MDI, Inc. Announces $300,000 Product Order from Almana Networks
Thursday May 29, 12:46 pm ET
Seventh Order This Month is in Partial Fulfillment of $5 Million 2008 Revenue Commitment
SAN ANTONIO--(BUSINESS WIRE)--MDI, Inc. (NASDAQ:MDII - News) announced today that its MDI Security Systems Division (MDI) has received an additional $300,000 product order from international technology solutions integrator Almana Networks (Almana), based in Doha, Qatar. This product order is the seventh purchase announced this month that has been placed toward partial fulfillment of a $5 million revenue commitment, made by Almana and announced by MDI on March 31st of this year. Approximately 10% of that commitment has now been fulfilled.
Almana’s order will be delivered to assist them in completing their network and security infrastructure project for the Barjeel Residential Tower, which is currently under construction and will be completed this year. This 64-floor skyscraper is the second largest structure in the country and is valued at $220 million. The tower will house six two-story villas, two super luxury villas and the top two stories will include two world-class restaurants.
MDI’s Middle East office, located in the Regus Building in Doha, provides Almana Networks and its physical security and low voltage customers with sales support, sales engineering support, system design services, proposal writing, value engineering and security consulting to assist them in achieving this annual revenue commitment, which is expected to continue to generate business from new large construction opportunities in one of the world’s richest and fastest growing cities (Doha, Qatar).
“This partnership was a long term investment for us and as announced by MDI in a release dated March 31, 2008, Almana Networks committed to purchase $5 million in product from MDI through the balance of this year,” stated Collier Sparks, President, Chief Executive Officer and Board Member for MDI, Inc. “As this significant order and the six other orders announced yesterday prove, this partnership is rapidly paying off for both companies. Almana Networks has issued over 40 sales quotes for new security projects from the Doha, Qatar office in the last 90 days which include MDI products and we believe that they are on schedule to meet or exceed their 2008 commitment,” he added. “The growth and new construction in and around the city of Doha is phenomenal and we will continue to service the country’s needs while meeting with Almana on partnership growth and expansion strategies throughout the region in 2008 and 2009,” Sparks concluded.
Additional projects that Almana is expecting to close in partnership with MDI in the near term include a 46-story office building and recreation center and a high-security 32-unit embassy compound.
About MDI, Inc.
MDI, Inc. (NASDAQ:MDII - News), is the parent company of a diverse set of wholly-owned subsidiaries that have successfully serviced the construction and security industries for over 28 years. MDI companies deliver security technology products, services and training for government, homeland security, commercial and educational markets as well as comprehensive construction solutions for a variety of clients on an international scale. MDI companies include:
MDI Security Systems™ - www.mdisecure.com
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