Lipman Electronics Engineering estimates that the total project is worth $35 million, in several stages.
Lipman Electronics Engineering (TASE:LPMA) is expanding its business in Turkey. The company announced today that it would supply $7 million worth of POS terminals within a month to IsBank, Turkey’s largest bank. Lipman believes that winning the first stage tender will increase its chances of winning later stage tenders to supply tens of thousands of additional terminals. Lipman estimates that the total project is worth $35 million, in several stages.
The order includes Nurit 3020 terminals, Lipman’s largest selling product in Turkey, and Nurit 8000 wireless terminals, the company’s latest product. Lipman currently supplies 90% of Turkey’s wireless credit terminals.
IsBank joins Lipman’s two other Turkish customers, AK Bank and YKB, strengthening the company’s position in the Turkish market. Lipman has designated Turkey as a strategic market.
Published by Globes [online] - www.globes.co.il - on March 24, 2003