21st Mar 2007 20:35
Telit Wireless Solutions, Inc., the US-based mobile technology armof Telit Communications (AIM: TCM), and Bartolini After MarketElectronics Services (BAMES) today announced that BAMES will serve asthe exclusive European manufacturer of Telit's wireless communicationmodules. BAMES will also invest 16 million Euros in Telit's machine tomachine (m2m) business. £ BAMES is the former Italian subsidiary of Celestica Inc., theworld leader in the delivery of innovative electronics manufacturingservices. Their subsidiary, Services for Electronic Manufacturing(SEM), will be the electronics manufacturing arm for the twocompanies. SEM will completely take over the present and futureproduction of Telit's wireless communication modules at competitivemarket prices for a term of not less than five years. This will enableTelit to focus its European manufacturing into one geographicallocation. In addition, this move streamlines operations while keepingcontrol of the company's intellectual property and increasing itscontrol over its supply chain. £ "This is a milestone agreement which will help us immensely.Consolidating our manufacturing will help us react more efficiently tocustomer requests," said Roger Dewey, President and CEO of TelitWireless Solutions, Inc. "This will enable Telit to continue therollout of our global strategy focusing on the rapidly growing m2mmarket while consolidating our international expansion." £ "This once again demonstrates Telit's commitment to providing ourcustomers with the most innovative, cost-effective solutions in theM2M market," states Oozi Cats, Chief Executive Officer, TelitCommunications plc, the parent company of Telit Wireless Solutions,Inc. "The investment from BAMES will also support Telit in maintainingits position as main challenger on the global market." £ About Telit Communications £ Telit is a leading global wireless communications technologycompany. Its Wireless Solutions division develops manufactures andmarkets GSM/GPRS, UMTS/HSDPA and CDMA/EVDO modules formachine-to-machine (m2m) applications which enable machines, devicesor vehicles to communicate via mobile networks. Telit modules aremarketed and deployed worldwide. Telit Communications plc is listed onthe London Stock Exchange Alternative Investment Market (AIM) (code:TCM). For more information about the company, please visitwww.telit.com. Copyright Business Wire 2007Related Shares:
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