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Victor Industries, Inc. Merger Moving Forward At Accelerated Pace
By PrimeZone Last Update: 12/6/2005 11:00:32 AM Data provided by
LOS ANGELES, Dec 6, 2005 (PRIMEZONE via COMTEX) -- Victor Industries (VICI) is pleased to announce merger negotiations with broadband solution provider Zhejiang Fibersense Communications Technology Co. Ltd. (FSP China) are moving forward at an accelerated pace. FSP has this week engaged a New York law firm to negotiate the final terms of the proposed merger.
Zhejiang Fibersense Communications Technology Co. Ltd. (FSP) www.fsp.com.cn has signed exclusive multi-year contracts with the government of China and major telecommunication companies to supply VoIP (Voice over Internet Protocol) and Wireless Broadband (802.16 WiMax) voice-and-data fixed-and-wireless telecommunication services. 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.
Further, FSP has used its considerable contacts in China to secure a potential distributor for Victor's products on mainland China and South East Asia. To that end, Victor Industries has entered into negotiations with Hong Kong-based New Point International (NPI).
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.
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