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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: P2V who wrote (2985)	3/24/1999 9:40:00 AM
From: P2V	Respond to of 5390

HMMM, another (ERICY) business, uneffected by IPR Issues ---- Ericsson and Siemens Sign a 5 Year Global Power Supply Contract Valued At $200 Million STOCKHOLM, Sweden--(BUSINESS WIRE)--March 23, 1999--Ericsson Energy Systems has signed a five year global agreement with the Information and Communication Networks Group of Siemens AG valued at $200 million (SEK 1,650 million). Ericsson Energy Systems will provide their full range of energy systems solutions on an OEM basis to Siemens AG and its affiliated companies throughout the world. The agreement is anticipated to be worth more than USD 200 million over the next five years. It covers Ericsson's complete range of AC/DC and DC/DC power supplies, DC power distribution and backup systems, climate and cabinet systems, energy management solutions and associated hardware services, as well as existing standard products. The two companies plan to extend their cooperation into joint product planning and special engineering to meet the specific needs of Siemens. ''During an extensive review of potential power supply partners and their products, Ericsson has demonstrated that it has the quality and range of products which we require, and the services and worldwide logistics which our customers demand,'' says Hans-Eugen Binder, President of Siemens AG, Wireline Network Communication Division. ''We are proud to have been selected by Siemens for this innovative long term cooperation, and we believe it is a reflection of our strength in the evolving energy industry,'' says Rolf Pettersson, President of Ericsson Energy Systems, while emphasizing the strategic importance of this development to Ericsson. ''More importantly, it underlines that Ericsson Energy Systems has the commitment to build effective and productive partnerships with customers around the world.'' Ericsson is the leading provider in the new telecoms world, with communications solutions that combine telecom and datacom technologies with freedom of mobility for the user. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for its customers - network operators, service providers, enterprises and consumers - the world over. Please visit Ericsson's Press Room at: ericsson.se Contact: Kathy Egan or Per Bengtsson 212/685-4030