ADVANCED ELECTRONIC SUPPORT PRODUCTS, INC.
ACQUIRES INTELEK spol. s.r.o.
Miami, Florida,
September 4, 2001- Advanced
Electronic Support Products , Inc. (NASDAQ: AESP and AESPW) today announced
that it has completed the acquisition of Intelek spol. s.r.o. Founded in 1993, Intelek had 2000 fiscal year revenue of
approximately $4.1 million. Intelek is a distributor and manufacturer of
networking hardware and wireless networking products with offices in Brno and
Prague, Czech Republic.
Slav Stein, the President and Chief Executive Officer of Advanced Electronic
Support Products, Inc., commented: “We
believe that our acquisition of Intelek continues our European acquisition
strategy and efforts to further grow our market share despite the economic
slowdown. We also expect that both AESP’s worldwide organization and Intelek
will benefit from the synergies in our product lines. Our existing operations
will benefit from Intelek’s technical expertise in wireless technology, which
is a main product line in their business, and Interlek will be able to market
our Signamax™ networking products in the Czech Republic. Additionally, we plan
on expanding Intelek’s fiber optic cable assembly capabilities.”
Mr. Stein continued: “ We are pleased to welcome to our organization
Intelek’s former owner, Mr. Ivo Kravacek, who will continue with Intelek in
the role of Chief Executive. Mr. Kravacek will also spearhead our efforts to
expand our business into other Central European countries such as Poland,
Hungary, and Slovakia.”
Advanced Electronic Support Products, Inc. designs, manufactures, markets and
distributes network connectivity products under the brand name Signamax™
Connectivity Systems as well as customized solutions for original equipment
manufacturers worldwide. The Company offers a complete line of active networking
and premise cabling products for copper and fiber optic based networks, as well
as computer connectivity products.
Signamax
is a trademark of Advanced Electronic Support Products, Inc. in the United
States and/or other countries.
AESP ANNOUNCES
ACQUISITION OF INTELEK spol. s.r.o.
Safe Harbor
Disclosure under the 1995 Securities Litigation Reform Act.
This news release contains forward-looking statements, which involve risks and uncertainties. The Company’s actual future results could differ materially from the results anticipated herein. For information regarding factors that could impact the Company’s future performance, see the Company’s future filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-KSB for 2000.
For further information, please contact:
Slav Stein, President & CEO
Roman Briskin, Executive Vice President
Roy D. Rafalco, Chief Financial Officer
Advanced Electronic Support Products, Inc.
1810 NE 144 Street (305)
944-7710
North Miami, Florida 33131
# # #