TGEN a play today? Microtel -MCTL- Uk Subsidiary Gets Initial Baggage & Gate Information Systems Contract For New Budapest Airport
New Technology's First Year Revenues Expected To Exceed One Million Dollars
ONTARIO, Calif.--(BUSINESS WIRE)--January 5, 1999-- MCTL Contracts Over Past Three Months Total $20 Million
MicroTel International, Inc. (NASDAQ Small Cap: MCTL - news) today announced that its UK subsidiary, XCEL Corporation Ltd., has been awarded a contract by Ferranti Air Systems Ltd. for the baggage and gate information systems at the new Budapest airport. First year revenues, including other pending contracts, are expected to exceed one million dollars. XCEL is also bidding on similar subsystems for the new Hong Kong Kai Tak Airport among others.
XCEL's new information technology products, branded Intelimonitor and Intelikey, are subsystem assemblies for baggage and gate information systems. Graham Jefferies, MicroTel's vice president and director of international operations, stated, ''our subsidiary has had success in information technology products within communications systems, especially for rail and motorways. Their new products represent penetration into the burgeoning air traffic markets. Partnering with Ferranti and others for several new and retrofit systems around the world should allow XCEL to achieve first year revenues exceeding one million dollars.''
Over the past three months, MicroTel and subsidiaries have announced contracts totaling $20 million.
MicroTel International, Inc. is a holding company for its three wholly-owned subsidiaries - CXR Telcom Corporation, in Fremont, CA; CXR, S.A., in Paris, France and XIT Corporation in Ontario, CA. CXR Telcom Corporation and CXR, S.A. design, manufacture and market electronic telecommunication test instruments, voice and data transmission and networking equipment. XIT Corporation designs, manufactures and markets information technology products, including input and display components, subsystem assemblies, power supplies, hybrid microelectronic and other circuits. The company operates from facilities in the U.S., France, England and Japan. Approximately 60% of the Company's sales are to customers in the telecommunications industries, including AT&T and the Regional Bell Operating Companies domestically, and France Telecom in Europe among others. The remainder of sales are information technology products for industrial, medical, military and aerospace applications. The Company's products are distributed under each subsidiary's well-known brand names.
For further information please consult the Company's investor web site at www.microtelinternational.com. |
