveys and Mapping; Direct Buried Duct and Concrete Encased Conduit Systems; Specialized Permitting including Municipal, Provincial & Federal Agencies, Utility Crossings, Waterways and Rail; Aerial and Underground Copper and Fibre Optic Design; AutoCAD and MicroStation Services; IMAGE, SAP and CET Proficiency; Field Inspection and As-Built Drawings and Documentation.
About Prestige Telecom Inc.
Prestige Telecom is a leading provider of network engineering, materials furnishing, installation and support services (commonly referred to as EF&I services) required to construct, operate and maintain wireline, wireless and cable television networks. Prestige assists telecommunications original equipment manufacturers and service providers to engineer, install and upgrade their infrastructures to support enhanced voice, high speed data and video services. Prestige Telecom also provides technical and aerial services to the Canadian communications and broadcast industries, including tower supply, engineering, site construction, and infrastructure and equipment maintenance.
In Canada, Prestige has over 900 professional and technical personnel operating from sixteen service locations in eight (8) provinces. Prestige's head office is located in Baie d'Urfé (Montreal), Quebec.
This press release contains certain forward-looking statements with respect to the Company. Such forward-looking statements are dependent upon a certain number of factors and are subject to risks and uncertainties. Management does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except when required by the regulatory authorities.
The TSX Venture Exchange accepts no responsibility for the adequacy or the accuracy of this press release.
SOURCE PRESTIGE TELECOM INC.
For further information: For further information: Pierre Yves Methot, Chairman and Chief Executive Officer of Prestige, (514) 457-4488, Ext. 277, firstname.lastname@example.org; www.prestige-tel.com