September 17, 2004 Hayward, CA -- Valdor Fiber Optics Inc. has entered into an equity agreement with the shareholders of Shanghai OPEL Technologies Inc. (Opeltech), whereby Valdor will have the right to acquire up to 100% of the shares of Opeltech. Opeltech is controlled by China International Intellectech Corp. and China WorldBest Group Corp., one of China's largest industrial conglomerates.
Under the terms of the agreement, Valdor will issue 5,000,000 common shares of its capital stock to the equity owners of Opeltech in exchange for a 60% equity interest in Opeltech. Valdor has the right to acquire the remaining 40% interest of Opeltech in the future.
As part of the terms of the agreement, Opeltech will be renamed Valdor Shanghai Inc. and will handle all sales and marketing in the Asia Pacific fiber-optic market. The Opeltech acquisition adds additional optical and printed circuit board assembly to Valdor's fiber-optic manufacturing capabilities.
The agreement is subject to certain conditions including, but not limited to, the approval of the boards of directors of both companies, the receipt by Opeltech of a business license from the Chinese regulatory authorities, and the approval from the TSX Venture Exchange.
Opeltech, located in Shanghai, designs, manufactures, and provides fiber-optic products and services with a wide range of Telcordia-compliant products, including CWDMs, DWDMs, OADMs, FBTs, couplers/splitters, isolators, attenuators, fiber-optic patch cords, and fiber-optic subcomponents. Opeltech is an ISO9001:2000 certified company.
Valdor, established in 1985, specializes in the design and manufacture of fiber-optic connectors, ferrules, splices, DWDMs, and other optical and optoelectronic components using its propriety and patented Impact Mount and Heptoport technologies.