WEST MELBOURNE, Fla.-Relm Wireless Corp., a manufacturer of wireless communications equipment, reached an understanding with Simmonds Capital Ltd. on terms for the purchase of certain wireless communication assets owned by Simmonds.
The proposal calls for Simmonds to receive common shares of Relm Wireless for the assets and related Midland International intellectual property rights for wireless land mobile radio products sold outside of the United States under the Midland International trademark.
Relm noted the transaction would not include the transfer of any rights to use the “Midland” trade name in the United States, which is held by Securicor Wireless Holdings Inc. of Kansas City, Mo.
“I want to make it clear that our transaction with Simmonds Capital is completely unrelated to the Midland U.S. activities of Securicor Wireless,” explained Richard Laird, president and chief executive officer of Relm. “I regret any confusion which our earlier announcement may have caused to Securicor Wireless, their customers, employees and stockholders.”
