Ignis expands supply agreement with China-based Solorein Technology
DECEMBER 22, 2008 -- Fira Photonics Co., Ltd., a subsidiary of Ignis ASA (search for Ignis), has signed an exclusive supply agreement for splitter products with Solorein Technology Inc., a Chinese manufacturer of optoelectronic integrated circuits. The value of the orders, expected for 2009, is estimated to be between $1- to $2 million.
Solorein Technology Inc. is a Chinese-based technology company that provides advanced fiber optical products in the international FTTH market. Solorein's preliminary market is the fast growing Chinese FTTH market.
"Following the agreement previously signed with Ignis Photonyx, we have chosen Fi-ra Photonics as our exclusive provider of the remaining splitter product categories, which Ignis Photonyx do[es] not provide," explains Dr. Charles I, CEO and president of Solorein Technology Inc. "We recognize Fira to be a highly qualified supplier of splitter products, providing some of the best yields and performances available in the international market for fiber optical components. With this agreement, we have full coverage of all the splitter chip categories. We are very enthusiastic about this agreement, and look forward to start placing orders," he adds.
The Exclusive Supplier Status makes Fi-ra Photonics and Ignis Photonyx the sole suppliers for delivery of splitter products to Solorein Technologies. Solorein has a range of customers; as a result, Ignis says it is now well positioned to be a dominant player in the Chinese market for fiber optical components. The agreement is for one year with an automatic extension for additional consecutive periods of one year.
"This agreement will further tighten our relationship to Solorein and strengthen our position in the Chinese market," contends Matt Lee, CEO of Fira Photonics. "Solorein's sales capabilities will help accelerating our expansion in the Asian region."
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