This was released today
Monday July 20, 10:13 am Eastern Time
Company Press Release
Cetek Technologies Inc. Order Backlog Approaches $2 Million
POUGHKEEPSIE, N.Y.--(BUSINESS WIRE)--July 20, 1998--Cetek Technologies Inc. (Nasdaq/OTCBB:CTKT), manufacturer of advanced structural and electronic ceramics, Monday announced that demand for its products has increased to a level that order backlog is now $1,865,500.
In order to process this order backlog, Cetek is expanding its capacity by adding new equipment. Cetek also will be aided with increased capacity when one of more planned acquisitions are realized.
According to Cetek Technologies founder, Chairman and President Fayiz Hilal, Cetek's acquisition program is on target for 1998. Hilal stated: ''We are selectively targeting companies to acquire that have strong fundamentals and that serve to complement Cetek's overall business model.
''Further, we are proceeding with such acquisitions only when they can be done at excellent values, and for the benefit of our shareholders. We intend to aggressively pursue several such opportunities.''
Cetek produces and markets industrial ceramics for structural and electronic applications, including aerospace, bioceramics, insulators, integrated-circuit packages, capacitors and superconductors. Cetek is aggressively exploring expansion options, and has several near-term acquisition targets identified that would achieve Nasdaq Small Cap listing.
This goal, according Hilal, is very achievable due to the company's advanced technology that utilizes a proprietary process and unique, pre-emptive manufacturing techniques. The Department of Commerce, in 1996, recognized this exclusive process, which eliminates much of the costly machining of components, when Cetek was awarded a contract to develop video ''smart-display'' technology.
The company also specializes in back planes for flat-panel- display (FPD) monitors. The trade journal Industrial Physicist recently said that FPDs could be the next semiconductor industry.
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
-------------------------------------------------------------------------------- |
