FiberChem and Bosch Sign Agreement
LAS VEGAS--(BUSINESS WIRE)--Feb. 2, 1999--FiberChem Inc. (FCI) (OTC BB:FOCS), announced that it has signed a Letter of Intent with Bosch Telecom GmbH of Germany.
The agreement provides for Bosch to license from FCI certain proprietary technology which has applications of immediate consumer and commercial interest to Bosch. Geoff Hewitt, chairman and chief executive officer, said "While specific details of the agreement cannot be disclosed, it can be said that the application lies outside of the regulated marketplaces which FCI has pursued in the past, and represents a significant step in the company's strategic plan to expand outside of those regulated areas. This first step with Bosch may well be the beginning of a much broader relationship that could expand into other areas of mutual interest. More details of the agreement will be released as appropriate."
This news release includes forward-looking statements that involve risks and uncertainties, including the timely development and acceptance of new products, final promulgation and enforcement of regulations, the impact of competitive products and pricing, the timely funding of customer's projects, customer payments to the company and the other risks detailed from time to time in the company's SEC reports.
FiberChem Inc. develops, manufactures, markets and licenses fiber optic chemical sensors (FOCS) that produce continuous, real-time information on environmental pollutants in the air, water and soil.
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