TELESTE SUBSIDIARY CABLEWAY AG SIGNS A THREE-YEAR CONTRACT WITH KABEL DEUTSCHLAND
TELESTE CORPORATION STOCK EXCHANGE RELEASE 25.10.2010 AT 14:30
TELESTE SUBSIDIARY CABLEWAY AG SIGNS A THREE-YEAR CONTRACT WITH KABEL
DEUTSCHLAND
Teleste's subsidiary Cableway AG has signed a three-year contract extension with
Kabel Deutschland (KD) on the upgrading and maintenance services of cable
networks. In terms of net sales, the estimated annual value of this frame
agreement equals approximately EUR 50 million. The agreement is based on the
frame of the previous two-year contract now about to expire. The new agreement
consolidates Cableway's position as the leading German cable network services
company enabling long-term development of the business.
Two years ago Kabel Deutschland outsourced its technical upgrading and
maintenance services for cable networks, whereby Cableway AG, Teleste's fully
owned German subsidiary, gained a significant market share as a provider of
upgrading services. Today Cableway is by far the largest service provider in
Germany focusing on cable networks with every major German cable operator
included in its clientele.
Kabel Deutschland is the largest cable operator in Germany with approximately 9
million connected households today. The stock-listed company currently operates
in 13 of 16 German federal states providing its customers with all the modern TV
and telecommunication services. Sales of KD's broadband subscriptions are on a
significant increase, which provides the largest growth area in the next few
years. To enable growth, capacity of the cable network will be increased by
upgrading the so-called house network sections and access sections based on the
given requirements.
Teleste is an international technology group founded in 1954, which is
specialised in broadband video and data communication systems and services. The
group is active in two business segments, Video and Broadband Solutions and
Network Services; in both fields, we are among the global leaders. Video is at
the core of our business activities, with a focus on the processing,
transmission and management of video and data for operators and public
authorities who provide multiple video-related information, entertainment and
security services to end-users. Video and Broadband Solutions business segment
has the emphasis on product solutions for broadband access networks, video
service platforms and video surveillance applications. Network Services segment
deliver comprehensive network service solutions including new construction,
rebuilding, upgrading, planning and maintenance services of cable networks. In
2009 the group's net sales totalled EUR 142 million and the group employed 1260
persons at the year-end. The company has approximately 30 offices world-wide and
over 90% of Teleste's net sales are generated outside Finland. The company is
listed on the NASDAQ OMX Helsinki Ltd. www.teleste.com for more information.
TELESTE CORPORATION
Jukka Rinnevaara
CEO
ADDITIONAL INFORMATION:
Mr Jukka Rinnevaara, CEO, Tel. +358 2 2605 866 or +358 400 747 488
DISTRIBUTION:
NASDAQ OMX Helsinki
Primary media
www.teleste.com
