New contracts.. from elite companies.. one of them is Marubeni from Japan...
TAIPEI, July 28 /PRNewswire-Asia-FirstCall/ -- Asia Pacific Wire & Cable Corporation Limited (OTC Bulletin Board:AWRCF.ob - News) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in selected Asia-Pacific markets, today announced that one of its Thai subsidiaries, Siam Fiber Optics, Co, Ltd. ("SFO"), has signed several major contracts with local companies and state-owned telecommunication companies for a total value of Baht 592 million (approximately $18.4 million). These contracts include:
-- A THB 185 million ($5.7 million) contract with Marubeni Thailand Co., Ltd. to deliver 5,650 km of fiber-optic cable over a seven-month period through October 2010; -- A THB 121 million ($3.8 million) contract to deliver 2,794 km of fiber-optic cable to TOT Public Company Limited, a state-owned telecommunications company, which commenced in May 2010 and would run for four months; and -- Two contracts from Thai Transmission Industry Co., Ltd. to provide 4,130 km ADSS & 4,324 km Dropwires of fiber-optic cables in an effort to link the telecommunication network for all the domestic universities in Thailand totaling THB 258 million (approximately $8.0 million) over approximately 14 months, the first of which commenced in January 2010.
Siam Fiber Optics Co., Ltd. is 60% owned by Charoong Thai Wire and Cable Co., the latter is 51% directly or indirectly owned by APWC. The other three non-controlling interest parties own rest of the 40% of Siam Fiber Optics Co., Ltd.
Asia Pacific Wire and Cable Corporation is pleased by the strong demand for the telecommunications products in Thailand and optimistic about experiencing a continued recovery in our business. These contracts represent a healthy pipeline and stable growth in our telecommunications-cable business. The Company expects to see continued strong demand for our wire and cable alongside the expansion of telecommunications and electrical infrastructure in the growing Asia-Pacific region
