Ignis signs new splitter agreement in China
Oslo, Ignis ASA, an international provider of optical components, announced today that they have signed a new major supply agreement for splitter chips to a leading Chinese manufacturer of optical modules. The agreement is signed for a period of three years with an estimated value in 2010 of minimum USD 2.0 million.
The first purchase order of approximately USD 1.3 million for delivery H1 2010 has been placed upon signing of the agreement.
Ignis continues to experience substantial demand for splitter products in Asia and keeps growing their business in the Asian markets. Many Asian telecom operators are ramping up their expansion of high speed broadband networks, and splitter products play an important role in these networks.
- Asian telecom operators are investing aggressively in fiber networks and the demand for Ignis products is noticeably increasing. However, the market activities are not limited to Asia as increasingly more inquiries and purchase orders are coming from EU and USA, says Matt Lee, COO in Ignis ASA.
Ignis is developing a strong customer base around the world and China represents a strategically important market to the company. This announcement marks the third new agreement entered into this year in China demonstrating Ignisí ability to compete effectively in this market.
Ignis ASA is comprised of three subsidiaries including 69.3% ownership in Ignis Fira in Korea, the wholly owned Ignis Photonyx in Denmark and Ignis Syntune in Sweden. Ignis is a leading international provider of optical splitters, multiplexers, and state-of-the-art widely tunable lasers for applications ranging from fiber-optic communications to sensor systems. Headquartered in Oslo Norway, Ignis ASA is listed on the Oslo Stock Exchange (OSE: IGNIS).
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