QCOM-GSTRF--CellStar Signs Distribution and Fulfillment Agreements With TE.SA.M. Argentina And TE.SA.M. Chile
PR NEWSWIRE - March 30, 2000 15:56
CARROLLTON, Texas, Mar 30, 2000 /PRNewswire via COMTEX/ -- CellStar Corporation (Nasdaq: CLST), a value-added wireless logistics leader, today announced the signing of two agreements with Telecommunications par Satellites Mobiles (TE.SA.M.) under which CellStar will distribute and provide value-added services for Globalstar satellite phones and related accessories in Argentina and Chile.
These agreements, which provide for in-country value-added distribution and fulfillment services, are follow-on agreements pursuant to the agreement announced in October 1999 with TE.SA.M. whereby CellStar will distribute Qualcomm-manufactured Globalstar satellite phones in most of TE.SA.M.'s South American territories. Under that agreement, CellStar agreed to provide global value-added services, such as acquisition, procurement, programming, fulfillment, packaging, and return management services.
These new distribution agreements with TE.SA.M. Argentina and TE.SA.M Chile provide for the importation, processing, re-distribution and reselling of Globalstar products and services within the respective national markets. CellStar Argentina and CellStar Chile are local CellStar companies, established in Argentina and Chile, respectively, to support the national carriers in wholesale product procurement, distribution and value-added logistics. Both companies offer additional points of sale for the local TE.SA.M entities.
TE.SA.M., a company created by France Telecom 51 percent and Alcatel 49 percent, is one of the strategic partners of Globalstar and will develop the Globalstar service in 31 countries, including:
-- South America: Argentina, Bolivia, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Surinam, Uruguay, Venezuela -- Europe: Andorra, Belgium, France and its overseas departments and territories, Gibraltar, Luxembourg, Monaco, the Netherlands, Poland, Portugal, Spain, the Czech Republic -- Africa: Cameroon, Ivory Coast, Morocco, Senegal, Tunisia -- Middle East: Egypt, Lebanon, Turkey -- Asia: Vietnam
In addition to the agreements to provide value-added services in most of TE.SA.M.'s South American territories, CellStar signed distribution agreements in 1999 with Globalstar founding service providers that are licensed to serve customers in the United States, Canada, Mexico, the Caribbean and Central America.
Globalstar is a digital telecommunications system based on a constellation of 48 low-Earth-orbiting satellites that will offer worldwide coverage. Accessible from portable mobile or fixed terminals, this constellation will provide a competitively priced range of high quality communications services, such as telephony, fax and data transmission.
CellStar Corporation is a leading global provider of distribution and value-added logistics services to the wireless communications industry, with operations in Asia-Pacific, Latin America, Europe and North America. CellStar facilitates the effective and efficient distribution of handsets, related accessories and other wireless products from leading manufacturers to network operators, agents, resellers, dealers and retailers. In many of its markets, CellStar provides activation services that generate new subscribers for its wireless carrier customers. For the year ended November 30, 1999, the Company had sales of $2.3 billion. Additional information about CellStar may be found on its web site at www.cellstar.com.
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. A variety of risk factors, including changes in foreign laws, regulations and tariffs, new technologies, system implementation and operational difficulties, competition, handset and other product shortages and other risk factors, are discussed in the Company's Annual Report on Form 10-K, which is on file with the SEC. Any combination of these risk factors could cause CellStar's actual results to vary materially from anticipated results or other expectations expressed in CellStar's forward-looking statements.
SOURCE CellStar Corporation |
