LAS VEGAS, NV, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Ameritek Ventures (OTC: ATVK) (“the Company”), today announced the completion of preliminary concept design work that will enable the application of its optical fiber technology expertise in a manufacturing facility for optical fiber preforms, to be constructed in Virginia.
Ameritek plans to advance to the specific design of each of the individual components of the preform production process. Machine and facility design is scheduled to begin during the month of March. Equipment fabrication and assembly is scheduled to begin during the third quarter of 2018.
“We are making great strides optimizing our technology and believe that Ameritek Ventures remains uniquely positioned to provide the global optical fiber market with a much-needed supply source for optical fiber preforms,” stated Clinton Stokes III, Ameritek’s Chief Executive Officer. “The industry has seen unprecedented growth driven by the expansion of cell phone networks, long-distance telephone networks, high speed internet and fttx implementation around the globe. We look forward to continuing our progress towards building a fully-enabled optical fiber preform manufacturing facility throughout 2018 and beyond.”
Ken Mayeaux, Ameritek’s VP of Operations, added, “The initial production capacity of optical fiber preforms is planned to be 5 million km/year, with expansion to 20 million km/year anticipated over the next three years. Our confidence in Ameritek’s growth potential is supported by robust market demand for optical fiber, whose market continues to experience double digit growth rates. We believe that Ameritek Ventures is poised to emerge as an integral part of this high growth, global market.”
Earlier this month, Ameritek announced plans to complete the construction of machines that will enable the production of specialty optical fiber preforms (PCVD) at its Roanoke manufacturing facility. Assembly is expected to be completed in the third quarter of 2018.
About Ameritek Ventures
Ameritek Ventures is a manufacturer of proprietary machinery that is used to produce optical fiber preforms. These preforms are then used to produce commercial grade optical fiber. Once produced, this optical fiber is fabricated into fiber optic cable which serves as the backbone of the multi-billion dollar telecommunication industry.
The market demand for preforms and optical fiber has experienced rapid growth in the wireless, cable television, internet and high-speed data transmission industries. The Company's equipment, processes and managed system deployments will provide the market with the highest quality preforms used to manufacture fiber optic cable and will support significant growth worldwide.
Forward-Looking Statements
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements.