SKYI... here is the last NR...
LONDON, Jun 22, 2000 (BUSINESS WIRE) -- Skynet Telematics.Com Inc. (OTCBB:SKYI) is pleased to announce the signing of a Joint Venture agreement and exclusive head franchise agreement for Skynet's, "Skamp" range of automotive and marine telematic products, with Forefront International (HK) LTD, for the countries of China, Hong Kong, Taiwan and Thailand.
This agreement provides that Forefront International (HK) LTD are forming a Joint Venture company to be owned 40% by SKYI and 60% by Forefront International (HK) LTD, through which the Joint Venture will have the exclusive rights to market, monitor and promote the "Skamp" range of automotive and marine telematics products and services in China, Hong Kong, Taiwan and Thailand.
This agreement covers all current market sectors i.e. trucks, buses, automotive, rental car, fleet management, motorbike, marine, agricultural machinery, generators, r.v's, anti-hijack, personal security and concierge markets. It is also agreed that the emerging telematic markets of medical telematics and tracking (MTT); Children and VIP kidnap telematics tracking and geofencing (CVTTG), are also included in this agreement for China, Hong Kong, Taiwan and Thailand.
Forefront International (HK) LTD, (Forefront) and Skynet Telematics.Com Inc. (Skynet) also announce that 10 Skamp units will be fitted to Chinese taxi fleets and Scania trucks next week in Beijing and Shanghai mainland China. The J.V. expects the taxi fleet trials in Beijing and Shanghai mainland China, to result in orders for in excess of 6,000 units. Although a large number of these vehicles are OLD models without electronic systems and immobilisers, the unique Skamp telematics device is designed to overcome these problems. These will be the FIRST Telematics connections in China and will initially be monitored by Skynet's London, England Monitoring unit, 24 hours a day 365 days a year until the J.V. sets up its monitoring station in China. Forefront estimate that sales to China, Hong Kong, Taiwan and Thailand will exceed 10,000 units by end August 2001. As the "FIRST" Telematics products into the immense underdeveloped Chinese markets the potential for growth is considered to be unparalleled. It is the intention of both J.V partners to take the Joint Venture Company public within 18 months.
The unique Skamp Telematics service is expected to dramatically reduce hi-jack incidents, improve driver productivity and reassure the driver and employer that vehicle and driver are never alone. Skamp multilingual, monitoring, security, telematics, routing and concierge services, available 24 hours a day 365 days a year. This service is expected to result in substantial reductions in insurance premiums.
Forefront International (HK) LTD (a private Company), is the sole distributor of Scania vehicles (Buses and Trucks) in China, Hong Kong, Taiwan and Thailand. Over 12,000 units of Scania trucks and buses have been sold into these areas by Forefront. Average annual sales exceed 1,000 units. As China has now become a member of the World Trade Organisation (WTO), Forefront believes demand for Scania vehicles will increase dramatically.
Apart from the sale and distribution of heavy-duty vehicles, the Group also provides high quality after-sale services, including training courses for driving and maintenance given to the customers. The Group has also established service centres in various locations with abundant supply of genuine Scania parts, repair and maintenance tools and equipment. The Group has invested considerable resources in building the professional Scania image of services and high quality products.
The Group's business covers not only the Scania products, but also includes insurance, computers, property investment and financing etc. in Taiwan, Hong Kong, and U.S.
Skynet Telematics.Com.Inc. quoted OTC BB symbol "SKYI", involved in the development, marketing and distribution of integrated telematic, Internet, tracking, location and communication systems and the provision of specialised monitoring and concierge services to users of these products in the UK and throughout Europe. Skynet Telematics.com have joint venture agreements covering 42 countries in Europe, Middle East and Far East.
Skynet is a world leader in the field of in-vehicle telematics offering fleet management solutions which combine three key technologies, GSM (Mobile telephone network), GPS (Global Positioning Satellites System which allows vehicle location within 4 metres), and Internet. Skynet's range offers an array of specialist features such as security, vehicle location and tracking, satellite navigation, telecommunications and of course information on route plans, traffic, weather, news, stocks etc. Skynet's fleet management facilities can be handled through any of its Pan-European 24 hour Monitoring Service Centres or alternatively as a standalone solution from any PC (Personal Computer). |
