Brazilian Firm Extends STM Wireless Deal
<i> Dow Jones</i>
STM Wireless Inc. said it has received a contract extension from Embratel Participacoes SA, a Brazilian telecommunications carrier, for communications equipment that will be used to connect Embratel’s operating area with Brazil’s Public Switched Telephone Network.
Irvine-based STM said the contract brings the total value of the original order, which it received in August 1998, to $2.2 million. The network expansion is scheduled to be completed by December.
STM shares closed Wednesday at $3.50, up 38 cents in Nasdaq market trading.
