UISC USA: UISC Signs 100 Million Dollar Distribution Contract with Low Rider Est., Dubai-Abu Dhabi, of the United Arab Emirates
May 26 2009 - 7:21AM
Business Wire
Universal Infotainment Systems Corporation - UISC (OTC.BB:UNIV),
an in-vehicle navigation and infotainment systems innovator based
in Naperville, Illinois, announced today that they have signed a
distribution agreement with Low Rider Est. of Abu Dhabi, United
Arab Emirates (UAE). The $100 Million five-year contract covers
product distribution and support services for UIS Infotainment and
UIS FMTS (Fleet Management Tracking and Surveillance) within the
Gulf Cooperation Council (GCC) States (UAE, Saudi Arabia, Oman,
Qatar, Bahrain and Kuwait).
Under this agreement, UISC will supply Low Rider with 8000 UIS
Infotainment units per year for the UAE market with the first units
to be delivered starting November 2009. Further to this agreement,
shortly after receiving the initial delivered units, Low Rider will
also begin test marketing UIS Infotainment and FMTS in the GCC.
�Low Rider is an important client for UISC," stated James C.
Beattie, CEO at UISC, "and we have enjoyed a synergistic business
relationship for a number of years, as Low Rider has assisted UNS
Labs Arabia (Dubai, U.A.E) with product testing and market analysis
of product acceptance in the UAE market. With the first delivery of
units to Low Rider in November of 2009, this distribution agreement
opens opportunities for us to expand our market penetration in the
GCC for our UIS Infotainment and UIS FMTS products."
�We are very pleased with the UISC/UNS Labs products and our
working relationship,� says Thani Al Romaithi, General Manager at,
Low Rider. �This distribution agreement will allow us to expand our
products line by offering the best available
Navigation/Infotainment solution to our clientele. We have sound
experience in the GCC market and we are confident that the UIS
Infotainment and UIS FMTS product lines will rapidly gain the
market recognition that products of this caliber deserve. We look
forward to a long-term and successful relationship with UISC.�
About Lowrider UAE.
Low Rider Est. is a 10 year old establishment headquartered in
Abu Dhabi, UAE with successful branches in Dubai, Al Ain, Kuwait,
Bahrain, as well as Qatar. Founded by a UCLA graduate and highly
respected as a service provider to High-Net worth clientele, Low
Rider has enjoyed its hard earned success due to its determination
to provide its clients with top quality styling and the best in
customization accessories imported from the U.S.A.
Low Rider specializes and prides itself in aftermarket
automotive products and services including customization, High
Performance, Audio/Video/Sound systems, and specialty products for
improving vehicle performance.
About Universal (UISC/UNS
Labs)
UNS Labs (the R&D division of UISC) originally created UIS
Infotainment System (product name) for General Motors Arabia to
provide the OEM a leading edge in Navigation Technology over their
market competitors. At present, UISC has decided to take this new
product to the after-market level. Universal specializes in the
development of innovative vehicle Navigation and Infotainment
Systems and related technology products including 3G live
video/call solutions, among other media elements.
�We have changed the way you
Navigate in your World� �
www.uiscsys.com
DISCLOSURE NOTICE: All
statements in this news release, that are not statements of
historical fact, are forward-looking statements. These statements
are based on expectations and assumptions on the date of this press
release and are subject to numerous risks and uncertainties which
could cause actual results to differ materially from those
described in the forward-looking statements. Risks and
uncertainties include, but are not limited to, whether: UISC and
UNS Labs can manufacture the necessary hardware units required by
this contract with the desired characteristics in a timely manner,
that UISC raises the required capital to complete the initial
required production of units as required by this contract and other
factors over which UISC and UNS Labs have no control. UISC assumes
no obligation to update these forward-looking statements, and does
not intend to do so. Certain matters discussed in this news release
are forward-looking statements involving certain risks and
uncertainties including, without limitation, risks detailed in the
Company's Securities and Exchange Commission filings and
reports.
For Additional Information:
http://www.uiscsys.com/forwardlooking.htm
Universal Infotainment S... (GM) (USOTC:UNIV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Universal Infotainment S... (GM) (USOTC:UNIV)
Historical Stock Chart
From Jul 2023 to Jul 2024