KVH Expands Consumer Product Distribution Channels into Asian Markets.MIDDLETOWN, R.I. -- Eletek Technology of 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. and Can Traders of Singapore to Serve as Distributors for KVH KVH Keith Van Horn (basketball player) KvH Katrina vanden Heuvel (editor; The Nation) Maritime Satellite Communication Products KVH Industries KVH Industries Incorporated is an electronics firm based in Middletown, Rhode Island. The company produces electronic compasses, fiber optic gyroscopes, and control systems for satellite dishes. External Links
"Given the significant maritime business opportunities within the Asian market, this is a logical and exciting expansion of the distribution network for our award-winning marine satellite products," explained Martin Kits van Heyningen, KVH's president and chief executive officer. "While we are still in the early stages of this initiative and the distribution and dealer network will be more fully established over the next several quarters, we are very excited by the prospects for growth in Asia among both recreational and commercial mariners." Eletek Technology Limited (www.eletek.com/en), a leading marine electronic service provider, will serve as KVH's general distributor for China and Hong Kong. Eletek supports sales and service for the breadth of the shipping industry, ranging from recreational and fishing boats to commercial vessels A commercial vessel is defined by the United States Coast Guard as any vessel (i.e. boat or ship) engaged in commercial trade or that carries passengers for hire. This would exclude pleasure craft that do not carry passengers for hire or warships. . At the same time, KVH has selected Can Traders & Services (www.cantrade.com.sg) to oversee sales and distribution opportunities in Singapore. The Asian distribution network will be managed by KVH's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , KVH Europe A/S. "Our TracVision(R) satellite TV systems are capable of supporting Asian regional satellite TV services while our TracPhone(R) systems connect to voice, fax, and high-speed Internet See broadband. services worldwide via the Inmarsat service," explained Mads Bjerre-Petersen, managing director of KVH Europe A/S. "As a result, I believe our robust and versatile products will be highly competitive in the Asian market compared to lower-cost but less capable mobile satellite products currently being distributed by Asian manufacturers." For additional details regarding KVH's award-winning TracVision and TracPhone products, visit http://www.kvh.com. Note to Editors: High-resolution, press-ready images of KVH's entire marine satellite TV and communication product families are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. and editorial use at http://press.kvh.com. About KVH Industries, Inc. Middletown, RI-based KVH Industries, Inc., is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than 100,000 mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. Winner of the prestigious General Motors Innovative Design Award, CES Innovation Award, 21 National Marine Electronics Association "Best Product" awards, and a finalist for the Automotive News PACE Award, KVH's mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. This release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Forward-looking statements include, for example, the anticipated demand of mobile satellite TV and communication technology along with the potential expansion of KVH consumer product sales in the Asian market. The actual results could differ materially. Factors that may cause such differences include KVH's ability to compete effectively in Asia with regard to pricing, service, and support, the effectiveness of KVH's selected Asian distributors in establishing dealer networks and successfully promoting KVH products, as well as those discussed in KVH's most recent Form 10-Q Form 10-Q See 10-Q. filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments. KVH, TracVision, and TracPhone are registered trademarks of KVH Industries, Inc. All other trademarks are the property of their respective companies. |
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