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NTG Clarity
Networks Inc.
(CDNX: NCI),
a leader in
delivering
network, IT
and infrastructure
solutions
to telecommunications
service providers,
is pleased
to announce
that it has
entered into
an agreement
with CIDA's
Industrial
Cooperation
Program. Through
this agreement,
CIDA will
contribute
up to 70%
of the costs
involved in
preparing
a viability
study and
implementation
plan to develop
NTG Clarity's
wholly owned
Egyptian subsidiary,
NTG Clarity
Egypt Advanced
Software.
The grant
will enable
NTG Clarity
to build the
new subsidiary
as a profitable
business,
utilizing
the proven
technology
and strong
knowledge
base from
its Canadian
operations.
The plan will
also look
at ways to
ensure that
the project
returns positive
social and
economic impacts
to the host
country, Egypt.
"NTG
Clarity is
committed
to expanding
the capabilities
of our Egyptian
operation
to provide
the NTG Clarity's
full suite
of telecom
and networking
services and
to develop
world class,
competitively
priced software
products,"
says Ashraf
Zaghloul,
Chief Executive
Officer and
Chairman of
NTG Clarity
Networks.
"CIDA's
assistance
will help
us to aggressively
pursue International
business opportunities,
particularly
in the rapidly
growing Middle
East and African
market."
"We
plan to use
the CIDA funds
to focus on
three primary
areas,"
says Adel
Zaghloul,
Chairman and
Chief Executive
Officer of
NTG Clarity
Egypt. "Our
emphasis will
be on implementing
up-to-date
business management
policies,
establishing
project development
methodologies,
and developing
our human
resources.
We are excited
to now have
the means
to model our
Egyptian operations
after the
success NTG
Clarity has
experienced
in the North
American marketplace." |