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Innotelco Announces US$2.2 Million Contract
By Market Wire Last Update: 10/25/2005 3:16:55 PM Data provided by
TORONTO, Oct 25, 2005 (MARKET WIRE via COMTEX) -- INNOTELCO, Inc. (ILCO), a marketer and distributor of telecom hardware and network solutions announced today that it has signed a contract with Bus d.o.o. (Preduzeæe za radiodifuziju I telekomunikacije d.o.o. "BUS" Kovin), to provide telecommunication products and accessories to the value of US$2.2 million. The contract calls for Innotelco to supply a variety of cables for telecommunication and television equipment.
"Innotelco is very excited about this relationship, it's our company's first major contract and is a direct result of the successful European trip following the Berlin Trade Show," said Ross Sehovic, CEO. "Our biggest challenge as a company right now is to look at financing options that will help us expand our business and capture a piece of the market in Southeastern Europe."
Further, "We have had to postpone our China trip until the new year because of the need to cultivate a lot of leads as a result of Berlin, in fact management is headed back to Europe shortly for more meetings that we hope will yield positive results."
"The signing of this agreement we believe will give Bus the opportunity to expand its presence and infrastructure in the region and to re-invest in infrastructure and programming, which are one of the aims of the company," said Vladimir Vjestic.
"INNOTELCO -- Building Bridges for Communication"
About Innotelco, Inc.
Innotelco is a telecom hardware supplier, specializing in servicing emerging markets looking to expand their telecommunications networks. Innotelco products range from indoor and outdoor coaxial cables and accessories to fibre optics and switching equipment.
Bus d.o.o has been in the telecommunication and broadcasting business for several years. It is a privately owned registered company that conducts business activities in the broadcasting and telecommunication field. The activities of the company include marketing, public relations consulting, technical consulting, export and import of telecommunication products and accessories, television cable equipment, audio, video production and design. The company is situated in the town of Kovin in the southern most Municipality of Vojvodina. Vladimir Vjestic, who has over 15 years of experience in the telecommunication and broadcasting business, heads the company.
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