Or Yehuda, Israel, February 22, 2001 Floware Wireless Systems Ltd. (NASDAQ: FLRE), a leading provider of broadband wireless access (BWA) communication systems, announced today the opening of an office in Beijing, China. The office will provide sales services initially and is expected to provide technical support in the near future.
Floware's new office in China will support its existing customers and seek new sales opportunities in that country. Floware's WALKair BWA system has already been selected by two of the largest Chinese telecommunications operators for commercial deployments in China. Floware received initial purchase orders for equipment from these operators for more than $6 million, of which $2.8 million has already been shipped.
Floware also announced the appointment of Mr. Danny Ng to the position of Branch Manager and Sales Director for China. Prior to joining Floware, Mr. Ng was the Director of Sales & Marketing, Next Generation Telephony Services for ECI Telecom Ltd., where he was responsible for the Asian Pacific region. He held various positions with Hong Kong Telecom prior to joining ECI.
"The Chinese telecom market is growing rapidly and has very large potential for BWA equipment," said Amnon Yacoby, CEO of Floware Wireless Systems. "China is expected to be the fourth largest BWA equipment market in 2004, according to Strategis, a leading consulting firm in the telecom industry." He continued, "The opening of our office in China is a step in our efforts to become the leading BWA equipment supplier in this important country and we expect meaningful revenues from carriers in China during 2001. In addition, our expansion into China diversifies our geographical presence and gives us a strong foothold in Asia."
As part of Floware's efforts to expand its business in the Chinese market, Mr. Yacoby will speak about BWA at the Chinese Broadband Access 2001 International Conference on February 27. The conference is part of the opening up of the BWA market in China.
Floware Wireless Systems Ltd. is a leading provider of point-to-multipoint fixed broadband wireless access (BWA) systems. These systems are used mainly by new carriers (CLECs) which connect business customers in the "last mile." Floware's WALKair system enables carriers to provide high-speed Internet access, as well as a wide range of voice and data services, on the 3.5, 10.5 and 26 GHz radio frequency bands. Floware currently has more than 60 deployments worldwide.
This press release and statements by Floware in shareholder reports and public filings, as well as in oral public statements by Floware´s representatives may contain forward looking statements. Such statements are subjected to certain facts, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to in such statements. The risks are identified in Floware´s registration statement on Form F-1 (Registration Statement No. 333-12290) filed with the Securities and Exchange Commission.
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