Atlantic Telecom Grp - Subsidiary's New Order
October 01 1997 - 10:07AM
UK Regulatory
RNS No 6252q
ATLANTIC TELECOM GROUP PLC
1st October 1997
ATLANTIC TELECOM GROUP PLC PLACE EQUIPMENT ORDER WITH
TADIRAN TELECOMMUNICATIONS LTD
Atlantic Telecommunications Ltd ("ATL"), a wholly owned
subsidiary of Atlantic Telecom Group PLC, has today
placed an order for customer equipment valued at
$7,105,500 US dollars (approximately #4.4m) with Tadiran
Telecommunications Ltd, the Israeli telecommunications
equipment supplier. The customer equipment is due for
delivery between December 1997 and March 1998.
ATL is pleased to announce that Tadiran has modified the
existing purchase agreement to allow all orders for
customer equipment placed from today to be made available
on significantly extended terms. Payment will now be
deferred until 10 months after the delivery of the
relevant equipment.
Commenting on the transaction, Graham J Duncan, Executive
Chairman of Atlantic Telecom Group PLC stated "The new
equipment will allow us to continue to expand our
customer base. The modifications to the agreement
recognise our long term relationship with Tadiran and we
are delighted that Tadiran will fund the purchases for an
extended period. Some parts of this order placed today
will therefore not be payable until early 1999, giving us
a useful cash flow advantage, an arrangement which will
subsist for future customer equipment orders."
Enquiries:-
Graham J. Duncan
Executive Chairman
Atlantic Telecom Group PLC
Tel: 01224 646644
http://www.atlantic-telecom.co.uk
END
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