JSC SAF Tehnika (NASDAQ:SAF1R) announces the establishment of a subsidiary SAF Asia Ltd in Singapore. The company will be wholly owned by JSC SAF Tehnika.

SAF Asia Ltd's primary mission will be to provide customers in the Asia-Pacific region with custom-designed and efficient wireless data transmission and sensor solutions. Products and services are intended for both private and public companies that need to ensure high-quality wireless data transmission in telecommunications projects and industrial segments where the IoT ecosystem could be applied.

A/S SAF Tehnika board member Z. Jozepa informs that so far sales in the countries of the Asia and Pacific region were coordinated from Latvia. A closer presence is needed to promote business development in the mentioned region (especially in the IoT segment). The Asian market, which is vast and different from the markets learned so far, requires a much deeper understanding, presence, and relationship building.

"We are very happy about the company's board decision to establish this subsidiary. This will certainly help to improve SAF Tehnika's ability to provide strong support to local clients who need both individual consultations and specialized service solutions in cooperation with partner companies, and will promote SAF Tehnika's business development in this fast-growing market," adds sales director J. Isarovs.

 About SAF Tehnika:

„SAF Tehnika” JSC is an ISO certified wireless data transmission equipment manufacturer. The company's products are produced in Latvia, Europe and sold in over 130 countries worldwide. „SAF Tehnika” has been listed on Nasdaq Riga since 2004. SAF Tehnika wholly owns subsidiary “SAF North America” LLC, which operates from Denver, CO, USA and serves the North American market.

         Additional information:
         Zane Jozepa
         CFO, Member of the Board
         zane.jozepa@saftehnika.com
         www.saftehnika.com