Turku, Finland, 2016-10-11 09:00 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 11.10.2016 AT 10:00
TELESTE´S SUBSIDIARY MITRON HAS SIGNED A FRAME AGREEMENT WITH SWARCO, SWEDEN
Teleste´s fully owned subsidiary Mitron has signed a frame agreement with Swarco Sverige AB conserning the delivery of passanger display equipment to the Swedish Transport Administration. The agreement covers the delivery of real time RGB-LED passenger information displays for train stations in Sweden. The display equipment is designed to be used outdoor in demanding weather conditions.
The agreement is a continuation of the long term co-operation between Mitron and Swarco. The value of the three year agreement is estimated to exceed EUR 2 million and it includes an option to prolong its validity with 2 + 2 years.
Teleste is an international technology company that develops and offers video and broadband technologies and related services. Our supply of technology contributes to the convenience and safety of daily living. Our core business is video - video and data processing, transfer and management. Our customer base consists of cable and telecom operators, as well as public sector organizations. Our business is divided into two divisions, which are Video and Broadband Solutions and Network Services. In both areas, we rank among the world's leading companies and technological forerunners. Video and Broadband Solutions focuses on access networks and video security and information solutions. Network Services offers comprehensive services for access network design, construction and maintenance. In 2015, Teleste's net sales totaled EUR 248 million, and the company employed about 1,500 people. Teleste runs a worldwide network of offices and more than 95 % of its sales are generated outside Finland. The company is listed on the Nasdaq Helsinki. For more information see www.teleste.com
President and CEO
Jukka Rinnevaara, phone +358 2 2605 611 or +358 400 747 488