Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Telit Communications PLC
  6. News
  7. Summary
    TCM   GB00B06GM726

TELIT COMMUNICATIONS PLC

(TCM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Telit Communications : Expands Latin America Leadership with Expanded Hi-Mix Partnership in Brazil

06/02/2021 | 09:03am EDT

Telit Expands Latin America Leadership with Expanded Hi-Mix Partnership in Brazil

Telit's decade-long partnership with Hi-Mix provides Brazil users with extensive IPI tax savings and an even more compelling upgrade path from 2G and 3G to 4G LTE

Hi-Mix is initially manufacturing the Telit ML865G1-WW module in April 2021, with a roadmap that includes ME310G1-WW, ME910G1-WW and LE910S1 modules

London, June 2, 2021 - Telit, a global enabler of the Internet of Things (IoT), today announced an expansion of its partnership with Hi-Mix Eletrônicos S/A, an Electronic Manufacturing Service (EMS) provider in Brazil, to include production of LTE modules. The expansion directly benefits Telit customers in Latin America by enabling them to take advantage of two major tax credits for modules manufactured in Brazil.

The partnership expansion provides device OEMs and systems designers with a 100 percent exemption from Brazil's Imposto sobre Produtos Industrializados (IPI) federal tax levied on imported products if they source Telit's LTE modules from Hi-Mix. In addition, customers receive the Brazil Basic Productive Process (PPB) tax benefit from the purchase of cellular modules made in Brazil.

For over a decade, Telit and Hi-Mix have jointly manufactured 2G and 3G modules in Brazil. Under the expanded partnership, Hi-Mix will initially produce the Telit ML865G1-WW 4G LTE modules in April 2021, with future expansion to manufacture the ME310G1-WW and ME910G1-WW modules as well the LE910S1 Family of LTE modules.

'For over a decade, our partnership with Telit has ensured convenient domestic access to innovative, affordable, high-performance 2G and 3G solutions,' said Daniel Carvalho, sales director, Hi-Mix. 'This expansion gives Brazil's device vendors and systems designers a broad selection of 4G solutions - and at significant savings compared to imported products.'

'By expanding our partnership with Hi-Mix, we've reinforced our commitment to OEMs, systems integrators and other customers in Brazil and the rest of the LATAM region,' said Dennis Kelly, senior vice president sales Americas, Telit. 'Beginning with the Telit ML865G1-WW, users can leverage both Telit's leadership in LTE and a significant IPI savings, giving them both competitive and financial benefits that wouldn't be possible without our close relationship with Hi-Mix.'

Disclaimer

Telit Communications plc published this content on 02 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2021 13:02:04 UTC.


© Publicnow 2021
All news about TELIT COMMUNICATIONS PLC
07/29SAMSON ROCK CAPITAL LLP - REISSUE : Form 8.3 - Telit Communications Plc
PR
07/29BAP/COMMS LOGISTICS : - Form 8.3 - Telit Communications Plc
PR
07/28TELIT COMMUNICATIONS : Form 8.5 (EPT/RI) - Telit Communications Plc
AQ
07/26TELIT COMMUNICATIONS : DBAY's $440 Million Takeover Of Telit Wins Italy's Approv..
MT
07/23TELIT COMMUNICATIONS : Shareholder Signs Letter of Intent to Support $422 Millio..
MT
07/20TELIT COMMUNICATIONS : Board Backs DBAY's Sweetened $435.7 Million Bid Despite B..
MT
07/16TELIT COMMUNICATIONS : Samson Rock Capital LLP - Form 8.3 - Telit Communications..
PR
07/15TELIT COMMUNICATIONS : Receives Deutsche Telekom 5G Certification
PU
07/15Telit Receives Deutsche Telekom 5G Certification
CI
07/14TELIT COMMUNICATIONS : Samson Rock Capital LLP - Form 8.3 - Telit Communications..
PR
More news
Financials (USD)
Sales 2021 383 M - -
Net income 2021 17,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 24,9x
Yield 2021 -
Capitalization 425 M 425 M -
Capi. / Sales 2021 1,11x
EV / Sales 2022
Nbr of Employees 820
Free-Float 47,7%
Chart TELIT COMMUNICATIONS PLC
Duration : Period :
Telit Communications PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TELIT COMMUNICATIONS PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts 1
Last Close Price 3,16 $
Average target price 4,68 $
Spread / Average Target 48,1%
EPS Revisions
Managers and Directors
Paolo dal Pino Chief Executive Officer & Executive Director
Eyal Shefer Chief Financial Officer & Executive Director
Simon Patrick Duffy Independent Non-Executive Chairman
Antonino Sgroi Head-Global Research & Development
Yamit Sela Chief Information Officer