SOURCE: IO News Wire

IO News Wire

March 09, 2010 04:00 ET

MNDP Mundus Group Opening Sales Channels in Europe

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire.

NEW YORK, NY--(Marketwire - March 9, 2010) -  Mundus Group (PINKSHEETS: MNDP) announced that they are currently in negotiations with one of their long time clients to open distribution channels in Europe.

Market research firm Forecast International recently released "The Market for UAV Reconnaissance Systems," which claims that the total unmanned air vehicle (UAV) market including air vehicles, ground control equipment and payloads is expected to be worth $13.6 billion through 2014. More than 9,000 UAVs are expected to be purchased over the next 10 years by countries in every region of the world.

Demand for UAVs also has been growing in Europe despite funding shortages for UAV programs. Most countries will look to fill their need with existing UAV's as opposed to creating a build program from scratch. Mundus subsidiary AirStar recognizes this need and is acting to fill the void as soon as it can.

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Other active stocks are Clearwire Corp (NASDAQ: CLWR) STEC Inc (NASDAQ: STEC) and Xyratex (NASDAQ: XRTX)

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