LOS ANGELES, June 18, 2003 (PRIMEZONE) -- MB Tech, Inc. (OTCBB:MBTT) announced today that it has entered into a new contract and purchase order with Eastech Inc. of Japan.
The contract is a dealership agreement between Eastech and MB Tech, whereby Eastech will be selling several MB Tech products including LNBs, Antennas, boosters and switches into the expanding Japanese market.
The Eastech contract will initially represent approximately $600,000 per year in sales to MB Tech.
The first purchase order under the agreement is for 6,000 sets of 45 cm aluminum antenna with single LNB valued at $152,000.
Additionally, the company now anticipates entering the Japanese market aggressively, anticipating sales of approximately 10,000 sets of antenna/LNB per month, valued at over $250,000/mo. MB Techs' products will be sold to four major brands throughout Japan.
Mr. Hanwook Bae, CEO of MB Tech stated, "The LNB and Antenna market is just the beginning of our entry into Japan. Eastech's acceptance of our quality reinforces that we will continue to be highly competitive on a price/performance basis in the global market."
About MB Tech, Inc.
MB Tech is a global manufacturer and distributor of satellite components. The primary product MB Tech produces is "LNB" electronic diodes, which are the essential elements enabling DBS satellites to receive and convert satellite transmission signals. MB Tech currently serves the satellite television market, and is expanding to serve the satellite radio and military hardware sectors.
MB Tech manufactures several proprietary LNB solutions that differentiate it from competitors. MB Tech's product line includes a dual-horn LNB which allows multiple set-top boxes to be connected to a single satellite dish, enabling viewing of multiple channels simultaneously on different television monitors, and a tri-horn LNB, which provides the ability to download signals from multiple satellites over a single dish.
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the Company may make orally in connection with this release are not historical fact and are forward-looking statements within the meaning of the private securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements, as such statements involve risks and uncertainties that could significantly impact the company's business and the actual outcome and results may differ materially.