TSX Venture Exchange symbol: FOX
TORONTO, Sept. 25 /CNW Telbec/ - Fiber Optic Systems Technology, Inc.
("FOX-TEK"), (TSX-V: FOX), a developer and manufacturer of patented
non-intrusive sensing systems, today announced the release of the new lower
cost 2400 series fiber optic sensor monitors. These new monitors, based upon
the successful 3400 series FT sensor monitors, include cost savings from
improving manufacturing efficiency, from competitive parts sourcing, and from
the company's internal development of a replacement for one of the highest
Bob Leigh, Manager of Engineering for FOX-TEK said, "We've managed to
reduce the cost of the monitoring system by reengineering some components, and
we're still maintaining the quality of the performance." Mr. Leigh continued,
"We've also made the 2405 into a "workhorse" version of the 3405 by
eliminating the front panel display. This makes the 2405 perfectly suited for
remote monitoring through wired or wireless networks."
Sam Cauchi, Director of Sales - Canada followed, "We're constantly
demonstrating the cost benefits of our systems to our customers. The
introduction of the 2405 FT sensor monitor means that there is an even greater
benefit when tracking internal corrosion and pipeline bending using our
Dr Essam Zaghloul, president and CEO of FOX-TEK said, "This new line
demonstrates that FOX-TEK's ongoing program to deliver quality products that
meet our customer's needs is really paying off. Integrity management is a
critical part of the oil and gas business, and we are focused on delivering
the best solutions possible."
Fiber Optic Systems Technology, Inc. "FOX-TEK" develops non-intrusive
asset health monitoring sensor systems for the oil and gas market to help
operators track the thinning of pipelines and refinery vessels due to
corrosion/erosion, strain due to bending/buckling, and process pressure and
temperature. FOX-TEK's FT fiber optic sensor and Pinpoint systems allow
cost-effective, 24/7 remote monitoring capabilities to improve scheduled
maintenance operations, avoid unnecessary shutdowns, and prevent accidents and
FOX-TEK has offices in Toronto, ON, Calgary, AB, Houston, TX, Mexico
City, Mexico, and Al-Khobar, Saudi Arabia. FOX-TEK is traded on the TSX
Venture Exchange under the symbol "FOX". For more information, visit
This press release contains forward-looking statements based on
assumptions, uncertainties and management's best estimates of future events.
Actual results may differ materially from those currently anticipated.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties. Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements
are detailed from time to time in FOX-TEK's periodic reports filed with the
Ontario Securities Commission and other regulatory authorities. FOX-TEK has no
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: FOX-TEK Company contact: Dr. Essam Zaghloul,
president and CEO, Fiber Optic Systems Technology, Inc., (416) 665-2288,
email@example.com; Investor Relations contact: Renmark Financial
Communications Inc.: Barry Mire: firstname.lastname@example.org; Christine
Stewart: email@example.com, (514) 939-3989, Fax: (514) 939-3717,