The MICROWAVE VISION Group (NYSE-Euronext: ALMIC) Ends the Year With $5.6M in New Contracts
The MICROWAVE VISION Group (NYSE-Euronext: ALMIC) Ends the Year With $5.6M in New Contracts
PARIS, January 17, 2011/PRNewswire-FirstCall/ --
- Asia is Driving Growth, With Approximately $3.9M in Orders.
- MICROWAVE VISION is Experiencing the Benefits of a proactive market
Strategy in Asia.
- Its Hong Kong Subsidiary Covers Key Markets in Emerging Countries.
Orders from 3 geographic areas
MICROWAVE VISION is well-balanced in terms of geographic coverage: in
2010, Europe, the Americas and Asia accounted for 32, 35 and 33% of its
revenue, respectively. The end of the year confirms that Asia is a key
market: of the $5.6 million recently awarded, more than two-thirds come from
this area.
In the United States, the Federal Aviation Administration and the US Navy
have ordered several key systems for testing large radar antennas and
aircraft. The order value is approximately $1.3 million. In Europe, the
demand for SG 24 (a multi-probe measurement arch of 2.4 m in diameter,
optimized for standards) led to an additional $0.4 million.
By comparison, in Asia, significant orders have resulted in $3.9 million
in revenue. Aside from Israel and India, where MICROWAVE VISION has strong
activity in aerospace and the military, there are orders for four new SG 24
systems, inclusive of the full complement of software options, associated
hardware equipment and firmware capabilities. In this market, global
high-tech manufacturers focusing on next-generation LCD screens with
integrated Internet browsing require electromagnetic test systems. MICROWAVE
VISION'S expanded industrial market focus is one of many examples of growth
in this area.
A commercial organization looks to the East
Asia has been a focus of the group for the past 8 years. MICROWAVE VISION
established an office in Hong Kong in 2003, and a second in Japan in 2007.
Aside from India's coverage by commercial agents, the Hong Kong subsidiary
also has branches in Shenzhen, Shanghai, Beijing, Taiwan and Korea.
"MICROWAVE VISION is a company with an international scope. We have a
direct presence in 8 countries and our employees represent 20 nationalities.
Our strategy is to promote geographical mobility, initially by opening
offices in new areas, but also more permanently, to improve the synergy
between our subsidiaries and remote offices," explains Philippe Garreau,
President MICROWAVE VISION.
What is MICROWAVE VISION'S recipe for success in Asia? First, direction
and guidance is provided in order to implement the working procedures
promoted by Headquarters. This is supported by the strong direction of
Mathieu Mercier, formerly a project engineer in Paris.
Then, a team of commercial agencies ensures a clear understanding of
customer needs. This team is led by a European sales manager, who now spends
three-quarters of his time in Asia!
The Hong Kong subsidiary has 15 people, with both American and French
contracts in expatriation and Chinese employees recruited locally for
business development, project management and customer support. Customer
Support - which is very difficult in this part of the world - benefits from
the field knowledge of local employees.
"The presence of an on-site Customer Support manager is essential. It
allows for immediate response to customer questions and facilitates ownership
of our systems, once installed," says the commercial director of MICROWAVE
VISION, Gianni Barone.
About MICROWAVE VISION:
MICROWAVE VISION (NYSE-Euronext: ALMIC) is a leading global manufacturer
of test systems and antenna measurement in the fields of Radio
Communications, Automotive, Defense and Aerospace. With the integration of
ORBIT/FR, Inc. (OTC Bulletin Board: ORFR), a U.S. company acquired in May
2008, the Group was able to develop an innovative market offer. It combines
precision electronic scanners developed by SATIMO Industries under its
"microwave vision" technology" with ORBIT/FR's high performance
electromechanical positioners and scanners. MICROWAVE VISION is located in 8
countries - France, Italy, Germany, Sweden, USA, Israel, China, and Japan,
and has 240 employees. The group has a loyal clientele of many international
companies. It achieved EUR 34.8 million in revenue in its fiscal year ended
December 31, 2009. MICROWAVE VISION benefits from its certification as an
OSEO "Innovative Company."
Alternext, ISIN code FR 0004058949 http://www.microwavevision.com
Source: MICROWAVE VISION
Pauline BERNIERE +(33)2-98-05-77-51, Media contact: contact@satimo.com
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