19 Jun 2008 07:00
SerVision plc (' SerVision ' or 'The Company')
Distribution Agreement
SerVision (AIM:SEV) is pleased to announce that it has signed a distribution agreement with Tedas BV. The agreement provides Tedas BV with the exclusive rights to distribute SerVision products in the Netherlands.
The agreement is worth, subject to certain conditions, up to 1,000,000 Euros. The Company has already received an order valued at 100,000 Euros and, subject to the contract not being terminated prior to expiry, a further two orders valued at 300,000 Euros each are scheduled to be received in the current financial year, with a further 300,000 Euros worth of orders expected by 16 May 2009.
Gidon Tahan, Chairman and CEO, commented:
"We are delighted to have signed an exclusive distribution agreement that will see SerVision products being sold into the Netherlands. Agreements of this nature are fully in line with our stated strategy of breaking into new territories and are part of the continuing progress we are making toward realising SerVision's business plan."
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Further enquiries:
SerVision plc +972 2535 0015
Eitan Yanuv, Finance Director
HB Corporate 020 7510 8598
Imran Ahmad/Rory Creedon
Threadneedle Communications 020 7936 9605
Graham Herring / Alex White