Andrew Acquires Deltec's Teletilt Business; New Technology and New Zealand Base Adds to Andrew Corp.'s Global Presence.Business Editors ORLAND PARK Or·land Park A village of northeast Illinois, a residential and manufacturing suburb of Chicago. Population: 53,300. , Ill.--(BUSINESS WIRE)--July 20, 2001 Andrew Corporation Andrew Corporation is an American multinational producer of communications devices. Andrew is a global designer, manufacturer, and supplier of communications equipment, services, and systems. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ANDW) announced that it has acquired the selected assets of Deltec Telesystems International, Ltd. of Wellington, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . The acquisition brings to Andrew the assets of Deltec's Teletilt(TM) sales and development division including its intellectual property and the product development facility in Wellington. "Our strategy is to take the Teletilt patented remote electrical downtilt antenna technology and integrate it into our existing product set," said Jim Giacobazzi, Andrew Corp.'s Vice President, Base Station Antennas, Filters, and Combiners. "The newly acquired intellectual property puts Andrew in a leadership position for remote electrical downtilt antennas. This is the technology that will help us to lead the roll-out of 3G network infrastructure." The Teletilt product range provides mobile phone network operators with base station antennas that can be remotely reconfigured to handle changing network demand. Deltec's Teletilt division has a strong market position with this technology in Australasia and Asia. Last year, Deltec was named New Zealand's Hi-Tech Growth Company of the Year and the winner of New Zealand's Supreme Hi-Tech Award. "The Teletilt range perfectly complements our existing RF subsystems portfolio," added Giacobazzi. "We will develop the Wellington facility into a center of excellence for advanced antenna systems that complements our existing antenna products and enhances our strong global reach." "Andrew has the global scale and reach to take Teletilt technology and use it to take a significant share of the global mobile telecommunications market," said Deltec CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jim Donovan Jim Donovan may refer to:
In New Zealand, about 35 former Deltec employees will transfer to Andrew. They will be located at the Wellington facility. With the acquisition of Deltec assets, Andrew Corporation's presence in Asia and Australasia now includes manufacturing facilities in Australia, China, and New Zealand, and a network of sales offices in Australia, China, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Indonesia, Japan, Malaysia, New Zealand, Singapore, and Taiwan. Worldwide, the company now has 72 locations in 28 countries. Forward Looking Statements Some of the statements in this news release are forward looking statements and we caution our stockholders and others that these statements involve certain risks and uncertainties. Factors that may cause actual results to differ from expected results include, but are not limited to the effects of competitive products and pricing, economic and political conditions that may impact customers' ability to fund purchases of our products and services, the company's ability to achieve the costs savings anticipated from cost reduction programs, fluctuations in international exchange rates, the timing of cash payments and receipts, end use demands for wireless communication services, and other business factors. Investors should also review other risks and uncertainties discussed in company documents filed with the Securities and Exchange Commission. Andrew Corporation is a global supplier of communications systems equipment and services. Major markets are wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. -- which includes cellular, personal communications services See PCS. , and land mobile radio -- broadcast, and common carrier. Andrew is an S&P 500 company whose common stock trades on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (R) under the symbol: ANDW. For further information on Andrew products and services, including the text of this release, visit our Web site at http://www.andrew.com For Deltec products and services visit their Web site at http://www.deltec-telesystems.com. |
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