SANTA BARBARA, Calif., Oct. 30, 2007 (PRIME NEWSWIRE) -- Superconductor Technologies Inc. (STI) (Nasdaq:SCON), a leading provider of high performance infrastructure products for wireless voice and data applications, announced it has entered into a sales agreement to provide STI's SuperLink(r) solution to China Corporate Credit Assurance Co. Ltd. (CCAC) for deployment in 2G and 3G networks in China.
As previously announced, STI and Hunchun BaoLi Communications Co. Ltd. are working together to form a joint venture focused on the manufacture and sale of STI's SuperLink interference elimination solution for the Chinese market. This agreement with CCAC establishes a mechanism for STI to supply its products to China while that process proceeds.
"We are excited about the opportunities for STI in the ongoing build out of the 2G networks and the upcoming rollout of 3G networks in China," said Jeff Quiram, STI's president and CEO. "CCAC's reputation and established relationships with Chinese wireless operators will enable us to meet the demand for our SuperLink solution in China in the near-term. We will be continuing discussions about technical evaluations and testing activities in China with the National Radio Administrative Bureau and Chinese wireless operators."
About Superconductor Technologies Inc. (STI)
STI, headquartered in Santa Barbara, CA, is a leading provider of high performance infrastructure products for wireless voice and data applications. STI's SuperLink(r) solution increases capacity utilization, lowers dropped and blocked calls, extends coverage, and enables faster wireless data rates. Its AmpLink(tm) solution enhances the performance of wireless base stations by improving receiver sensitivity and geographic coverage.
For information about STI, please visit http://www.suptech.com.
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About CCAC
China Corporate Credit Assurance Co. Ltd. (CCAC) is a professional commercial assurance organization that is a subsidiary of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), was registered by China Corporate Union, and authorized by State Administration for Industry & Commerce (SAIC). CCAC is supported by China Corporate Union and provides professional financing services for corporate entities. In addition to the foundation in corporate credit assurance, CCAC is also a leader in other services including capital operation services and financing platform development services.
Safe Harbor Statement
The press release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, STI's views on future fundraising plans, profitability, revenues, market growth, capital requirements and new product introductions and any other statements identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," "goals" or similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. For example, the financial results reported in this press release are based on certain assumptions and estimates made by management and are subject to adjustment prior to the filing of the Company's Annual Report on Form 10-K for 2007. Other factors and uncertainties include: fluctuations in product demand from quarter to quarter which can be significant; the need for additional capital depending on unpredictable cash flow; STI's ability to diversify its concentrated customer base; the impact of competitive filter products technologies and pricing; unanticipated decreases in the capital spending of wireless network operators; and manufacturing capacity constraints and difficulties. Forward-looking statements can be affected by many other factors, including, those described in the Business and the MD&A sections of its Annual Report on Form 10-K for 2006. These documents are available online at STI's website, www.suptech.com, or through the SEC's website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.