SOFTWARE RADIO TECHNOLOGY PLC
("SRT" or the "Company")
US$665,000 Order received from China
SRT is pleased to announce that it has received an order worth US$665,000 along
with the associated security deposit payment from one of its new Chinese
partners.
The order is for SRT's Class B module and will be shipped to the customer
within the month of April, bringing the total orders received from Chinese
based customers to approximately US$800,000 in the last six weeks.
Last year SRT announced an evolution of its strategy in China to form more long
term strategic partnerships with local companies. The opportunity in China for
AIS is significant with a local market worth an estimated US$150 million over
the next four years due to the national mandate.
Simon Tucker, CEO of SRT, said, "I believe we are starting to see the fruits of
our revised strategy for China. Clearly this is a big and challenging market
for us, but I feel the combination of our strong local partnerships and our new
technologies put us in a strong position to win a significant share of this
market. Timing is always an issue, and we have been surprised by the size of
this order as this had not been expected so soon. I expect demand from our
Chinese customers to remain irregular due to the dynamics of the local market."
-ends-
Enquiries:
Software Radio Technology plc +44 (0)1761 409500
Simon Tucker simon.tucker@softwarerad.com
Chief Executive Officer
Westhouse Securities Limited +44 (0)20 7601 6100
Tim Feather
Matthew Johnson
Leander PR +44 (0)7795 168 157
Christian Taylor-Wilkinson
About SRT:
Software Radio Technology plc, develops advanced radio communications
technologies which are used to create enabling modules and OEM products. SRT
Marine Technology Limited focuses on VHF and AIS technologies for use in
navigation and homeland security identification and tracking applications. SRT
Marine Technology provides its solutions in a variety of module and OEM product
formats.