Zecotek Signs Letter of Intent with Fujikura Ltd. of Japan for Manufacturing and Distribution of Key Zecotek Products
Vancouver, October 15, 2007 - Zecotek Medical Systems Inc. (TSX-V: ZMS; Frankfurt: W1I) today announced that it has signed a letter of intent (LOI) with Fujikura Ltd. of Japan (Fujikura) to negotiate terms of a proposed business partnership which would feature the manufacture and distribution of certain technologies and products, including Zecotek’s new line of fiber lasers and a detector block consisting of Zecotek’s proprietary solid-state photo detectors and LFS scintillation crystals.
“We consider our fiber laser technologies to be leading edge and we are very pleased that Fujikura shares our enthusiasm,” said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek. “Fujikura is the world leader in fiber development and manufacturing and, with its strong brand and global distribution network in the scientific, industrial and consumer sectors, represents an outstanding partner for Zecotek to pursue the rapidly growing fiber laser market. We will also look to Fujikura’s manufacturing expertise to complete the commercialization of other key products, notably our photo detector arrays for medical and non-medical imaging.”
The LOI calls for both parties to lay the groundwork for a joint relationship whereby Zecotek and Fujikura would collaborate on an ongoing basis in the manufacture and commercialization of a number of Zecotek’s products. Under terms to be agreed, Fujikura could contribute capital investment, technical support and manufacturing know-how for certain products that can be licensed for manufacture and distribution by Fujikura or under a joint venture arrangement. The LOI calls for a period of three months to conclude negotiations during which time both parties have agreed not to solicit alternative proposals.
About Fujikura Limited
Fujikura is a leading manufacturer of world-class optical fiber communication cables. It is also active in optical components, optical instruments, new electronic and automotive components, and the development of new technologies. Fujikura Ltd commemorated the 120th anniversary of its founding in 2005. Today, the scope of its business has broadened beyond core cable products for the electrical power industry and plants, and encompasses the electronic equipment, auto and telecommunications industries. Fujikura relentlessly strives to create novel solutions through R&D and has delivered leading products, such as optical fibers and flexible print circuits. For more information, please visit www.fujikura.co.jp.
About Zecotek
Zecotek Medical Systems (TSX-V: ZMS; Frankfurt: W1I) is a bio-photonics technology company developing high-performance crystals, photo detectors, medical lasers, optical imaging and 3D display technologies for commercial applications in the medical diagnostics and high-tech industry. Founded in 2003, the company has three distinct operating divisions: medical imaging, medical lasers and 3D display and labs located in Canada, Singapore and Russia. Zecotek commercializes its novel, patented and patent-pending bio-photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders. For more information, please visit Zecotek Photonics.
This press release may contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what may have been stated.
For additional information please contact:
Zecotek Medical Systems, Inc.
MICHAEL MINDER
CFO; VP Corporate Development
T: (604) 827-5203
Caliber Capital Partners
TIM MCNULTY
T: (778) 327-6678
E: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. If you would like to receive news from Zecotek in the future please visit the corporate website at Zecotek Photonics.