In May 2002 Redstone proudly announced the formation of a strategic partnership with BT Wholesale ('BTW') as part of our continued highly successful transformation to an end to end communications services provider. Under the agreement BTW has acquired Redstone's national telecoms network and will run it on our behalf for an initial period of 6 years. We believe the agreement to be both innovative and ground breaking in nature, and it is anticipated to enhance EBITDA and gross margin performance. Further, this has cemented our transformation to a communications services provider able to offer customers a full portfolio of communication products and services.
During this time we have continued to win substantial new orders and in particular have won contracts worth over £1 million with Plymouth University, Syngenta and Lambeth, Southwark and Lewisham Health Authority.
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