PeerTV PLC Purchase of Equipment & Update Re: Distributor (2255Q)
28 Agosto 2014 - 5:48AM
UK Regulatory
TIDMPTV
RNS Number : 2255Q
PeerTV PLC
28 August 2014
28 August 2014
PeerTV PLC
("PeerTV" or the "Company")
Purchase of Capital Equipment and Update Regarding
Distributor
PeerTV plc (AIM:PTV), a provider of technology solutions for the
OTT (TV over the internet) market, and PCB (printed circuit board)
production solutions wishes to update the market regarding
developments in both of its business units.
The Company announces that its subsidiary, Digitek SMT
Assemblies Limited ("Digitek"), has placed an order to purchase an
additional SMT (Surface Mount Technology) production line at a cost
of approximatelyGBP320,000. The line is expected to become
operational in the fourth quarter of 2014.
Avi Vermus, Chief Executive of PeerTV, commented: "We believe
that the new SMT line will enhance Digitek's position amongst SMT
companies in Israel. Its features include advanced technologies,
which allow for component placing speeds that are faster than
Digitek's existing lines and a shorter set up time. As such, we
expect that the successful implementation of the new SMT production
line will reduce Digitek's manpower costs. The introduction of the
new SMT line will enable Digitek to deal with components of many
types and sizes, which we expect will increase our target customer
base. Importantly, through increased efficiency and expected cost
reductions, we believe that Digitek may be able to increase its
price competitiveness and capture a larger market share".
Digitek will pay for the equipment for the new production line
over a period of 35 months.
The Company's management is confident that the new SMT line will
allow Digitek to significantly increase its overall production
capacity and attract new customers and projects in key industrial
sectors, including medical equipment and military, for which
Digitek already holds the required standards approvals.
The Company also wishes to announce that the final agreement for
the appointment of a distributor for the US and Irish markets for
the PeerTV OTT product, referred to in the announcement of 29 May
2014 has not yet been signed. Both sides have agreed to extend the
original 90 day deadline. The discussions between the parties are
progressing. The directors now expect the final agreement to be
signed during the fourth quarter of 2014, although this cannot be
guaranteed.
Further enquiries:
PeerTV Plc
Eitan Yanuv, Chairman
Tel: +972 974 07315
Daniel Stewart & Company (Nomad and Broker)
Emma Earl / David Coffman
Tel: +44 (0)20 7776 6550
This information is provided by RNS
The company news service from the London Stock Exchange
END
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