VANCOUVER, March 15, 2018 /CNW/ - Zecotek Photonics
Inc. ("Zecotek" or the "Company") (TSX-V: ZMS,
Frankfurt: W1I, OTCPK:
ZMSPF), a developer of leading-edge photonics technologies
for healthcare, industrial and scientific markets,
is pleased to announce that it has signed a marketing and
distribution agreement with the Shanghai Fortune Techgroup Co.
Ltd., a China-based authorized
distributor of integrated circuits and related optoelectronic
products, to generate sales of its patented LFS crystals to
customers in China.
"The Shanghai Fortune Techgroup is a well-established
distributor of photonic technologies with customers in China and around the world, and we are very
pleased that they will now include our patented LFS scintillation
crystals on their product list," said Dr. A.F. Zerrouk,
Chairman, President, and CEO of Zecotek Photonics Inc.
"The partnership with the Fortune Techgroup was prompted by the
recent equity investment into Zecotek Imaging China by a local
investor, and it complements the existing relationship we have with
the Shanghai EBO Optoelectronics Company. Zecotek will be able to
leverage their broad networks and experienced sales teams both in
and out of China. Furthermore, due
to the size and the financial strength of the Fortune Techgroup,
Zecotek will also be able to take advantage of more favorable
payment terms which will improve cash flow and minimize customer
payment risks. With better payment terms offered through
distributers, crystal production and handling will be more finely
tuned with improved efficiencies. We look forward to initiating
production at our new facility and working closely with the Fortune
Techgroup to sell our crystals."
Shanghai Fortune Techgroup Co. Ltd. is publicly traded on the
Shenzhen Stock Exchange (300493.SZ) with a market cap of
approximately $700 million and annual
sales of $300 million (2016) from the
distribution of a wide range of technical products and support
services including integrated circuit application solutions to
global customers. There is a natural synergy with Zecotek's LFS
crystals and the other optoelectronic products currently
distributed by Fortune Techgroup. Fortune group will aggressively
market the LFS crystals through its broad sales networks in
China and around the globe.
About the Shanghai Fortune Techgroup
Shanghai Fortune Techgroup Co., Ltd., founded in 2000, is the
leading provider of semiconductor chips and solutions for
telecommunication industry in China. Headquartered in Caohejing Hi-Tech
Park, Xuhui District of Shanghai,
it has research and development institutions and
branches/subsidiaries in Beijing,
Shenzhen, Hong Kong and Taiwan.
About Zecotek
Zecotek Photonics Inc (TSX-V: ZMS; Frankfurt: W1I, OTCPK: ZMSPF) is a photonics
technology company developing high-performance scintillation
crystals, photo detectors, positron emission tomography scanning
technologies, 3D auto-stereoscopic displays, 3D metal printing, and
lasers for applications in medical, high-tech and industrial
sectors. Founded in 2004, Zecotek operates three divisions:
Imaging Systems, Optronics Systems and 3D Display Systems with labs
located in Canada, Korea,
Russia, Singapore and U.S.A. The management team is focused on
building shareholder value by commercializing over 50 patented and
patent pending novel photonic technologies directly and through
strategic alliances with Hamamatsu Photonics (Japan), the European Organization for Nuclear
Research (Switzerland), Shanghai
EBO Optoelectronics Technology Co. (China), Beijing Optoelectronics Technology Co.
Ltd. (China), NuCare Medical
Systems (South Korea), the
University of Washington (United States), and National NanoFab Center
(South Korea). For more
information visit http://www.zecotek.com and follow @zecotek on
Twitter.
This press release may contain forward-looking statements
that are based on management's expectations,
estimates, projections and assumptions. These statements are not
guarantees of future performance and involve certain risks and
uncertainties, which are difficult to predict. Therefore, actual
future results and trends may differ materially from what may have
been stated.
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SOURCE Zecotek Photonics Inc