News » Contract Win Wednesday, May 02, 2007 :: viewed 309 times
RNS Number:9070V
SerVision plc
02 May 2007
SerVision Plc
("SerVision" or "the Company")
SerVision signs contract with Mexican distributor worth $2.3 million
SerVision Plc, the AIM listed leading developer and manufacturer of digital
security systems, is pleased to announce that it has expanded its geographical
reach into Mexico through an agreement with Unixa, a distributor of security
equipment, worth US$2.3 million.
Unixa is now the exclusive distributor of SerVision products in the Mexican
market, whereby SerVision will provide its entire range of SVG, IVG and HVG
equipment as well as the necessary technical training and operational
assistance, concentrating on its three core markets - commercial, transportation
and residential.
Under the terms of the deal, SerVision has currently received US$600k from
Unixa, with the balance to be paid in 3 further installments, the last being due
by the end of April 2008. In addition, there is potential for the distribution
agreement to be extended with exclusivity for a five year period.
Rafael Zaga founder of Unixa, said: "SerVision's products offer the highest
quality remote video surveillance over narrowband and IP networks. The Mexican
market offers tremendous opportunities for SerVision's products and we are
excited to be working with them."
Gidon Tahan, SerVision's Chairman and CEO, commented: "We are delighted to have
signed this agreement and entered into such an exciting market as Mexico. This
follows on the back of our expansion into the French and Benelux markets and
further increases SerVision's exposure in the international security field."
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