C2SAT SIGNS PRODUCTION AGREEMENT WITH FONG´S IN SINGAPORE
Stockholm, Sweden, 29 September 2009 – C2SAT (NGM-stock exchange). C2SAT and Fong´s Advance Technology Pte Ltd, a leading high precision engineering company in Singapore, have signed a production agreement regarding the establishment of local production of C2SAT antennas in Singapore. This agreement formalises the MOU entered on the 18th of August 2009 and confirms the C2SAT defined strategy.
With local production in Singapore, C2SAT will strengthen its competitiveness most significant, partly through reduced manufacturing costs, partly through the expanded production capacity. Production in Singapore is forecast to be in place by latest first quarter 2010.
About Fong’s Advance Technology Pte Ltd
Fong’s Advance Technology Pte Ltd is a sister company of Fong’s Engineering & Manufacturing Pte Ltd under the same holding of FSP Holding Pte Ltd. Fong´s, incorporated in 1982, is one of the leading high precision engineering companies in Singapore with production facilities in Singapore and Nantong, China. The company offers state-of-the-art manufacturing technologies to global customers. With over 70 CNC high tech precision machines and a new 10,000 square feet assembly business unit, 270 employees are manufacturing and assembling High-End Mechanical, Electro-Mechanical and Opto-Mechanical components, modules or systems for the Bio-Medical, Aerospace, Electronics and Optics Industries. (www.fongspl.com.sg)
C2SAT headquartered in Solna, Sweden, with a subsidiary in Singapore, and a BSO in Shanghai, China, is a Swedish company which develops, manufactures and supplies innovative stabilised VSAT antenna systems enabling vessels in motion on-line two-way satellite broadband communication. The system is protected by a series of global patents. C2SAT holding AB is listed on the NGM Stock Market Exchange with the ticker C2ST and with Mangold as market maker. C2SAT is a registered trademark. (www.C2SAT.com)
For additional information, please contact:
Fredrik Nygren, CEO, C2SAT
Tel: +46 8 748 01 40
Dalvägen 16, SE-169 56 Solna, Sweden