NEWS OUT..GlobeTel Communications Corp. (Pink Sheets:GTEM) today confirmed the completion of production of the first set of 70 HotZone radios to be used for the expansion of its previously announced wifi broadband network in Pachuca, Hidalgo, Mexico.
The Pachuca network was originally constructed in a zone within the city in September 2006 as a pilot network to prove GlobeTel's proprietary HotZone technology to its contemplated joint venture partner. After successful ongoing operation, GlobeTel's partner accepted the network and agreed to structure a joint venture to deliver the HotZone technology to multiple markets within Mexico. The impending radio shipment is earmarked for the expansion of the original Pachuca network.
"The process for consummating the joint venture is moving along at a rate with which both partners are comfortable," stated Peter Khoury, Chief Executive Officer. "We are pleased that the equipment is ready to go, in contemplation of the imminent commercialization of Pachuca."
