IRVINE, CA--(Marketwired - Feb 9, 2017) - CAPSTONE TECHNOLOGIES GROUP, INC. (OTC PINK: CBLY), through its subsidiary, PPB Engineering and Systems Design, Inc., has signed a $7.8 Million equipment contract with Fasten Group, a subsidiary of Jiangsu Fasten Co. LTD (000890.SZ), who is in a joint venture with Seaspire Advisors, LLC for this transaction. Negotiations with this leading, fiber optic cable company have been ensuing for several months now, culminating in a fully approved and executed contract.
The machines being built for Fasten Group will give the company the ability to produce fiber optic preforms, which will be further processed into fiber optic cable to fulfill the ever increasing growth and demand in the Asian market.
Capstone CEO, Clinton Stokes, III, is quoted as saying, "This opportunity with one of the largest fiber optic cable providers in the world, creates a tremendous launching pad for Capstone and its subsidiary companies. The Fasten Group contract represents an excellent, long-term arrangement for Capstone to establish itself as a leader in this market sector."
And Capstone CTO, Wesley Poff, added, "We are very happy to bring this state-of-the-art technology to the Asian market and look forward to a prosperous and mutually beneficial long-term relationship with Fasten Group, a market giant."
Fasten Group's initial deposit of $2.3 Million has been approved for disbursement to PPB immediately. This Agreement represents the first of many significant revenue contracts for Capstone Technologies Group and its family of technology companies. The market for fiber optic cable worldwide is experiencing a steady increase in demand, therefore Capstone anticipates exponential growth for its group of companies as it ramps up to satisfy the global need for fiber optic cable.
ABOUT CAPSTONE TECHNOLOGIES GROUP
Capstone Technologies Group is perfectly affixed as the Top Structure of a growing list of visionary technology companies, destined to change the world in which we live by taking up the challenge of making the USA the manufacturing giant it once enjoyed. We believe in the strength and ingenuity of the American manufacturing market and the people that are dedicated to bring the best of new technologies to the marketplace, right here in the place where the manufacturing industry was born. We will take the existing foundation and history of American greatness and integrate that with advances in technology, to bring to worldwide consumers those leading edge products they demand.
Capstone is focused on forward looking entities that have distinguished themselves as leaders in their fields and are looking for investment and leadership to move their vision to fruition. We can bring forth the financial, logistical and outside the box thinking to develop a succinct and streamlined path to market.
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