Earnings Release • Apr 26, 2011
Earnings Release
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SAF Tehnika Strengthens Presence in the Middle East with a New Joint Venture
Today, on the 26th of April one of the world’s top microwave carrier-class licensed point-to-point manufacturers, SAF Tehnika JSC (NASDAQ:SAF1R) announced that it has signed an agreement to found a joint venture SAF Tehnika Middle East Ltd with NAJAHAT Development & Investment Company (Saudi Arabia) thus confirming Middle East as one of the strategic growth markets.
SAF Tehnika Middle East Ltd. will be focusing on delivering reliable and robust customized microwave solutions for mobile backhauls, business services and broadband networks as well as on meeting the growing demand for cost-effective wireless solutions in the region.
“Customer loyalty and sustained increase in demand are the main reasons, encouraging us to continue the market expansion” said Janis Ennitis, COO of SAF Tehnika JSC “and the foundation of SAF Tehnika Middle East Ltd. is just one step forward on this path”.
Commenting on the joint venture, Mr. Homod Bin Ali Al-Robian, Chairman of the Board for SAF Middle East Ltd said: “We are pleased to partner with SAF Tehnika to deliver European quality communication solutions in the Middle East region. The main reason is that SAF Full Outdoor Radio systems as well as the whole SAF products portfolio is perfectly designed to meet our market requirements”.
All SAF microwave systems are operating in high temperature up to +55º, penetrating dust and rain. In some cases signal can be transmitted over a very long distances, thus demonstrating perfect suitability for the Middle East climatic and geographical conditions.
Parties intend that SAF Tehnika Middle East Ltd. will be majority-owned by NAJAHAT Development & Investment Company and headquartered in Riyadh.
SAF Tehnika is ISO certified, with R&D and complete production in Europe and sales in almost 100 countries worldwide.
For more information, please contact:
Evija Baula
PR specialist
SAF Tehnika JSC
email: [email protected]
Tel.: + 37167046836
Cell: +37128321144
www.saftehnika.com
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