CORPAC Awards Gilat Multi-Million-Dollar Contract to Provide Mission Critical Telecom Systems for Peru's Airports

Rhea-AI Summary

Gilat Satellite Networks (NASDAQ: GILT) has secured a multi-million-dollar contract from CORPAC to implement mission-critical telecom systems at 29 airports in Peru. This contract reinforces Gilat's expertise in large-scale government projects, enhancing their position for future opportunities in Peru. The project includes designing, supplying, and commissioning equipment for Communication Navigation and Surveillance services. With this strategic engagement, Gilat aims to significantly boost its business presence in the region.

Positive

• Secured a multi-million-dollar contract from CORPAC for telecom systems at 29 airports.
• Reinforces reputation for executing large-scale government projects.
• Positions Gilat for further significant deals in Peru.

Negative

• None.

PETAH TIKVA, Israel, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that it was awarded a multi-million-dollar contract to provide mission critical telecom systems for 29 of Peru's airports. The award of high-availability communication system was granted by CORPAC, the Peruvian Corporation of Commercial Airports and Aviation. This award follows Gilat's successful execution of large government projects and well positions Gilat for additional large deals in Peru.

CORPAC is a government entity in charge of the administration of most of the airports in Peru. Gilat will design, supply, implement and commission equipment for Communication Navigation and Surveillance (CNS) services in Peru's airports.

"Gilat was selected by CORPAC due to its proven execution capabilities of large-scale government projects," said Arieh Rohrstock, General Manager Gilat Peru and Corporate VP. "This project will open the door to additional large deals as we intend to deliver upon our strategy of significantly increasing business in Peru."

About Gilat
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).

Gilat’s comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.com

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

Contact:
Gilat Satellite Networks
Doreet Oren, Director Corporate Communications
DoreetO@gilat.com

GK Investor and Public Relations
Ehud Helft, Managing Partner
ehud@gkir.com

 

FAQ

What contract did Gilat (GILT) secure in February 2021?

Gilat secured a multi-million-dollar contract from CORPAC to provide telecom systems for 29 airports in Peru.

Why was Gilat (GILT) selected for the contract with CORPAC?

Gilat was chosen due to its proven execution capabilities in large-scale government projects.

How does the new contract impact Gilat's business outlook?

The contract enhances Gilat's position for future opportunities and aims to significantly increase its business in Peru.

What services will Gilat (GILT) provide under the CORPAC contract?

Gilat will design, supply, implement, and commission equipment for Communication Navigation and Surveillance services.