LOS ANGELES, Oct. 11, 2005 (PRIMEZONE) -- Victor Industries (OTCBB:VICI) has entered into merger negotiations with broadband solution provider Zhejiang Fibersense Communications Technology Co. Ltd. (FSP China). Executives have found significant mutual benefits to explore the potential merger of the two companies. To that end, negotiations expected to come to fruition early in the New Year have begun.
"FSP's potential share of the wireless/broadband market is staggering. They have access to a market arguably larger than all U.S. broadband solution providers combined. FSP's management is seasoned and ambitious, and have a clear vision of today and tomorrow's communication landscape. We are proud to play any part we can in their future," said Lana Pope, CEO Victor Industries Inc.
To learn more about Victor Industries click on www.VictorIndustries.com, or call our toll free number at: (800) 949-1230
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.
FSP's primary target consumers will be the government, telecommunication providers, public utilities, the oil and mining industries, and provincial forest services.
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.