正文
SANTA BARBARA, Calif., Sept. 24, 2007 (PRIME NEWSWIRE) -- Superconductor Technologies Inc. (STI) (Nasdaq:SCON), a leading provider of high performance infrastructure products for wireless voice and data applications, announced it has signed a term sheet to form a joint venture with Hunchun BaoLi Communication Co. Ltd. (BAOLI) by the end of 2007. The planned joint venture would focus on manufacturing and marketing STI\'s SuperLink(r) interference elimination solution in the Chinese market, with STI providing an exclusive license of the enabling technology and BAOLI the manufacturing expertise and financing.
The proposed joint venture is expected to be registered in Jilin Province, with its research and development branch in Shanghai and its marketing division in Shenzhen. It would begin by working with China\'s Ministry of Information Industry and related organizations to conduct evaluations of the SuperLink(r) technology for use by telecom operators such as China Telecom, China Mobile, Netcom, Unicom Railcom and Satcom.
According to the term sheet, BAOLI would receive 55 percent of the equity in the joint venture and STI would hold 45 percent and receive a royalty on sales. The parties intend to work together to draft and sign a binding definitive agreement by the end of 2007.
With SuperLink\'s proven field performance and the expected cost reductions from manufacturing in China, we believe this strategic relationship can deliver solutions needed by China\'s new 3G network, stated QiangHua Shao, General Manager of BAOLI. The telecom market in China has a complicated spectrum plan, with no guard band between some of the neighboring channels. By reducing interference and increasing base station sensitivity, the sharp filtering of STI\'s SuperLink solution can offer significant advantages.
With the deployment of its 3G wireless network China, China will require solutions to optimize overall network performance, said Jeff Quiram, STI\'s president and CEO. Our SuperLink technology can enable significantly higher network capacity, especially for emerging data applications. With a strategic relationship with BAOLI, we believe we can significantly improve China\'s 3G network with products that provide unparalleled interference protection.
About Hunchun BaoLi Communication Co. Ltd. (BAOLI)
Hunchun BaoLi Communication Co. Ltd. (BAOLI) is a wholly owned subsidiary of the BaoLi Group. BAOLI has finished its first stage investment of US$26.4 million (out of a total expected investment of approximately US$130 million to establish a 10 million square foot manufacturing complex in the Commercial Cooperation Zone, Hunchun City. BAOLI manufactures push-to-talk (PTT) handsets and the associated battery technology for the China market. Two other BaoLi Group subsidiaries are focused on wireless solutions as well: VASPOLY Technology develops and markets PTT applications that can be customized to meet specific end-user requirements. Linkwave Communications provides innovative in-building wireless aggregation and distribution systems. Linkwave has been selected to provide the wireless communications systems for Olympic Stadium at the 2008 Olympics in Beijing. Linkwave also provides the wireless coverage solution for the Formula 1 race track in Shanghai China. The BaoLi Group operates a wide range of business entities including real estate development, financial services, and wireless communications in both the network infrastructure and handset areas. The BaoLi Group has facilities in the Hong Kong, Shenzhen, and Jilin province.
About Superconductor Technologies Inc. (STI)
STI, headquartered in Santa Barbara, CA, is a leading provider of high performance infrastructure products for wireless voice and data applications. STI\'s SuperLink(r) solution increases capacity utilization, lowers dropped and blocked calls, extends coverage, and enables faster wireless data rates. Its AmpLink(tm) solution enhances the performance of wireless base stations by improving receiver sensitivity and geographic coverage.
For information about STI, please visit http://www.suptech.com.
The Superconductor Technologies Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3963
Safe Harbor Statement
The press release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, STI\'s views on future fundraising plans, profitability, revenues, market growth, capital requirements and new product introductions and any other statements identified by phrases such as thinks, anticipates, believes, estimates, expects, intends, plans, goals or similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. For example, the financial results reported in this press release are based on certain assumptions and estimates made by management and are subject to adjustment prior to the filing of the Company\'s Annual Report on Form 10-K for 2007. Other factors and uncertainties include: fluctuations in product demand from quarter to quarter which can be significant; the need for additional capital depending on unpredictable cash flow; STI\'s ability to diversify its concentrated customer base; the impact of competitive filter products technologies and pricing; unanticipated decreases in the capital spending of wireless network operators; and manufacturing capacity constraints and difficulties. Forward-looking statements can be affected by many other factors, including, those described in the Business and the MD&A sections of its Annual Report on Form 10-K for 2006. These documents are available online at STI\'s website, www.suptech.com, or through the SEC\'s website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
The proposed joint venture is expected to be registered in Jilin Province, with its research and development branch in Shanghai and its marketing division in Shenzhen. It would begin by working with China\'s Ministry of Information Industry and related organizations to conduct evaluations of the SuperLink(r) technology for use by telecom operators such as China Telecom, China Mobile, Netcom, Unicom Railcom and Satcom.
