Clean Systems awarded fiber plant build
July 23, 2004 Kiryat Gat, Israel and New York, NY -- Clean Systems Technology Group Ltd. has signed a $37.8 million contract for the design, installation, equipping, and personnel training of the process tools for a new fiber-optic plant in the Asia Pacific region. The contract is the company's first since entering the fiber production market.
July 23, 2004 Kiryat Gat, Israel and New York, NY -- Clean Systems Technology Group Ltd. (CSTI) has signed a $37.8 million contract for the design, installation, equipping, and personnel training of the process tools for a new fiber-optic plant in the Asia Pacific region. The contract is the company's first since entering the fiber production market.
CSTI decided to enter the multi-billion dollar market for fiber-optic production in 2002, and made significant investments in the engineering and design of its own process tools for this industry. This contract is CSTI's first complete "turnkey" plant, and follows years of providing the fiber-optic industry with gas and chemical systems.
CSTI's process tools, which include MCVD and OVD systems, and its proprietary processes offer many advantages over current products on the market and enable the production of significantly higher quality fiber-optic materials, the company asserts.
"CSTI was chosen for this major contract because of its long track record and proven expertise in delivering high-quality systems for the fiber-optic industry as well as for the quality of the new advanced process tools we have developed for fiber-optic production," said Mauro Pisati, R&D manager of Clean Systems Technology Fiber Srl, CSTI's wholly owned subsidiary. "We have set a strategic goal of growing our business in the fiber-optic market and we look forward to building on this first project to expand our customer base in this industry."
Under the terms of the agreement, rollout is intended to begin in Q4 2004, and the project is expected to be completed in 2006. Clean Systems Technology Fiber, located in Milan, Italy, will coordinate the design and implementation of the project.
"This contract represents a significant milestone for the company and firmly positions our process tools as the new benchmark for operating efficiency and cost-effectiveness in the market for fiber-optic cable production," added Jacob Lustgarten, president of CSTI. "This major contract also re-enforces our strategy to enter this very large and growing fiber-optic market. We expect this contract to significantly enhance CSTI's revenue and profitability over the next two years, and we look forward to more projects in this new and exciting Asia Pacific market."