Fastrax finds European distributors

18 Jun 2002 at 06:00 GMT Timo Poropudas

Finland-based Fastrax Ltd., a developer of products utilizing GPS, has in June signed a representation and distribution agreements in U.K. and Germany.

UK specialist semiconductor distributor 2001 Electronic Component will start representing and distributing Fastrax's GPS module in the UK and in other major European countries. 2001 Electronic Component is one of the largest independent semiconductor distributors in the UK with a strong market and brand awareness and a large customer base.

"At the moment there is a growing market opportunity for products utilizing GPS positioning. Several manufacturers implementing positioning features in their products are looking for reliable and accurate GPS modules with small size and low power consumption. Fastrax's iTrax02 module complements our current portfolio, as we are moving towards special wireless technology components. iTrax02 module has a unique market opportunity for which we can offer skilled technical and commercial support", said Gordon Serpis, marketing manager, 2001 Electronic Component.

German GLYN GmbH & Co. will distribute Fastrax's components Germany, Benelux and Austria.

Fastrax has financial backing from several well-known Finnish investors, including CapMan, Eqvitec, Startupfactory, Innocap and high tech sports product maker Suunto.