Sivers IMA receives order for radar modules worth SEK 6.5m
Sivers IMA Holding AB (Nasdaq First North: SIVE) today announces that the company has received an order worth SEK 6.5m for delivery of FMCW radar modules to a leading systems integrator in the maritime area. The order applies to older FMCW radar modules that Sivers IMA has developed and manufactured for many years. Sivers IMA recently announced an end-of-life for this type of FMCW radar modules. Since this an end-of-life order for these products, the order value is higher than for an average year.
"We have found a good solution with one of our long-term customers on how to make our final delivery of these older radar modules. These products have been important to Sivers IMA for a long time but are now due to be phased out. Thanks to the end-of-life of these products, we will be able to add resources to increase our focus on our new products for wireless and fiber based high speed networks, which I see as important", Says Anders Storm, CEO of Sivers IMA.
Delivery of the radar modules will start in the third quarter and with the aim of delivering the full order within 2018. Other customers using these products have received the same end-of-life message and we expect to carry out the final deliveries during this year also to them .
For more information:
Anders Storm, CEO
Tel: +46 70 262 6390
Erik Penser Bank is appointed Sivers IMA Holding ABs Certified Adviser on Nasdaq First North.
Tel: +46 8 463 80 00
This information is insider information that Sivers IMA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on April 13, 2018, at 16:45 CET.
Sivers IMA Holding ABis a leading and internationally renowned supplier, publicly traded under SIVE at Nasdaq First North Stockholm. The wholly owned subsidiaries Sivers IMAand CST Globaldevelop, manufacture and sell cutting-edge chips, components, modules and subsystems based on proprietary advanced semiconductor technology in microwave, millimeter wave and optical semiconductors. Headquarters in Stockholm, Sweden. Learn more at http://siversima.com.