LOS ANGELES, Dec. 8, 2005 (PRIMEZONE) -- Victor Industries (OTCBB:VICI) is in the process of finalizing merger negotiations with broadband solution provider Zhejiang Fibersense Communications Technology Co. Ltd. (FSP China), which are expected to come to fruition in the first quarter of 2006. FSP has used its considerable contacts to secure a distributor for Victor's products on mainland China and South East Asia. Victor is pleased to announce it has assigned distribution rights to Hong Kong based New Point International (NPI). Within days NPI has secured a $100,000.00 order for Victor's products from mainland Chinese clients. Victor is working diligently to fulfill that order in a timely fashion.
General Electric Corporation is currently marketing Silwet(r) in China. We believe our organic, less costly EnviroZee(tm) to be a vastly superior product and intend to aggressively compete for market share.
"This order, we hope the first of many, is larger than all the combined orders that Victor has fulfilled in the company's history. The logistics of getting an order of this size produced and delivered to mainland China is a challenge we are excited to take on. This potential sale is yet another tangible indication of the extraordinary synergy this merger can facilitate between Victor and FSP," said Lana Pope, CEO Victor Industries Inc.
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ABOUT Zhejiang Fibersense Communications Technology Co. Ltd.
Zhejiang Fibersense Communications Technology Co. Ltd. (FSP) (www.fsp.com.cn) is an Optical Network, VoIP (Voice over Internet Protocol) and Wireless Broadband (802.16 WiMax) voice-and-data fixed-and-wireless telecommunication solution provider and virtual operator with branches in Mainland China (PRC) and Hong Kong. FSP has set up sales and engineering office centers in Hangzhou, Beijing, Chungdu, Shenzhen and Hong Kong. The Company is committed to providing cost-effective integrated VoIP and WiMax system solutions conforming to Chinese and international standards.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.