In order to finalize the structural and operational details, both parties have agreed to extend the current letter of intent to January 31, 2008. Under the proposed agreement Fujikura will contribute technical support and manufacturing know-how for certain products to be manufactured and distributed by Fujikura under the partnership.
AF Zerrouk, chairman, president, and CEO of Zecotek, said: “We are very pleased that following a thorough inspection of our facilities and our technologies, Fujikura officials came to a rapid decision to proceed with our proposed partnership. We see this as a very strong endorsement of both our technological leadership and our product development roadmap.”