Comtech Group to Provide Line Card Components to Huawei Technology
07 December 2004 - 8:05AM
PR Newswire (US)
Comtech Group to Provide Line Card Components to Huawei Technology
SHENZHEN, China, Dec. 6 /PRNewswire-FirstCall/ -- Comtech Group,
Inc. (OTC:COGO.OB) (BULLETIN BOARD: COGO.OB) , a leading module
design solutions provider in China focused on the mobile handset
and telecom equipment industries, announced today that its
subsidiary, Shenzhen Comtech International Limited, has entered
into a new contract with Huawei Technology Co., Ltd ("Huawei"), the
largest telecom equipment vendor in China. Comtech Communication
will provide key components of line cards used in PSTN switching
systems. This contract will provide approximately 10% of Huawei's
total purchase of line card components in 2005. "Huawei is a
marquee communication equipment provider and we are delighted to
extend our long-standing relationship with this company," said
Jeffrey Kang, Comtech's chairman and chief executive officer. "We
have worked with Huawei since Comtech's inception in 1995. Our
long-term relationships with clients, such as Huawei, as well as
our broad customer base enable us to capitalize on high growth in
the Chinese handset market and the Chinese telecom equipment
market." About Comtech Comtech Communication Technology (Shenzhen)
Co. Ltd., is a wholly owned subsidiary of Comtech Group. Comtech
serves over 200 companies representing most of the large
manufacturers in the mobile handset and telecom equipment
industries in China. Safe Harbor Statement This press release
includes certain statements that are not descriptions of historical
facts, but are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities and Exchange Act of 1934. These forward looking
statements may include the description of our plans and objectives
for future operations, assumptions underlying such plans and
objectives and other forward looking terminology such as "may,"
"expects," "believes," "anticipates," "intends," "expects,"
"projects," or similar terms, variations of such terms or the
negative of such terms. Such information is based upon various
assumptions made by, and expectations of, our management that were
reasonable when made but may prove to be incorrect. All of such
assumptions are inherently subject to significant economic and
competitive uncertainties and contingencies beyond our control and
upon assumptions with respect to the future business decisions,
which are subject to change. Accordingly, there can be no assurance
that actual results will meet expectations and actual results may
vary (perhaps materially) from certain of the results anticipated
herein. Factors that could affect future performance include, but
are not limited to, Comtech's success in fulfilling the subject
contract, Huawei's willingness to continue to do business with
Comtech and any changes in the terms of the contract. DATASOURCE:
Comtech Group, Inc. CONTACT: Asia Pacific, Hope Ni, Chief Financial
Officer of Comtech, ; or North America, Jason Golz of Financial
Dynamics, +1-415-439-4532, or , for Comtech Web site:
http://www.comtech.com.cn/
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