The text was available in German language only. Translation by Google as below:
22.03.2010 10:00, MUNICH
Cinterion Wireless Modules Holding GmbH restored financial structure
• Operations of the Cinterion Wireless Modules GmbH is not affected
• Profitable growth continues
The Cinterion Wireless Modules Holding GmbH restored its financial structure. The operational business of the world’s leading provider of wireless modules for machine-to-machine (M2M) communication will be conducted in Cinterion Wireless Modules GmbH and is not affected. As in 2009, is the operative
Company to grow and remains profitable. This is confirmed by a recent report by Pricewaterhouse Coopers (PwC).
The management of Cinterion Wireless Modules Holding GmbH has today, Monday, 22 March 2010, at the competent local court Munich request to open insolvency proceedings for the Cinterion Wireless Modules placed Holding GmbH. The Insolvency Act provides the opportunity to rehabilitate the financial structure of a company without affecting the ongoing operations of subsidiaries.
The operations of Cinterion Wireless Modules GmbH will be unaffected and will run on all sites without further restrictions. The Cinterion Wireless Modules GmbH registered in the course of 2009 a strong business growth of about 40%, generated positive operating results and has high liquidity. For 2010, the company aims to double-digit growth and is in the first quarter in the plan.
The Cinterion Wirelss Modules GmbH is the market leader in the future market for mobile machine-to-machine (M2M) communications. Cinterion has a broadly diversified portfolio of clients and is an innovative company with excellent prospects. The innovation ability will be documented including by the recent awards such as the recently acquired GSMA Award for Best Embedded Modules, Mobile Best Mobile Embedded M2M service.
About Cinterion Wireless Modules
Cinterion Wireless Modules is the world’s leading provider of wireless modules for machine-to-machine (M2M) communications. Cinterion offers with its extensive portfolio of high quality GSM, GPRS, EDGE, UMTS and HSPA products a unique expertise in the M2M industry, and one tailored to local needs worldwide customer support. The company has many customers because of its high-quality modules is a very valued and reliable partner. With the help of Cinterion modules can exchange information of various devices and applications such as machinery, machines, vehicles or computers are significantly optimized over mobile networks. This increase company productivity. All Cinterion products are approved by network operators and the FTA and are used in various industries, such as for remote maintenance, tele-services, metering, POS systems, industrial PDAs, routers and gateways, security, health, automotive, eToll systems, tracking – and tracing applications. The company headquarters is in Munich, with global sales offices. More information about Cinterion Wireless Modules, please visit www.cinterion.com
For further questions please contact:
rw Concept GmbH – Agency for Enterprise Communications
Martin Scherer
Mobile: 0049 160 97266317
E-mail: presse@cinterion.com