PARIS--(BUSINESS WIRE)--The shares were purchased on the Capital Market and presently raise PTT’s share of capital in MVG to 1%. This equity stake by a Japanese partner reinforces the longstanding and rooted collaboration between the two companies in a strategic market.
Philippe Garreau, President of MICROWAVE VISION GROUP (Pars:ALMIC), announces: “PTT is our commercial agent but above all, a partner. Our ties have resulted in a fruitful collaboration for over 12 years. This entry in the capital of MVG demonstrates our mutual trust. Japan plays a key role in our expansion plans for Asia. The financial participation of PTT will allow us to strengthen synergies between the two companies.
Yuji Yamamoto, President of PTT adds: “12 years have passed since we commenced good business with MVG in 2000. We have acted as MVG’s exclusive agent in Japan all that time and acquired shares to further strengthen ties with MVG. On this occasion we, both MVG and PTT, intend to positively undertake the task of expansion of product sales not only in Japan but also across Asia.”
PTT Company Limited - PTT - is a major trading company in Japan distributing reliable and global high technology products to Japan and China, as well as Southeast Asia. The goal of PTT is to create win-win business models between major manufacturers and end users through its strong technical and logistics support. PTT is 100 percent owned by public company named Vitec Co., Ltd. and has 5 own domestic sales offices and 2 in China. Major suppliers are STMicroelectronics and MOLEX, and major customers are Panasonic group companies. For more information, visit: http://www.pttco.co.jp
About MICROWAVE VISION
MICROWAVE VISION Group - MVG - (NYSE-Euronext: ALMIC) is a leading global manufacturer of antenna test and measurement systems for the Telecommunications, Automotive, Defense and Aerospace industries, as well as for academic research. With the recent acquisition of REMC, specialists in shielded chambers for anechoic, EMC and screened room solutions, MVG offers the widest range and most innovative technology of its kind in the respective markets. The company brings together the high-precision electronic scanners developed by SATIMO INDUSTRIES using its "microwave vision" technology, ORBIT/FR products developed through a state-of-the-art technology of high-performance positioners and electromechanical scanners, AEMI high performing absorbing materials, and now REMC provider of specialized shielded chambers. MVG is located in 9 countries - France, Italy, Germany, UK, Sweden, USA, Israel, China, and Japan, and has more than 260 employees. The group boasts a client base including several large international companies. MVG achieved a turnover of € 44.03 million for the year end 31 December 2011. MVG has been awarded the OSEO certification "Innovative Company". Alternext, code ISIN FR 0004058949 |For more information, visit: http://www.microwavevision.com