Business
US$665,000 Order received from China
US$665,000 Order received from China.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \n SOFTWARE RADIO TECHNOLOGY PLC \n\n (\"SRT\" or the \"Company\") \n\n US$665,000 Order received from China \n\nSRT is pleased to announce that it has received an order worth US$665,000 along\nwith the associated security deposit payment from one of its new Chinese\npartners.\n\nThe order is for SRT's Class B module and will be shipped to the customer\nwithin the month of April, bringing the total orders received from Chinese\nbased customers to approximately US$800,000 in the last six weeks.\n\nLast year SRT announced an evolution of its strategy in China to form more long\nterm strategic partnerships with local companies. The opportunity in China for\nAIS is significant with a local market worth an estimated US$150 million over\nthe next four years due to the national mandate.\n\nSimon Tucker, CEO of SRT, said, \"I believe we are starting to see the fruits of\nour revised strategy for China. Clearly this is a big and challenging market\nfor us, but I feel the combination of our strong local partnerships and our new\ntechnologies put us in a strong position to win a significant share of this\nmarket. Timing is always an issue, and we have been surprised by the size of\nthis order as this had not been expected so soon. I expect demand from our\nChinese customers to remain irregular due to the dynamics of the local market.\"\n\n -ends- \n\nEnquiries: \n \nSoftware Radio Technology plc +44 (0)1761 409500\n \nSimon Tucker [email protected]\n \nChief Executive Officer \n \nWesthouse Securities Limited +44 (0)20 7601 6100\n \nTim Feather \n \nMatthew Johnson \n \nLeander PR +44 (0)7795 168 157\n \nChristian Taylor-Wilkinson \n\nAbout SRT:\n\nSoftware Radio Technology plc, develops advanced radio communications\ntechnologies which are used to create enabling modules and OEM products. SRT\nMarine Technology Limited focuses on VHF and AIS technologies for use in\nnavigation and homeland security identification and tracking applications. SRT\nMarine Technology provides its solutions in a variety of module and OEM product\nformats.\n ","length":3283,"tagName":"div"}]