According to the term sheet, BAOLI would receive 55 percent of the equity in the joint venture and STI would hold 45 percent and receive a royalty on sales. The parties intend to work together to draft and sign a binding definitive agreement by the end of 2007.
With SuperLink\'s proven field performance and the expected cost reductions from manufacturing in China, we believe this strategic relationship can deliver solutions needed by China\'s new 3G network, stated QiangHua Shao, General Manager of BAOLI. The telecom market in China has a complicated spectrum plan, with no guard band between some of the neighboring channels. By reducing interference and increasing base station sensitivity, the sharp filtering of STI\'s SuperLink solution can offer significant advantages.
With the deployment of its 3G wireless network China, China will require solutions to optimize overall network performance, said Jeff Quiram, STI\'s president and CEO. Our SuperLink technology can enable significantly higher network capacity, especially for emerging data applications. With a strategic relationship with BAOLI, we believe we can significantly improve China\'s 3G network with products that provide unparalleled interference protection.
About Hunchun BaoLi Communication Co. Ltd. (BAOLI)
Hunchun BaoLi Communication Co. Ltd. (BAOLI) is a wholly owned subsidiary of the BaoLi Group. BAOLI has finished its first stage investment of US$26.4 million (out of a total expected investment of approximately US$130 million to establish a 10 million square foot manufacturing complex in the Commercial Cooperation Zone, Hunchun City. BAOLI manufactures push-to-talk (PTT) handsets and the associated battery technology for the China market. Two other BaoLi Group subsidiaries are focused on wireless solutions as well: VASPOLY Technology develops and markets PTT applications that can be customized to meet specific end-user requirements. Linkwave Communications provides innovative in-building wireless aggregation and distribution systems. Linkwave has been selected to provide the wireless communications systems for Olympic Stadium at the 2008 Olympics in Beijing. Linkwave also provides the wireless coverage solution for the Formula 1 race track in Shanghai China. The BaoLi Group operates a wide range of business entities including real estate development, financial services, and wireless communications in both the network infrastructure and handset areas. The BaoLi Group has facilities in the Hong Kong, Shenzhen, and Jilin province.
About Superconductor Technologies Inc. (STI)
STI, headquartered in Santa Barbara, CA, is a leading provider of high performance infrastructure products for wireless voice and data applications. STI\'s SuperLink(r) solution increases capacity utilization, lowers dropped and blocked calls, extends coverage, and enables faster wireless data rates. Its AmpLink(tm) solution enhances the performance of wireless base stations by improving receiver sensitivity and geographic coverage.
For information about STI, please visit http://www.suptech.com.
The Superconductor Technologies Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3963
Safe Harbor Statement
The press release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, STI\'s views on future fundraising plans, profitability, revenues, market growth, capital requirements and new product introductions and any other statements identified by phrases such as thinks, anticipates, believes, estimates, expects, intends, plans, goals or similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. For example, the financial results reported in this press release are based on certain assumptions and estimates made by management and are subject to adjustment prior to the filing of the Company\'s Annual Report on Form 10-K for 2007. Other factors and uncertainties include: fluctuations in product demand from quarter to quarter which can be significant; the need for additional capital depending on unpredictable cash flow; STI\'s ability to diversify its concentrated customer base; the impact of competitive filter products technologies and pricing; unanticipated decreases in the capital spending of wireless network operators; and manufacturing capacity constraints and difficulties. Forward-looking statements can be affected by many other factors, including, those described in the Business and the MD&A sections of its Annual Report on Form 10-K for 2006. These documents are available online at STI\'s website, www.suptech.com, or through the SEC\'s website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
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2007-10-23 22:59:22
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