News Release That Did It....
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: FINLINE TECHNOLOGIES LTD.
CDNX SYMBOL: FIN
JANUARY 7, 2000
Finline Announces New, Low Cost Solution for Broadband
Wireless Internet Access
WATERLOO, ONTARIO--Finline Technologies Ltd. (CDNX: FIN) is
pleased to announce that it has commenced development of a
proprietary, low cost customer site transceiver for high-speed
internet / data access over MMDS, LMDS, and ISM unlicensed
bandwidth. Named the Finline "Millennium Transceiver", it will be
priced significantly below any presently available product and is
positioned to meet the demand in the United States, Canada, and
worldwide by network operators and consumers for economical
wireless internet access.
The Millennium Transceiver is set to launch within the first half
of 2000, and is specifically designed for two-way applications.
The design is compatible with all major customer antenna formats,
will receive digital or analogue video and internet 'downstream'
data, and allow network customers to access the internet via a
powerful 'upstream' transmitter. The product will also be
applicable to wireless telephony and video-on-demand.
The development effort is a result of leveraging Finline's
existing knowledge and experience in designing and building MMDS
broadcast systems and wireless components which have been
installed worldwide, and the evolving requirements of network
operators.
"The release of this new transceiver represents an extraordinary
opportunity to capitalize on the demand by network operators for a
cost effective solution to offer their customers for two-way
wireless data access. We see a large market in the US, Canada,
and Latin America for this product over the next five years and we
are investigating a number of alliance opportunities to further
exploit this potential.", said Einar Fiskvatn, President and CEO.
"Sprint and MCI Worldcom have recently invested over $1.5 Billion
US in MMDS licensees, representing access to over half of all US
households, with the intention of providing high-speed internet
and other interactive data services to residential and business
customers. Each customer to these services will require some form
of two-way transceiver", he further said.
"Given the recent endorsement by a number of industry titans in
the US and the upcoming new round of licenses to be issued by the
CRTC in Canada, and spurred by rapidly increasing consumer demand
and the growing requirements of multi-media content, high-speed
internet access over MMDS is rapidly emerging as a major growth
area. There are currently very few players that have a
transceiver solution for this purpose", said Jonathan Carley,
Director of Corporate Development.
In other recent developments, Finline is pleased to announce that
it has successfully shipped the first requirements of the
previously announced turnkey MMDS system to HornAfrik Media Inc.
for the city of Mogadishu, Somalia, including all head-end
equipment. All shipments where completed on schedule and per the
terms of the agreement with HornAfrik. Additional orders as part
of the agreement expected to be received in the first half of
2000.
Finline Technologies Ltd. is a designer and manufacturer of
broadband wireless systems, focusing on MMDS "Wireless Cable"
solutions for the broadcast of video, voice, and high speed
internet services. Based in Waterloo, Ontario, Canada, Finline
has successfully deployed its systems and components worldwide to
operators in fourteen countries on five continents.
THE CANADIAN VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED
THE INFORMATION CONTAINED HEREIN
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FOR FURTHER INFORMATION PLEASE CONTACT:
Finline Technologies Ltd.
Einar Fiskvatn
President & CEO
519-746-1023
519-746-1131 (FAX)
Email: finline@finline.com
Internet: finline.com
or
Finline Technologies Ltd.
Jonathan Carley
Corporate Development
519-746-1023
519-746-1131 (FAX)
Email: finline@finline.com
Internet: finline.com
INDUSTRY: CPR
SUBJECT: NWS |
