TSX Venture Exchange symbol: FOX
TORONTO, Aug. 22 /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 signing of a System
Integrator agreement with Atlanta-based Micron Optics, the world leader in
Fiber Bragg Grating sensor technologies. FOX-TEK is now the only approved
System Integrator for Micron Optics products in Canada.
Micron Optics is broadly recognized for the development of high quality
sensing and telecom products based upon their own Fiber Bragg Grating
technologies. "Micron Optics is definitely the leader in this particular area
of fiber sensing and we are very pleased to be able to offer monitoring
solutions for our customers based upon their products," said Dr. Don Morison,
FOX-TEK's Vice President of Operations and Engineering. Dr Morison continued,
"We will now be able to monitor areas of concern with up to several hundred
point sensors and we can address a wider range of corrosion and deformation
issues in the oil and gas sector. As FOX-TEK grows, we can apply this
technology in the civil infrastructure sector to the health monitoring of
bridges, dams, tunnels and for third party intrusion detection.
"Previously, we've successfully used Micron Optics systems in some of our
R&D projects," said Dr. Essam Zaghloul, FOX-TEK president and CEO. "Now that
we're a System Integrator, we can broaden our suite of solutions to help our
clients in the petrochemical, oil and gas, and other areas realize cost
savings in their integrity management programs."
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, and
Al-Khobar, Saudi Arabia. FOX-TEK is traded on the TSX Venture Exchange under
the symbol "FOX". For more information, visit www.fox-tek.com.
About Micron Optics:
Micron Optics, Inc. supplies a comprehensive portfolio of optical
instruments and components to Sensing, Biotech and Telecom markets. These
products are based on Micron Optics' technologies providing best-in-class
optical performance, reliability and value for over 15 years. The Sensing
product line addresses energy, aerospace, civil, transportation and defense
industries which are monitoring hundreds of applications throughout six
continents. Micron Optics is a private company based in Atlanta, Georgia, USA.
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; Renmark Financial Communications Inc.: Barry Mire,
firstname.lastname@example.org; Christine Stewart, email@example.com;
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com