January 7, 2008, Vancouver, BC, Canada--Zecotek Photonics announced that following the LOI signed in October and the recent visit by senior officials of Fujikura Ltd. to Zecotek's Vancouver and Seattle facilities, the companies have reached an agreement-in-principle, to form a partnership for the development, manufacture and sales of key Zecotek products. Under the proposed agreement Fujikura will contribute, technical support and manufacturing know-how for certain products to be manufactured and distributed by Fujikura under the partnership.
"We are very pleased that following a thorough inspection of our facilities and our technologies, Fujikura officials came to a rapid decision to proceed with our proposed partnership," said Dr. A.F. Zerrouk, Chairman, President, and CEO of Zecotek. "We see this as a very strong endorsement of both our technological leadership and our product development roadmap. Fujikura, with its technological awareness, manufacturing expertise, strong brand and global distribution network, will provide an outstanding partnership for Zecotek."
Following meetings in Tokyo in November, a delegation of senior Fujikura officials visited Zecotek's Vancouver laboratories and inspected Zecotek's 3D2D Display technology. The officials also visited laboratories at the University of British Columbia and University of Washington and inspected Zecotek's joint Optical Coherence Tomography, Thin Film Laser and PET/MRI projects. At the conclusion of the visits, Fujikura and Zecotek reached an agreement-in-principle to form a partnership for the manufacture and sales of Zecotek products, including Zecotek's proprietary fiber lasers.
"We are highly impressed with both Zecotek's technological depth and the market potential of their product portfolio," said a representative of Fujikura Ltd. "We look forward to working with Zecotek on not only their fiber lasers, but on many of their other products and technologies which complement and extend our current business lines."