LONDON, Feb. 28, 2007 (PRIME NEWSWIRE) -- New Medium Enterprises (NME) (OTCBB:NMEN) today announced that it has signed an agreement to sell its first Versatile Multilayer Disc (VMD) universal lines to Bars Media Group based in Kazan, Russia.
According to the agreement, NME will supply a total of 10 lines to Bars Media Group over a three year period and Bars Media will be the exclusive agent of the multilayer VMD format in Russia. VMD lines will produce DVD-5, DVD-9, VMD 20 & 24 -- red laser 20 GB & 24 GB disc. This line is designed for upgrade to manufacture VMD 60, blue laser 60 GB disc. The VMD line built by VDL-ODMS will be in production Q3 2007. Bars Media Group and NME concluded this transaction on 17 February in Kazan, Russia.
"The agreement with Bars Media Group expands NME's global distribution for VMD in an important region that is need of a viable and cost-effective HD solution," said NME CEO Mahesh K. Jayanarayan. "Joint marketing efforts between Bars Media Group and NME will drive awareness of VMD in Russia, one of the world's fastest growing regions for home entertainment consumption, and throughout the Far East region."
Bars Media Group is one of the leading innovative replicators in the region and supplies its various products to regions of the Russian Federation and CIS. Currently, Bars Media features Singulus and ODMS replication lines. The group is a media conglomerate involved in newspaper publishing, TV and various other media services.
"We have spent considerable time over the last several months understanding and validating the technology and are happy to be the early adopters of this multilayer format in our region," said General Director, Marat Garaev, Bars Media Group. "This will give us a head start over other formats in the region and also be able to address the rampant piracy problem in our region in the DVD sector."
HD VMD is currently being adopted by content providers and distributors in 12 regions worldwide, including Brazil, Central Europe, China, France, Germany, Iceland, India, Japan, the Middle East, Russia, Scandinavia, and the United States.
About NME
New Medium Enterprises HD VMD format and players provides the world's only low-cost and true high-definition playback solution utilizing today's red laser technology and existing DVD industrial infrastructure. Incorporating break-through optical storage capacity, a red laser-based HD file format, encryption technology, authoring tools and compression technologies, NME is providing the only high-quality and high-value offering for the discerning consumer electronics market. New Medium Enterprises, Inc. is listed on the OTC exchange in the U.S. under the symbol NMEN. For additional information about NME, please visit http://www.nmeinc.com.
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