For immediate release: 21 May 2009, 7AM
FeONIC Enters Norway through Exclusive Distribution Agreement with ConnectIT
FeONIC Plc ("FeONIC" or "the Company"), the innovative UK audio technology
company, is pleased to announce it has signed an agency agreement with
Norway-based supplier of complete multimedia solutions, ConnectIT.
ConnectIT produces bespoke multimedia presentations for store chains, shopping
malls and stores, providing its clients with custom-made, ready-to-go solutions
that include software, hardware, video walls and projectors.
Under the terms of the distribution agreement, ConnectIT will be the exclusive
provider of FeONIC's audio solutions in Norway, distributing the products as
part of their digital information distribution (DID) systems. The DID systems
include TVs, monitors and projectors and can support text, ads, pictures, flash
and video sequences.
The FeONIC technology allows its audio products to turn virtually any surface
or structure into a high quality loudspeaker with evenly distributed sound. The
sound drives can be integrated with any existing audio source, such as PCs,
projectors and video walls. As such, FeONIC's audio drives will add a new
dimension to ConnectIT's "ready-to-go" solutions that have been designed to
allow multimedia presentations/video walls to be set up whatever the location.
Brenda Hopkins, chairman of FeONIC, commented:
"The synergies between FeONIC's audio products and ConnectIT's DID systems are
obvious. Working alongside such an organisation opens up a whole new market to
the business that to date we have not explored."
Håkon Paulsen, director of ConnectIT, added:
"FeONIC's audio drives add a unique twist to our multimedia presentations. They
offer a versatility and flexibility that no other product in the market can
match."
--ENDS--
Notes to Editors
1. On 12 May 2009, FeONIC announced an exclusive agency agreement with
Techtonic Architechtural Solutions as a sales agent for FeONIC audio
products to the construction markets in Jordan, Syria, Lebanon, Iraq, Saudi
Arabia, Qatar, Bahrain, United Arab Emirates, Oman, Kuwait, Egypt and
Libya.
2. On 30 April 2009, FeONIC released the Company's Interim Results which saw
losses cut from £308,883 for the year to £26,680 for the half year.
3. On 13 March 2009, FeONIC announced an exclusive distribution partnership
for the UK and Ireland audio installation markets with RSA.
4. On 15 January 2009, the Company announced the formation of FeONIC (SEA)
Distribution Pte Ltd with a South East Asia distributor to act as the
exclusive distribution and services partner for Singapore, Malaysia,
Indonesia, Vietnam and the Philippines. The formation was accompanied by an
initial £124,378 of FeONIC product by FeONIC (SEA) Distribution Pte Ltd.
5. On the 22 December 2008, FeONIC announced in its Final Results for the year
ended 31 July 2008 that Chinese production facilities were now fully in
place for its Audio Drives.
6. In a trading update issued 9 September 2008, the Company announced
distributors were now active in Japan, Hungary, Brazil, Singapore and
Australia.
7. On 17 April 2008, the Company announced the formation of FeONIC Transport
Limited with First Class Partnerships for the sale and distribution of
FeONIC product into the railway and transport market.
About FeONIC
FeONIC Plc (PLUS: FEO) designs, develops, manufactures and distributes a range
of uniquely powerful audio products. The company's technology turns virtually
any resonant structures and surfaces into loudspeakers. The products are
currently used in public buildings, the transport industry and the marine
environment and are also available for home use. www.feonic.com
About ConnectIT
ConnectIT supply complete multimedia solutions to produce specially adapted
multimedia presentations for B2B, store chains, shopping malls and stores.
ConnectIT combines the best from the multimedia world, such as text, audio and
all types video formats including high definition, using advanced background
effects and translations, which in turn is used by international TV stations
and some of the biggest advertising companies around the world.
For Further Information:
FeONIC Plc
Brenda Hopkins,
Chairman Tel: 01482 806688
Graham Beswick,
Finance & Commercial Director Tel: 0779 8937021
Gth media relations
Christian Pickel Tel: 020 7153 8036
Toby Hall Tel: 020 7153 8039
ConnectIT
Håkon Paulsen Tel: +47 45 83 29 23
The directors of FeONIC Plc accept responsibility for this announcement.
END