Winland forms strategic relationship with a leading Commercial/Industrial Company
Sep 14, 2005
Initial Purchase Orders of $4.5 Million Through May, 2006 - Winland to prototype new product assemblies
Winland Electronics, Inc. (Amex: WEX) announced a multi-year agreement with a commercial/industrial company. Under terms of the agreement, Winland will initially produce 10 unique assemblies for this customer while prototyping six additional assemblies for future products envisioned by the customer.
The agreement does not have a set duration, and will continue on an on-going basis with mutual cancellation rights. Winland will be manufacturing the customer's current and future turnkey printed circuit board assemblies and box-build products. Winland has received initial purchase orders totaling $4.5 million for deliveries between now and May 2006 and expects to begin reporting revenue from this agreement in the third quarter.
"We are pleased to enter this marketplace with this relationship, both for supply of existing assemblies to meet their current needs and to be involved directly in the prototyping of new products for the future," commented Dale A. Nordquist, Winland's Senior Vice President of Sales and Marketing.