TORONTO, July 26, 2005 (PRIMEZONE) -- Innotelco, Inc. (Pink Sheets:ILCO), a marketer and distributor of telecom hardware and network solutions, today reports significant progress regarding its joint venture with Kaner Inc., signed May 10, 2005. "The venture has already produced excellent results and is positioned to yield even greater returns as we proceed into the future," said Ross Sehovic, CEO of Innotelco.
Kaner Inc., at the request of Innotelco, has attended several conferences on their behalf over the last month. Attendance at these conferences has provided Innotelco an increasing presence in the region, and has led to several prospective business ventures.
"Several members of Innotelco's management, including the vice president of sales and marketing, recently met with the counsellor of the economic and commercial section from the embassy of Bosnia and Herzegovina in Ottawa, in advance of our upcoming visit to Balkan region. Once our meetings in China are completed, we will be meeting with government officials there to discuss business possibilities," added Mr. Sehovic.
Sehovic also noted the growing interest and surging capital investment in the region. "Paul Wolfowitz, President of World Bank Group, visited the region just last week and commented on the great improvement over the last five years." Furthermore, "World Bank Group has pledged 550 million euros for development in part of the Southeastern region of Europe to re-establish its communications infrastructure. In addition, we expect a majority of tenders to be released this fall and winter."
About Innotelco, Inc.
Innotelco is a telecom hardware supplier, specializing in servicing emerging markets looking to expand their telecommunications networks. Innotelco's products range from indoor and outdoor coaxial cables and accessories to fibre optics and switching equipment.
Safe Harbor Statement
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