UNBELIEVABLE NEWS!!!!! Co,. Maker!here it is!!!!
December 20, 2006 - 01:19:39 PM
Crown Telecom Places a Confirmed Purchase Order for Over CDN$ 67 Million With
WebTech Wireless
BURNABY, BRITISH COLUMBIA--(CCNMatthews - Dec. 20, 2006) - Crown Telecom, a
provider of location-based and fleet Telematics services and WebTech's
exclusive distributor in Brazil, has placed a confirmed purchase order for
490,000 WebTech Locator devices. WebTech Wireless (TSX VENTURE:WEW), a leading
fleet Telematics products and service provider, has accepted the purchase
order worth over CDN$ 67 million with a financial arrangement subject to down
payments and irrevocable Letters of Credit. Shipments are expected to commence
in February 2007 as per an approved shipping schedule for a 12-month period.
The devices will be installed on the assembly lines of Brazilian auto
manufacturers. The "24 Horas" service offers a programme to models assembled
and sold in the Brazilian market by manufacturers for safety and security
purposes. The programme will enable location-based and Telematics services
provided by Crown Telecom once the service is activated at dealerships.
The purchase order is the first among several that Crown Telecom is expected
to place over a period of 5 years as per a 5-year term contract signed between
Crown and WebTech.
"Crown Telecom has crossed the threshold for meeting all the rigorous
requirements demanded by sophisticated customers and has confirmed its ability
to lead the Telematics and location based services in South America,"
commented Jose Antonio S. Pereira Jr., President and Chief Executive Officer,
Crown Telecom. "We offer the "24 Horas" service across Brazil to any vehicle
owner in a position to benefit from insurance discounts on premiums against
implementing our security and safety solution. Our services and technology,
powered by WebTech products and services are an industry benchmark worldwide.
Our infrastructure is state-of-the-art and currently capable of offering the
service to over one million vehicles. Crown Telecom is committed to keep
improving its services and customer care."
"The contract signed with Crown is of the magnitude and size that presents
both organizations with a rare opportunity to become among the few major
players in the Telematics and Location-Based services and products market
worldwide" comments Anwar Sukkarie, President and CEO, WebTech Wireless.
"Crown Telecom has achieved amazing results by following a well-thought out
strategy and solid plan of execution. We look forward to supporting Crown in
their service and products offering in Brazil and elsewhere around the world."
The owner of a new vehicle offered in the Brazilian market by auto
manufacturers will be entitled to up to 35% discount on car insurance premium
upon participating in the "24 Horas" service. Crown Telecom is responsible for
operating and offering the service in Brazil. The security and safety services
could be expanded to include communication and entertainment applications in
opportune timing and is made possible with the flexibility and scalability of
the WebTech products and services.
The Company announces that it will hold a conference call on December 20, 2006
at 1:30 PM Eastern Time and that a recording of the conference call will be
posted on the Company's website at www.webtechwireless.com within 24 hours of
the call. Interested parties may participate in the call by dialing
1-888-575-8232 (US and Canada) or 416-406-6419 (international).
About Crown Telecom
Crown Telecom is the leading independent provider of Telematics solutions for
the automotive industry serving markets in Brazil and other countries in South
America. Crown's Telematics services are designed to enhance the safety,
security and driving experience for consumers while providing marketing and
operational benefits to automobile manufacturers (OEMs) and their dealers.
Crown Telecom pioneered one of the first Telematics service offerings in
Brazil in 2003 and continues to be an innovator in the industry through the
development and successful implementation of new Telematics services and
applications.
About WebTech Wireless Inc.
WebTech Wireless Inc. (TSX VENTURE:WEW) is a global Wireless Services Provider
that develops, manufactures, and delivers turnkey wireless solutions designed
to improve productivity and profitability. WebTech products include wireless
hardware and software services running on cellular and satellite networks, and
include Automatic Vehicle Location, Mapping, Reporting, Vehicle Maintenance,
Driver Status, In-vehicle Telemetry, Messaging, In-vehicle Navigation, and
wireless application and Internet connectivity. WebTech is currently providing
devices and services worldwide in over thirty-seven countries covering five
continents. WebTech's scalable solutions are used by a broad range of small,
medium, Fortune 500 companies and governments.