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MoviStar Signs Multi-Year Value-Added Services Agreement With Brightstar Puerto
Rico
MIAMI, Nov. 11 /PRNewswire/ -- Brightstar Corporation, a distributor and
provider of value-added services for the wireless telecommunications industry,
announced today its subsidiary Brightstar Puerto Rico has signed a multi-year
agreement with MoviStar. Under the terms of the agreement, Brightstar will
support all of MoviStar's key supply chain activities.
Among the services Brightstar will provide are: product procurement, inventory
management and logistics, order fulfillment, financial services, web-based
solutions and reverse logistics. Brightstar will expand its facility to support
MoviStar and expects to process more than 200,000 phones annually through this
contract.
"MoviStar focuses on providing value to customers and shareholders," said
Claudio Hidalgo, general manager of MoviStar Puerto Rico. "This alliance will
allow to offer more agility to our business, providing better service to our
clients."
Hildago added, "We concentrate on providing the latest technology in mobile
phones and features to offer the highest quality products and services to
clients. The partnership between MoviStar and Brightstar allows us to
successfully achieve these goals."
Eduardo Barreto, general manager of Brightstar Puerto Rico, said, "MoviStar's
reputation for innovation and high quality service makes them an excellent
partner for Brightstar. We're thrilled to provide them with our value added
services to support their customers and assist them in containing costs."
Brightstar Corp. is a privately-held company that has achieved extraordinary
growth; almost doubling its revenues each year since its founding in October
1997 -- $73 million in 1998, $140 million in 1999, $355 million in 2000, $631
million in 2001 and $849 million in revenues in 2002.
About MoviStar Puerto Rico
MoviStar is the leader in innovative wireless services in Puerto Rico and
operates an island-wide CDMA state of the art network. The company is managed
by Telefonica Moviles (NYSE: TEM; MC) the leading company of wireless services
in Spain, with operations in Latin America and the Mediterranean region.
Telefonica Moviles has more than 46 million customers worldwide. It had a net
profit of 779 million euros in the first half of 2003. In Puerto Rico, MoviStar
operates 12 stores around the island. For more information, please visit our
web page at: http://www.movistarpr.com/ .
About Brightstar
Founded in 1997, Brightstar Corporation is a solution provider and value- added
distribution and manufacturing services company. The company provides customers
in the wireless industry with inventory management, logistics, fulfillment,
Internet-based solutions, customized packaging and after-sales support.
Brightstar was recently named to the Inc. 500 list of fastest growing private
companies in the United States and ranks second on the Hispanic Business 500.
Its customer base includes over 160 network operators and nearly 15,000
distributors, agents, resellers and retailers around the world. Brightstar is
one of Motorola's strategic partners in Latin America and the U.S. and an
authorized distributor for all leading wireless equipment manufacturers.
Brightstar operates 20 facilities in 16 countries worldwide. Its headquarters is
based in Miami, FL, with operations in Argentina, Bolivia, Brazil, Chile,
Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Guatemala,
Mexico, Paraguay, Peru, the United States and Puerto Rico and Venezuela. During
the year ended December 31, 2002, Brightstar's consolidated revenues were $849
million. The company has exceeded $1 billion in consolidated revenues in the 12
months of operations from June 2002 - May 2003. For more details, visit
http://www.brightstarcorp.com/ .
DATASOURCE: Brightstar Corporation
CONTACT: Oscar Fumagali of Brightstar, +1-305-921-1117,
Web site: http://www.brightstarcorp.com/
http://www.movistarpr.com/