SOURCE: Capstone Technologies Group, Inc.

Capstone Technologies Group, Inc.

December 14, 2016 09:29 ET

American Fiber Optics Group, Inc., a Wholly Owned Subsidiary of Capstone Technologies Group Inc. (CBLY-OTC) Announces Signing of Contract to Purchase State-of-the-Art Fiber Optic Preform Manufacturing Equipment from PPB Engineering and Systems Design Inc.

PALMETTO, FL--(Marketwired - Dec 14, 2016) - American Fiber Optics Group, Inc., a wholly owned subsidiary of Capstone Technologies Group Inc. (OTC PINK: CBLY) announces today that it has executed an equipment contract with PPB Engineering and Systems Designs, Inc., who has more than 20 years' experience in working for and with the best fiber manufacturers in the world, to supply their highly respected and state-of-the-art Optical Fiber Preform equipment that will be the foundation for AFO's new Fiber Optical Cable venture in the Detroit, Michigan area beginning in 2017.

With the closing of the equipment contract with PPB, AFO has secured one of the biggest pieces of the venture and can now move forward with plant design and begin build-out to accommodate the PPB Preform machines. These Preform manufacturing machines will arrive in a series of multiple process lines that will initially increase the preform production capacity to 20 million kilometers of fiber in Phase 1.

AFO COO, Ken Mayeaux, said, "With the expected growth rate and demand for Fiber Optic Cable, AFO expects to be contracting for a Phase 2 expansion in time to increase its capacity to satisfy the market demand. We are excited about the future of Fiber Optics Cable in the Detroit, Michigan area, because with plant expansion and more fiber demand, that means more job creation for American workers."

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