UEC Technologies, a Durban-based subsidiary of the Altech group, has won a three-year contract, valued at R302 million for the first year, from its Australian pay TV customer, Foxtel.
Altech CEO, Craig Venter, says UEC was able to secure the three-year contract with Foxtel to supply it with satellite and cable set-top boxes (STBs) following announcements by the company regarding its intention to start digitising its cable network by early next year.
"The first of these products will start shipping form our Mount Edgecomb plant later this year, while UEC has already received fixed orders for the period up to the end of next year," he says. "In addition to this contract, and as a prime supplier of satellite STBs to Foxtel for the past year years, UEC has also secured a long-term services agreement for the upgrading and maintenance of the entire installed base of Foxtel`s STBs."
The new products being supplied to Foxtel differ from previous models supplied because they incorporate UEC`s latest technology required for interactivity and return path communication.
The company has established a service centre in Sydney, as Venter states the service agreement was of great importance to UEC.
"This flow of recurring revenue is significant, especially considering global economic conditions," he says.
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