28th Nov 2008 07:00
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Date: |
28 November 2008 |
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On behalf of: |
Avanti Communications Group plc ("Avanti" or "the Company") |
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Embargoed until 7.00 a.m. |
Avanti Communications Group plc
Avanti Communications Group plc (AIM: AVN), the broadband satellite operator, has signed a contract to supply wholesale broadband services to Satconexion SL of Spain. As a wholesaler (the entry level of contract for Avanti's services), Satconexion has made a minimum order commitment of €100,000 but we expect to generate much higher volumes than this minimum commitment in the very attractive Spanish market. Satconexion will begin to buy Avanti's products immediately, transferring customers onto HYLAS on launch.
David Williams, Chief Executive of Avanti, said:
"We are very pleased with our accelerating momentum in signing distribution partners, which gives us confidence in meeting our pre-sales objectives. We now have 25 distribution partners in 10 countries in Europe with levels of commitment ranging from €100,000 to £9 million. Satconexion are a well established and respected company in our industry and we are delighted they have chosen our product."
Enquiries to:
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Avanti Communications Group plc |
www.avantiplc.com |
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David Williams |
020 7749 1600 |
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Redleaf Communications Ltd |
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Emma Kane / Samantha Robbins / Paul Dulieu |
020 7566 6700 |
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Cenkos Securities |
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Ivonne Cantu / Julian Morse |
020 7678 8000 |
Notes to Editors:
About Avanti Communications
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Avanti Communications Group plc is the only licensed Fixed Satellite Services operator headquartered in the UK (and one of only eight such groups operating in Europe); |
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Avanti sell satellite broadband services to wholesale customers targeting consumer, enterprise and institutional markets. |
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Avanti's first satellite, called Hylas is under construction and due for launch in 2009; the company plans further satellite projects. |
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Avanti, which has more than 10 years' experience in the satellite industry, currently provides satellite broadband services to customers in Europe using leased satellite capacity which it will transfer to Hylas on launch. |
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No further funding is required for the Hylas project following successful completion of a long term debt facility in July 2007. |
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The European Commission has set aside funding for rural broadband projects in 79 regions across Europe with a total value of €1.8 billion over the next five years. |
About Satconexion
Satconexion has been established for over ten years specialising in the supply of satellite internet connectivity to government, corporate and residential users. It has a distribution network of 50 specialized telecommunications and network dealers and integrators as well as over 400 satellite installation engineers covering Spain, Europe, Middle East and North Africa.
Related Shares:
AVN.L