| | INNOTELCO Signs Agency Distribution Agreement with Farel
biz.yahoo.com
May 31, 2005 09:01:12 (ET)
INNOTELCO, Inc. (Pink Sheets: ILCO), a marketer and distributor of telecom hardware and network solutions, announced today that it has signed an Agency and Distribution Agreement with Farel, Macedonia, to act as Agent and distributor for Innotelco Inc. products for the Macedonian telecom industry.
Farel has a yearly estimated net profit ranging from 3 to 5 million euros. The company was able to continue operations during sanctions against Yugoslavia.
"Innotelco is excited by the opportunity to extend their marketing capability through our new association with Farel, a company that has gained the reputation of one of the best marketing and distribution agents for the region," (Ross Sehovic, CEO of Innotelco Inc.). "This agreement is in keeping with Innotelco's plan to cover the southeastern region of Europe and eventually the whole of the European market."
About Farel
Farel, established in 1990, covers the market for over 20 million people in the southeastern region of Europe. Farel is a distribution agent for six major worldwide corporations: four from Austria, one from Germany and one from the United States. The President of Farel is Vasil Atanasov, who has 20 years experience in marketing and distribution. Farel maintains offices in Skopje, Macedonia and Serbia and Montenegro.
About Innotelco, Inc.
INNOTELCO is a telecom hardware supplier, specializing in servicing emerging markets looking to expand their telecommunications networks. INNOTELCO's products range from indoor and outdoor coaxial cables and accessories to fibre optics and switching equipment.
Safe Harbor Statement
This press release contains forward-looking statements as defined in the Securities Litigation Improvements Act of 1996. The words "believe," expect," estimate" and "project" and similar expressions define forward-looking statements, which speak only as of the date the statement was made. INNOTELCO, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are currently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated in, underlie the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the Company's ability to meet its projected growth, the effects of government regulation, competition and other material risks.
SOURCE: INNOTELCO, Inc.
INNOTELCO, Inc.
Ross Sehovic, 416-565-0043
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