News » Distribution Agreement Tuesday, July 03, 2007 :: viewed 346 times
RNS Number:4999Z
SerVision plc
03 July 2007
SerVision Plc
("SerVision" or "the Company")
SerVision expands into South African market through exclusive agreement with
Graphic Image Technologies (Pty) Ltd ("GIT")
SerVision Plc, the AIM listed leading developer and manufacturer of digital
security systems, is pleased to announce that it has further expanded its
geographical reach through an exclusive three year agreement with GIT of South
Africa, worth a minimum US$600k in its first year.
GIT is now the exclusive distributor of SerVision products in the South African
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 received an initial US$150k order
from GIT, with a commitment to a minimum of $600k in the first full year,
increasing by 25% per annum over the remaining two years of the agreement.
Gidon Tahan, SerVision's Chairman and CEO, commented: "At the time of our full
year results we stated that we would look to increase our geographical reach
even further. This agreement is evidence that our sales are continuing the
momentum of last year and we are delighted to be entering the South African
market with GIT."
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