KVH Expands Consumer Product Distribution Channels into Asian Markets
May 18 2006 - 7:30AM
Business Wire
Eletek Technology of China & Hong Kong and Can Traders of
Singapore to Serve as Distributors for KVH Maritime Satellite
Communication Products KVH Industries, Inc., (Nasdaq: KVHI)
announced today that it is expanding its consumer product sales
network into the Asian market following the selection of Eletek
Technology of China and Hong Kong and Can Traders of Singapore as
regional distributors. This expansion builds on the success of
KVH's existing marine satellite TV and communication sales and
regional distribution networks in North America, Europe, the Middle
East, Australia, and New Zealand. "Given the significant maritime
business opportunities within the Asian market, this is a logical
and exciting expansion of the distribution network for our
award-winning marine satellite products," explained Martin Kits van
Heyningen, KVH's president and chief executive officer. "While we
are still in the early stages of this initiative and the
distribution and dealer network will be more fully established over
the next several quarters, we are very excited by the prospects for
growth in Asia among both recreational and commercial mariners."
Eletek Technology Limited (www.eletek.com/en), a leading marine
electronic service provider, will serve as KVH's general
distributor for China and Hong Kong. Eletek supports sales and
service for the breadth of the shipping industry, ranging from
recreational and fishing boats to commercial vessels. At the same
time, KVH has selected Can Traders & Services
(www.cantrade.com.sg) to oversee sales and distribution
opportunities in Singapore. The Asian distribution network will be
managed by KVH's wholly owned subsidiary, KVH Europe A/S. "Our
TracVision(R) satellite TV systems are capable of supporting Asian
regional satellite TV services while our TracPhone(R) systems
connect to voice, fax, and high-speed Internet services worldwide
via the Inmarsat service," explained Mads Bjerre-Petersen, managing
director of KVH Europe A/S. "As a result, I believe our robust and
versatile products will be highly competitive in the Asian market
compared to lower-cost but less capable mobile satellite products
currently being distributed by Asian manufacturers." For additional
details regarding KVH's award-winning TracVision and TracPhone
products, visit http://www.kvh.com. Note to Editors:
High-resolution, press-ready images of KVH's entire marine
satellite TV and communication product families are available for
download and editorial use at http://press.kvh.com. About KVH
Industries, Inc. Middletown, RI-based KVH Industries, Inc., is a
leading provider of in-motion satellite TV and communication
systems, having designed, manufactured, and sold more than 100,000
mobile satellite antennas for applications on boats, RVs, trucks,
buses, and automobiles. Winner of the prestigious General Motors
Innovative Design Award, CES Innovation Award, 21 National Marine
Electronics Association "Best Product" awards, and a finalist for
the Automotive News PACE Award, KVH's mission is to connect mobile
customers with the same digital television entertainment,
communications, and Internet services that they enjoy in their home
and offices. This release may contain certain forward-looking
statements that involve risks and uncertainties. Forward-looking
statements include, for example, the anticipated demand of mobile
satellite TV and communication technology along with the potential
expansion of KVH consumer product sales in the Asian market. The
actual results could differ materially. Factors that may cause such
differences include KVH's ability to compete effectively in Asia
with regard to pricing, service, and support, the effectiveness of
KVH's selected Asian distributors in establishing dealer networks
and successfully promoting KVH products, as well as those discussed
in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no
obligation to update its forward-looking statements to reflect new
information or developments. KVH, TracVision, and TracPhone are
registered trademarks of KVH Industries, Inc. All other trademarks
are the property of their respective companies.
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