VANCOUVER, British Columbia, Feb. 25, 2008 (PRIME NEWSWIRE) -- 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.
About Fujikura
Fujikura Ltd. 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.
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About Zecotek
Zecotek Photonics Inc. (TSX-V:ZMS) (Frankfurt:W1I) is a photonics technology company developing leading-edge products: crystals, photo detectors, lasers, imaging and 3D display technologies, for medical, biotech, industrial, nanotech and atomic/molecular science applications. Founded in 2003, the company has three distinct operating divisions: imaging, lasers and 3D display and labs located in Canada, the United States, Singapore, Malaysia and Russia. Zecotek commercializes its novel, patented and patent-pending photonic technologies directly and through strategic alliances and joint ventures with multinational OEMs, distributors and other industry leaders. For more information, please visit www.zecotek.com.
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