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Zecotek & Fujikura Announce Agreement
February 25, 2008
Zecotek and Fujikura Ltd. of Japan Sign Manufacturing and Commercialization Agreement
Vancouver, February 25, 2008 - Zecotek Photonics Inc. (TSX-V: ZMS; Frankfurt: W1I) today announced that Zecotek Laser Systems Singapore Pte Ltd., a wholly-owned subsidiary, has signed an agreement with Fujikura Ltd, Japan to develop, manufacture and commercialize Zecotek and Fujikura laser products, associated components and systems, including Zecotek’s crystal and fiber based lasers and Fujikura’s infra-red fiber lasers.
“We are delighted to have reached this important manufacturing and commercialization agreement with Fujikura, one of Japan’s leading high technology companies,�? said Dr. Zerrouk, Chairman, President and CEO of Zecotek. “The Fujikura name is well known and highly respected around the world for its sophisticated manufacturing expertise in fiber and photonic systems and components. Our immediate priorities are to begin the transfer to production of Zecotek’s new and unique class of fiber lasers, which have received excellent response from the market, and to establish a joint development program for a next generation of infra-red lasers.�?
Under the terms of the agreement, all intellectual property, products and processes in the field of lasers and lasers related fiber technologies will be ‘pooled’ into a joint development, manufacturing and commercializing program. The pool that is created will be for the sole use of the said manufacturing program, with both parties retaining all their respective rights to any and all intellectual property and know-how initially brought into the collaboration. The parties will share in any jointly created intellectual property proportional to their relative contribution. The pool will initially comprise Zecotek’s solid state and fiber based lasers and Fujikura’s newly developed infra-red fiber lasers.
Under the terms of the agreement, the parties have appointed Fujikura as the manufacturer. The agreement also includes a right of first refusal provision for Fujikura to acquire or take another form of equity position in Zecotek Laser Systems with terms to be mutually agreed.
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 product and technical information please contact:
Zecotek Photonics Inc., SUSANA MENDEZ ALCALA, [email protected]com, T: (604) 827-5232
For corporate information please contact:
Zecotek Photonics Inc., MICHAEL MINDER, CFO; VP Corporate Development, T: (604) 827-5203
For investor information please contact:
Caliber Capital & Communications, 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 www.zecotek.com.