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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Silver Storm Mining Ltd | TG:SVR | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-0.01 | -9.09% | 0.10 | 0.0932 | 0.1145 | 0.10 | 0.10 | 0.10 | 10,000 | 09:18:03 |
RNS Number:9320T ServicePower Technologies PLC 07 January 2004 SERVICEPOWER TECHNOLOGIES PLC ("SERVICEPOWER" OR THE "COMPANY") Contract Award ServicePower, the recognised market leader in artificial intelligence based, field service scheduling applications, today announced it has signed a major agreement with General Electric Consumer & Industrial, referred to as GEC&I; a business unit of the General Electric Company, by which ServicePower and GEC&I will develop an innovative state-of-the-art system for processing and managing GEC&I's warranty claims and to manage the dispatching of work to key segments of GEC&I's independent servicers across the US. Since 2001, ServicePower has been providing state-of-the art scheduling software for GEC&I's employed field service technicians. ServicePower will now expand its relationship with GEC&I by providing warranty management solutions. The signing of this agreement heralds significant step forward for the business and provides an important underpinning for the growth of ServicePower. Further details of the contract are as follows: * it is estimated the contract will generate revenue in excess of 10 million pounds over a 5-year period with the revenue stream starting from February 2004; * it is the largest contract award in the history of the ServicePower Company and provides a decisive breakthrough in ServicePower's service contract scheduling model; * ServicePower will soon begin managing services despatches for part of GEC&I major appliance, consumer electronics and personal computer service needs, a new business area for ServicePower; * GE and ServicePower will together develop a step improvement of GE's digital Eta service dispatching system which, when implemented, will offer 10,000 third party servicers, and major manufacturing companies, a more efficient means of managing their consumer service * Chris Smith, previously General Manager of GEC&I Warranty Management, has agreed to join ServicePower as CEO of this new business. He will be recruiting other senior executives from the warranty industry to ensure the Company has the quality and depth of management to ensure this project is a success. The US market for an electronic claims processing and dispatch system to independent servicers is huge; research shows 40% of all service work done in the US is carried out by independent servicers. The Directors believe it will give the Company the opportunity to demonstrate the "Fulcrum" business concept to manufacturers and independent servicers across the US, with the support of GEC&I. David Brisco, CEO said, "the signing of the agreement with GEC&I is a significant event for the Company as it gives ServicePower the opportunity to become the major service supplier to the independent servicer marketplace in the US; in fact the company has already signed a Memorandum of Agreement with another major US appliance manufacturer. I expect to announce further details within the next few weeks. This new business opportunity will mean ServicePower will evolve from a software supplier to a total service provider with its attendant regular monthly revenue and cash". This gives the Directors confidence for 2004 and beyond and the Directors look forward to further updating the market in the near future. Note: ServicePower refers to the company and SERVICEPower refers to the product. Contacts: David Brisco, Chief Executive Officer Tel: 0161 476 2277 ServicePower Technologies PLC Barry Welck non-executive Chairman Tel: 07831 396539 Tom Price/Michael Brennan Tel: 020 7071 4300 Evolution Beeson Gregory Limited This information is provided by RNS The company news service from the London Stock Exchange END CNTEAPFXEEALEEE
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