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INNOTELCO Inc. Announces Letter of Intent to the Value of USD$4.7 Million11 November 2005
INNOTELCO, Inc. (OTC: ILCO), a marketer and
distributor of telecom hardware and network solutions, announces today that
it has entered into a Letter of Intent with AB Technics to provide cable
products valued at USD$4.7 million over a period of two years.
"We believe that the potential result of entering into this Letter of
Intent with AB Technics Company will develop the beginning of a positive
discussion for future relations," said Ross Sehovic, CEO.
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.
"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
AB Technics:
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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