C2SAT SIGNS DISTRIBUTION AGREEMENT WITH MODOOTEL LTD. IN KOREA
(NGM:C2ST B)
Stockholm, Sweden, 10 November 2009 – C2SAT (NGM-Stock Exchange, C2ST), a supplier of maritime VSAT antenna systems, today announced that it has signed a non-exclusive agreement for distribution, service and installation with Modootel Ltd., a provider of satellite communication solutions and leading manufacturer of satellite TV antennas, based in Busan Korea.
“We are very pleased to be a distributor of C2SAT and this new agreement will enable us to provide our customers with high quality VSAT antennas, which is essential in our market. We expect that the C2SAT VSAT solutions will meet our customers’ requirement and it will create new market opportunities,” says JS Park, CEO of Modootel Ltd.
“The agreement with Modootel Ltd. strengthens C2SAT’s presence on the Asian market and opens up new possibilities on one of the largest ship building markets in the world. We are very pleased to partner with Modootel Ltd., which is well positioned to service the maritime market with our products,” says Norbert Hentschel, CEO, C2SAT Asia Pacific.
About Modootel Limited
Modootel Limited was established in 2005 by a sales manager with over fifteen years experience in marine applications and has become one of the key satellite communication solution providers to the government and marine segments in Korea. Main activities of the company are sales, installation, service of satellite communication systems and marine equipment, manufacture of marine satellite TV antennas and LRIT business. (www.modootel.co.kr)
About C2SAT
Headquartered in Solna, Sweden, with a subsidiary in Singapore, and a BSO in Shanghai, China, C2SAT develops, manufactures and supplies innovative 4-axes stabilised VSAT antenna systems that provide vessels in motion with on-line two-way satellite broadband communication. The system is protected by a series of global patents. C2SAT holding AB (publ.) is listed on the NGM Stock Exchange with the ticker C2ST and with Mangold as market maker. C2SAT is a registered trademark. (www.C2SAT.com)
For additional information, please contact:
Norbert Hentschel, CEO C2SAT Asia Pacific (Pte.) Ltd
201B New Bridge Road, Singapore 059428
Tel: +65 6 225 8826, norbert.hentschel@C2SAT.se
Lars Davås, CFO & Investor Relations
Dalvägen 16, SE-169 56 Solna, Sweden
Tel: +46 8 748 01 40, lars.davas@C2SAT.se
JS Park, CEO, Modootel Limited
RM811, ACE HighTech21, 1470, U-dong, Haeundae-gu, Busan, Korea,
Tel: +82 51 920 2333, jspark@modootel.co.kr