Friday, March 28, 2008

MIC Electronics secures orders worth Rs 61cr

MIC Electronics,(Dr.M.V.Rama Rao, MD&CEO) a player in Light Emitting Diode (LED) display systems has received an order and license from Delhi Metro Rail Corporation for installation and maintenance of 25 full colour day and night LED Video display boards at 8 metro stations of line-3.

The installation is worth Rs 45 crore and will be implemented over the next six months. These LED displays will be networked and controlled from a single location and are first of its kind for Indian Railways.

The company also announced that its wholly-owned subsidiary, Maave Electronics has received orders from different zonal divisions of Indian Railways along with the coach factories for the supply of approximately 20,000 coach emergency LED lamps worth over Rs 8 crore.

Also, MIC Electronics, US based wholly-owned subsidiary and LEDSTAR of Canada have entered into a strategic partnership to deploy Intelligent Transportation Systems (ITS) and LED single / full colour Variable Message Signs (VMS). The partnership enables MIC Electronics to address the rapidly growing ITs / VM3 market in India.

MIC Electronics received its first order from GMR Expressways, India for LED Variable Message Signs (VMS) for highway projects in Andhra Pradesh & Tamil Nadu. The order size is Rs 8 crore.

The company also announced that it has developed a global digital billboard exchange solution, GLOBIX, in collaboration with its subsidiary, InfoSTEP Inc. The GLOBIX solution facilitates clients to reach out to most optimal Out-of-home (OOH) advertisement locations to target brand advertising. The billboards owners will be able to optimize the utilisation of their advertisement space.

GLOBIX will be launched with an initial database of all MIC's digital billboard locations starting with Delhi Metro Rail stations at New Delhi. The total market potential of OOH advertising is projected to be more than Rs 17.5 billion over next 3 years. GLOBIX will allow MIC to play a key role in this market.
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