NEWS:
WAVC has another source for manufacturing their products. This was one objection FSVK had against WAVC. Now that hurdle has been removed.
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Press Release
SOURCE: Electronics Manufacturing Group Inc.; WaveRider Communications, Inc.
Electronics Manufacturing Group Inc. to manufacture WaveRider products for global distribution
("EMY" - CDNX)
CALGARY, Aug. 30 /CNW/ - Electronics Manufacturing Group Inc. (CDNX: EMY - news) and WaveRider Communications, Inc. (NASDAQ: WAVC - news) today announced the companies have finalized a broad manufacturing agreement for WaveRider's Last Mile Solution® (LMS) products. The manufacturing contract is valued at (Cdn) $20 million over the next eighteen months.
EMG will provide complete product procurement, production and final assembly, using its existing supply chain capabilities, to provide WaveRider LMS products for the global market. In addition, EMG will implement customized order entry and logistics procedures to manage the manufacture of WaveRider's LMS products.
"We are pleased to be working with EMG to manufacture our LMS family of products for our customers around the world," said Jim Chinnick, Vice President of Engineering, WaveRider Communications, Inc. "EMG's commitment to quality, state of the art facilities and talented professional staff make it a welcome addition to WaveRider's global network of manufacturers and service providers."
WaveRider's LMS portfolio provides high speed fixed wireless Internet access in the local access market. Utilizing license free radio technology in the 900 MHz and 2.4 GHz frequency bands, the LMS enables operators to deliver high-speed, high capacity multimedia services to new and existing customers without long lead times, high costs or complex deployments.
"WaveRider is an example of a Canadian technology and solution provider supplying innovative products to the global marketplace," said David King, President, EMG. "EMG and WaveRider will work together to ensure a seamless interface between the two companies and bring these cutting edge technologies to market."
About WaveRider Communications Inc.
WaveRider Communications, Inc. (www.waverider.com) is a leading wireless information technology company that develops, manufactures and markets products for data communications and Wireless Internet Networking (WIN). WaveRider's high performance products use frequency hopping and direct sequence spread spectrum technology coupled with time division multiple access techniques and operate in the license-free 900 MHz and 2.4 GHz ISM frequency bands. NCL Series Wireless Bridges and Routers provide the wireless connection between single or multiple computer networks. Integrated network management features ensure data is quickly forwarded to its intended destination based on network conditions. WaveRider's LMS (Last Mile Solution) Product Family connects wireless modems that offer high-speed connections to the Internet for business and residential customers. WaveRider is traded on the NASDAQ National Market, under the symbol "WAVC".
About EMG Inc.
EMG has its head office in Calgary and is an ISO 9002 registered electronics manufacturing services company with manufacturing facilities in Calgary, Alberta and Markham, Ontario. EMG provides a complete range of product development and delivery services to the global electronics industry and is continually expanding its electronics manufacturing services in order to set the standard for bringing quality electronics products to market. Services include design, supply chain management and procurement, new product introduction and prototyping, testing, final assembly, distribution, field support and service. EMG is listed on the Canadian Venture Exchange under the symbol "EMY".
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. This news release may contain forward-looking information. Actual future results may differ materially from those contemplated. The risks, uncertainties and other factors that could influence actual results are described in documents filed with regulatory authorities.
biz.yahoo.com
For further information
David W. King, President, Telephone: (403) 207-5364, E-mail:david.king@emgplace.com |
