CORONA DEL MAR, Calif., July 6, 2009 (GLOBE NEWSWIRE) -- ICC Worldwide, Inc. (OTCBB:ICCW) today announced that a major milestone has been achieved in the ongoing development of a multi-year services and support agreement with TEANET, the communications and internet services arm of Gruppo TEA Spa. Gruppo TEA is a large, well established public utility organization in Northern Italy. The firm provides a broad range of services to its 250,000 commercial and residential customers including: electricity, gas, water, sanitation, sewer and trash collection/disposal. TEA also provides an extensive network of broadband-based communications and internet services to its customers.
Rich Lauer, ICC's President & CEO stated, "We previously announced a preliminary agreement with TEA which allowed ICC to begin initial technical work on this opportunity. A formal open bidding process has now been completed where ICC, in conjunction with our network technology partner, Soleto Spa have been formally designated as the winners of a twenty year contract to operate and provide telephony and broadband services to TEA's customer base. These services will be delivered utilizing TEA's extensive network of fiber optic cable and high performance wireless transmission capabilities. Broadly speaking, under this agreement TEA will provide the network infrastructure and customer base. Soleto will provide the network engineering, cabling, and on site customer installation capabilities. And ICC will deliver advanced telephony capabilities including CENTREX telephone switching capabilities and system management. Plans are also being made for other services such as residential telephone service and IPTV (Internet Protocol-based Television) to be provided to the TEA customer base."
Lauer went on to say, "The services provided to the TEA customer base will produce substantial, sustainable long term revenue to ICC. For ICC, both the TEA and immigrant segments are quite complimentary to our business. It is also important to note that the margins associated with the TEA segment of our business will be much stronger than those provided by our immigrant-related activities. We hope to see initial revenue from the TEA activities at the end of our current quarter. This will grow rapidly and become quite significant over the 4th calendar quarter of 2009 and beyond."
About ICC Worldwide:
ICC Worldwide, Inc. (OTCBB:ICCW) provides a specialized range of wholesale communications services and products to an extensive channel serving the diverse immigrant worker communities in various parts of Western Europe. ICC also partners with local utility organizations to provide advanced telephony products and services to the utility's customers. The firm's principal operating units are located in Italy, Belgium, Spain, and Romania; while ICC's U.S. headquarters is based in the Southern California community of Corona del Mar.
Forward-Looking Statements:
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