LAKE MARY, Fla., Sept. 30, 2015 (GLOBE NEWSWIRE) -- Fonon Corporation (“Fonon”) (OTC:FNON) is pleased to update its shareholders on the continued rollout of the company’s ‘2015 Reorganization Plan’. The company is targeting three major growth markets that support its Value Chain, Multi-Market business model.
- 3D Additive Manufacturing (AM) Metal Printing Systems Market
The 3D printing market is expected to reach $8.43 billion by 2020, at a CAGR of 14.37% (Markets and Markets).
- Flat Panel Display and Derivatives Market
Flat Panel Display market expected to reach $135B by 2020 (Future Market Insights).
- Laser-based Materials Processing Market
Global laser processing market to reach $17.26B by 2020 with CAGR of 10.2% (Transparency Market Research)
Highlights of Company’s 2015 Reorganization Plan to Date:
- The company has transitions from an early-stage development company to a sustaining growth stage company with the recent acquisition of FTL. Revenue will be reported for the first time in the company’s pending 3rd Quarter 10-Q.
- The company has secured a 55K square foot manufacturing facility with a 1.2MW on-site clean energy power generating facility with first rights to expand up to 274K square feet.
- The company has secured turnkey manufacturing production lines and seasoned personnel that support all system products.
- The company has secured the rights to over 150 standards and specialized industrial-grade systems already supporting both the Flat Panel Display and Laser-Based Materials Processing Markets with pending announcements regarding 3D AM metal printing systems.
- The company’s Value-Chain model use interchangeable parts/subassemblies and building block technologies supporting all three major growth markets.
- The company’s Multi-Market strategy supports aerospace, medical, defense, space, automotive, industrial, semiconductor and energy markets. The same market sectors the company’s predecessor has supported for over 25 years.
- An established customer base of Fortune 500 companies that are key players in all three growth markets.
Louis Schlegel, Fonon’s Vice-President stated, “We continue to evaluate potential acquisitions, global expansion of our sales/distribution channels, and expanding our executive management team to accelerate our penetration rate in our stated major growth markets. We are preparing for capital growth financing through vehicles including an IPO targeting an uplift to a higher exchanges in 2016 to position the company for future dividends to ensure long-term, shareholder value.”
About Fonon Corporation
Fonon Corporation is the recognized leader of industrial-grade 3D Additive and Subtractive laser-based material processing systems. Our systems are used world-wide in the semiconductor, flat panel display, automotive, aerospace, industrial, defense, electronic and medical industries with a portfolio of intellectual property, knowhow & inventions placing our company in the unique position to offer both standard 3D material processing systems or our specialty of tooling 3D laser-based transforming systems designed around the unique applications of our customers.
To learn more about Fonon Corporation, visit: http://fonon.us
Read the Notice Regarding Forward-Looking Statements here.