STM WIRELESS, INC. announces long-term sales agreement in India with HFCL Satellite Communications Ltd.IRVINE, Calif.--(BUSINESS WIRE)--Dec. 26, 1995--STM WIRELESS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (STM (Scanning Tunneling Microscope) A microscope that can image down to the atomic level. An STM uses a piezoelectric tube with a tiny sharp tip at the end that is moved within nanometers of the object being sampled. ) (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 NM Symbol:STMI STMI Synchronous Transport Module I (also seen as STM-I) STMI Spectro-Temporal Modulation Index STMI Statute Mile STMI Single Table with Multiple Index Access ), a leading provider of satellite and wireless communications products, networks and services for the international market, today announced that it has signed a long-term sales agreement valued at $60 Million with HFCL HFCL Himachal Futuristic Communications Limited Satellite Communications Ltd. (HSCL HSCL Health Science Center Library HSCL Health and Safety Click Ltd (UK) ) in India. HSCL is a joint venture in India between Himachal Futuristic Communications Ltd. (HFCL) and Wireless Telecom Ltd., which itself is partly owned by STM. The agreement is to purchase network communications equipment for voice and data applications for installation in India. Shipments are anticipated to commence in 1996 with the contract being completed in 1998. Revenues to STM are expected to be approximately $7 Million for fiscal 1996 with the remainder of approximately $53 Million spread equally between fiscal 1997 and 1998. Long-term commitments of this nature are subject to continuation of the favorable regulatory climate in India. This agreement is STM's second order from HSCL. The company is currently shipping approximately $500,000 of its DAMA 10000 full mesh satellite network equipment to satisfy an order received earlier in the year. Himachal Futuristic Communications Ltd. is a rapidly growing Indian communications company. HFCL was a successful bidder in the recent auctions in India for both cellular and basic telephony services. As a result, they have been awarded one cellular license and three "circles" for basic telephony service including India's capital city, Delhi. Emil Youssefzadeh, president and 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. of STM, stated, "This important agreement is the result of STM's successful strategy to establish relationships and joint ventures with strong local partners. This contract cements the relationship with HSCL and allows both parties to coordinate activities and develop long-term plans. India continues to be an extremely exciting market for us and we anticipate further success as the deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. and privatization of the Indian communications marketplace progresses." STM Wireless, Inc., headquartered in Irvine, is a leading manufacturer of wireless communications products, including very small aperture terminals (VSATs), transceivers, modems and other networking equipment. STM products are designed to support data, fax, voice and video networks requiring cost-effective connections. The company's proprietary equipment and software are installed in North America, Latin America, Europe and the Asia/Pacific. The company also sells services to customers on networks it owns and operates. CONTACT: STM Wireless Inc., Irvine Frank T. Connors, 714/753-7864 or Lippert/Heilshorn & Associates, New York Keith Lippert/Bharti Malkani, 212/838-3777 |
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