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INNOTELCO Announces Contract With AB TECHNICS30 November 2005
Innotelco, Inc. (OTC: ILCO), a marketer and
distributor of telecom hardware and network solutions, announces today that
the company has signed a contract with AB Technics.
Innotelco is pleased to announce that the Letter of Intent (LOI) signed
with AB Technics for US$D 4.7 million over a two year period is now a firm
contract with initial orders to commence in 2006. The contract calls for
Innotelco to supply AB Technics with products for use in their
reconstruction projects. One of the projects completed in the past was the
building of a US Embassy in Bosnia and Herzegovina and they are currently
working on the construction of a new parliamentary building for the
government in Sarajevo. AB Technics is also a front-runner in providing
reinforcement of the telecommunication network in Bosnia and Herzegovina.
"Innotelco is proud to be associated with a company that is at the
forefront of the reconstruction program after the war," said Ross Sehovic,
CEO. "AB Technics has positioned itself to be on the leading edge of the
latest technology by investing in up to date machinery and equipment."
Further, "Innotelco's
Vice-President of Sales and Marketing will be leaving for Europe to meet
with Senior Management of AB Technics to finalize contract details in early
December."
About AB Technics
AB Technics is a private company that was founded in 1991 under the name
"Termostroj" and since 1995 has been operating under the present name of
"AB Technics". They specialize in design engineering, turn-key projects
and execution of all phases of work. Of the 230 staff members employed by
the company technical staff make up one third of their employment force.
The Company's head office is located in Sarajevo, along with one branch
office and warehouse facility.
AB Technics is a well-known development company in the region that has been
part of the EC reconstruction programme in Bosnia and Herzegovina for the
last twelve years. This programme was under the European Commission and
World Bank auspices, with the support of the European Commission.
Contact:
Mr. Haris Babic, General Manager
E-mail: adiselma@bih.net.ba
Telephone: +387(0)33713360
"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.
Safe Harbor Statement
This press release contains forward-looking statements as defined in the
Securities Litigation Improvements Act of 1996. The words "believe,''
"expect,'' "estimate,'' "project'' and similar expressions define
forward-looking statements, which speak only as of the date the statement
was made. Innotelco, Inc. undertakes no obligation to publicly update or
revise any forward-looking statements, whether because of new information,
future events or otherwise. Forward-looking statements are currently
subject to risks and uncertainties, some of which cannot be predicted or
quantified. Future events and actual results could differ materially from
those set forth in, contemplated in, or underlying the forward-looking
statements. The risks and uncertainties to which forward-looking statements
are subject include, but are not limited to, the Company's ability to meet
its projected growth, the effects of government regulation, competition and
other material risks.
Contact:
Innotelco, Inc.
Ross Sehovic
416-259-8444
Website: www.innotelco.com
Mr. Haris Babic
General Manager
E-mail: adiselma@bih.net.ba
Telephone: +387(0)33713360
SOURCE: INNOTELCO INC
Source: Marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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