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Exchange Income Corp. (TSX:EIF) says a subsidiary has won a contract to provide cellphone towers to U.S. telecommunications giant AT&T that could be worth more than $500 million in revenue over the next three years.
WINNIPEG
Exchange Income Corp. (TSX:EIF) says a subsidiary has won a contract to provide cellphone towers to U.S. telecommunications giant AT&T that could be worth more than $500 million in revenue over the next three years.
EIC’s WesTower Communications has been selected in a competitive bidding process to be either the primary or secondary provider of network infrastructure services to AT&T (NYSE:T) in five geographical regions in the United States.
“The total dollar amount of the award will depend on AT&T’s infrastructure plan, which may vary significantly year to year, including the type, amount and location of the work,” EIC said in a release. “However, based on the history of AT&T’s infrastructure work over the past couple of years, EIC management believes that the additional revenue potential from this contract could be in excess of $500 million over the three-year term of the contract.”
CEO Mike Pyle added the contract significantly extends work WesTower currently performs for AT&T and provides it with &lrdquo;a solid base of work over the next three years.’’
WesTower CEO Mike Jarvis said his company, which designs, builds and installs cellphone towers, has been positioning itself for years to have the “resources, capabilities and proven service record with AT&T to be awarded a contract of this scale.’’
EIC currently operates in two niche segments: aviation and specialty manufacturing. The aviation segment consists Perimeter Aviation, Keewatin Air, Calm Air International and Bearskin Lake Air Service and the specialty manufacturing segment consists of Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, Stainless Fabrication and WesTower Co.
News from © Canadian Press Enterprises Inc., 2011
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