ATWL $20M contract news???
AIT Wireless Closes $20 Million Contract for Africa Telecom Project
Tuesday May 17, 4:04 pm ET
LAKELAND, Fla.--(BUSINESS WIRE)--May 17, 2005--AIT Wireless, Inc. (OTC Pink Sheets: ATWL - News), a leading provider of telephone company central office systems secured a major contract to provide $20 million of equipment and services for an Africa based Telco.
In addition to providing both inside and outside plant equipment, the $20 million award calls for AIT to provide significant staffing in project management, engineering, installation and support system development. "This is the type of telecom project we are directing our energies toward. It is in a developing country, with critical needs for infrastructure, allowing us to not only provide the hardware, but more importantly it allows us to export the expertise to build and operate a world class telecom system, which is so important to the developing countries of Africa." commented Ernest Phillips, President, AIT Wireless, Inc.
The agreement calls for the network expansion of General Telephone & Equipment of Lagos, a wire-line carrier currently with 16 central offices across the country. This expansion will allow them to expand their reach to over 9 million potential subscribers.
In a related development, last week AIT, consistent with their efforts to diversify their strategic focus, concluded the purchase of a significant oil & gas property in West Virginia.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Such statements are inherently subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from those expected or implied by the forward-looking statements. These factors include general economic and business conditions nationally, internationally and in the regions and countries in which we operate; demographic changes; technology changes; increased competition; changes in business strategy or development plans; our high leverage and our ability to access capital markets; our ability to attract and retain qualified personnel; existing governmental regulations. Given these factors, investor and analysts should not place undue reliance on forward-looking statements.
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Contact:
AIT Wireless, Inc.
Ernest Phillips, 863-647-4341
ephillips@aitofflorida.com
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Source: AIT Wireless, Inc.
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