Canadian SR Telecom receives $16 million Saudi orders
The Toronto-based SR Telecom Inc. announced that it has received orders in excess of $16 million from various customers in the Kingdom of Saudi Arabia since the beginning of the year. Included in this total is a services and equipment contract worth eight million dollars signed this week.
A significant portion of these orders has been placed by Lucent Technologies for delivery in Saudi Arabia. Under terms of the contract, SR Telecom will provide its SR500 point-to-multipoint system and will perform certain installation services. The majority of equipment deliveries are expected to be completed during the current fiscal year.
These orders are unrelated and in addition to, the $100 million frame contract with Saudi Telecom Company (STC) that was announced in August 2001. "The STC contract is progressing according to plan. We are presently entering the installation stage of the first phase of the contract," said Pierre St-Arnaud, president and chief executive officer.
SR Telecom's SR500 is a high-capacity point-to-multipoint fixed wireless access system used to supply voice, data and Internet access to national, enterprise and rural telephone networks. SR Telecom provides equipment, network planning, project management, installation and maintenance services. Its PMP wireless telecommunications systems are used in over 110 countries, serving telecom operators worldwide. — (menareport.com)
© 2002 Mena Report (www.menareport.com)