Gilat Wins Bid of $108 Million for a New Project in Peru
December 17 2015 - 7:50AM
Gilat Satellite Networks Ltd. (NASDAQ:GILT) (TASE:GILT), a
worldwide leader in satellite networking technology, solutions and
services, today reported a new award by Peru’s Fitel (Fondo de
Inversion en Telecomunicaciones / Telecommunications Investment
Fund) of a regional telecommunications infrastructure project for
$108 million, in the region of Cusco. This new project is in
addition to the projects previously awarded to Gilat by Fitel in
the regions of Huancavelica, Ayacucho and Apurimac which are
currently underway.
"The fact that Gilat was awarded an additional regional project
by Fitel for $108 million testifies to the confidence placed in our
ability to deploy massive telecommunications projects under
challenging conditions. We continue to expand Gilat's ability to
win and execute large-scale rural broadband connectivity projects,
in accordance with Gilat's strategy," said Dov Baharav, Chairman
and interim CEO of Gilat.
“On top of the bid, Gilat expects additional revenues to be
generated by enabling cellular carriers to acquire network capacity
to address the growing needs for voice, data, and internet in these
regions,” added Mr. Baharav.
“We have taken an additional step for the development of Peru.
Today we start covering new villages with high speed broadband. I'm
pleased because strategic alliances between public and private
sectors are strengthening with those projects,” added Mr. Jose
Gallardo Ku , Minister of Transport and Communications.
About the Fitel Peru Award
Fitel’s regional initiative represents the complementary phase
of the Peruvian National Fiber Backbone project, aimed to connect
rural villages to broadband services. Within the framework of this
phase, Gilat won the bid for a regional project – in Cusco located
in the south of Peru.
The fiber-optic Transport networks will be built and immediately
transferred to the Ministry of Telecommunications, while the Access
networks based on wireless technologies will be built and operated
for 10 years before being transferred to the Ministry.
In the frame of the Access network operation obligations, Gilat
will connect about 615 public institutions and 371 remote villages
to broadband services.
About Gilat
Gilat Satellite Networks Ltd (NASDAQ:GILT) (TASE:GILT) is a
leading provider of products and services for satellite-based
broadband communications. Gilat develops and markets a wide range
of high-performance satellite ground segment equipment and VSATs,
with an increasing focus on the consumer and Ka-band market. In
addition, Gilat enables mobile SOTM (Satellite-on-the-Move)
solutions providing low-profile antennas, next generation
solid-state power amplifiers and modems. Gilat also provides
managed network and satellite-based services for rural telephony
and Internet access via its subsidiaries in Peru and Colombia.
With over 25 years of experience, and over a million products
shipped to more than 90 countries, Gilat has provided enterprises,
service providers and operators with efficient and reliable
satellite-based connectivity solutions, including cellular
backhaul, banking, retail, e-government and rural communication
networks. Gilat also enables leading defense, public security and
news organizations to implement advanced, on-the-move tactical
communications on board their land, air and sea fleets using
Gilat's high-performance SOTM solutions. Gilat’s controlling
shareholders are the FIMI Private Equity Funds. For more
information, please visit us at www.gilat.com
Certain statements made herein that are not historical are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. The words "estimate", "project",
"intend", "expect", "believe" and similar expressions are intended
to identify forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties. Many
factors could cause the actual results, performance or achievements
of Gilat to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, among others, changes
in general economic and business conditions, inability to maintain
market acceptance to Gilat's products, inability to timely develop
and introduce new technologies, products and applications, rapid
changes in the market for Gilat's products, loss of market share
and pressure on prices resulting from competition, introduction of
competing products by other companies, inability to manage growth
and expansion, loss of key OEM partners, inability to attract and
retain qualified personnel, inability to protect the Company's
proprietary technology and risks associated with Gilat's
international operations and its location in Israel. For additional
information regarding these and other risks and uncertainties
associated with Gilat's business, reference is made to Gilat's
reports filed from time to time with the Securities and Exchange
Commission.
Gilat Satellite Networks
Joelle Inowlocki
JoelleI@gilat.com
KCSA Strategic Communications
Phil Carlson, Vice President
(212) 896-1233
pcarlson@kcsa.com
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