SOURCE: Capstone Technologies Group, Inc.

Capstone Technologies Group, Inc.

December 13, 2016 13:36 ET

American Fiber Optics Group, Inc., a Wholly Owned Subsidiary of Capstone Technologies Group, Inc. (CBLY-OTC) Announces Financing Commitment for a $34 Million Michigan Manufacturing Facility

PALMETTO, FL--(Marketwired - Dec 13, 2016) - American Fiber Optics Group, Inc. (a wholly owned subsidiary of Capstone Technologies Group Inc. (OTC PINK: CBLY) is proud and excited to announce that financing has been secured through its parent company, for site acquisition, build-out and to equip a state-of-the-art manufacturing facility in the Detroit, Michigan area. This new entity will address the shortage in the marketplace for Fiber Optics Cable, initially in the USA and eventually worldwide.

CEO Clinton L. Stokes III is quoted as saying, "This is a great day and the dawning of a New Year which is right in line with the new Administration's promise to create new American jobs. This new high technology facility in the Detroit, Michigan area, which has seen a mass exodus of manufacturing jobs from the country, will bring hundreds of construction and permanent, high paying manufacturing jobs back to the Motor City."

COO Ken Mayeaux stated, "The technology that will be used at the American Fiber Optics Group plant will be the best currently available process for producing fiber optics cable anywhere in the world. Our goal is to be the technology leader in this field and provide technical and skilled American jobs to support the high demand for our products as America rebuilds its infrastructure, and to show the world that 'Made in the USA' still means something."

This announcement comes at a perfect time, as America begins to turn the corner and once again become competitive with the rest of the world as a manufacturing leader. American Fiber Optics Group will continue to expand its footprint within the USA as demand for its product increases. Current growth of the multi-billion dollar Fiber Optics market is in excess of 11% per year, with that number expected to rise, as fiber optics cable makes its way into developing countries worldwide. Since announcing this project, potential clients have been lining up to secure American Fiber Optics Group's finished products.

For more information and details, please visit our website: www.afogrp.com

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Contact Information

  • Investor Contact:
    Capstone Technologies Group, Inc.
    (888) 676-4138