SOURCE: Capstone Technologies Group, Inc.

Capstone Technologies Group, Inc.

April 04, 2017 09:30 ET

Capstone Technologies Group Subsidiary Begins Phase 1 Development of Its 20 Million km Optical Fiber Production Facility

IRVINE, CA--(Marketwired - Apr 4, 2017) - CAPSTONE TECHNOLOGIES GROUP, INC. (OTC PINK: CBLY), through its subsidiary, American Fiber Optics Group, Inc. (AFO), has announced that it has everything in place for Phase 1 of the new Capstone Technologies Group 20 million km optical fiber production facility being created for AFO that will be located in Roanoke, VA. The new site location has been secured which houses the existing facility where the new plant will be built. The company is adding to its support and engineering staff to accommodate this growth and has fabrication of production equipment slated to begin in the Summer of 2017.

The production equipment for Phase 1 is scheduled for completion and installation in the 2nd Quarter of 2018, with subsequent production to follow shortly in the Summer of 2018. This first phase of the operations of AFO is expected to yield an annual revenue of $20 Million. Subsequent to this first phase, AFO will continue to increase its production capability and is currently targeting annual revenues of $80 million from this production facility.

Capstone CEO, Clinton Stokes, III, is quoted as saying, "Now that everything is in place for AFO's new production facility, we will be fast tracking this project so that we can begin production ASAP which will validate our processes and increase our ability to promote and expand our State-of-the-Art Technology. The Fiber Optic market is ripe for high quality fiber optic cable and we intend to capitalize on that as the market leader."

Capstone CTO, Wesley Poff, added, "We are very excited to be moving forward on schedule to bring this great technology to the marketplace. Our planning for this new production facility has been optimized so that we will be ready to hit the deck running as soon as the new machines have completed operational and quality control testing. We fully expect to come online ahead of schedule and begin generating revenues sooner rather than later."

Capstone Technologies Group, Inc. is very anxious to start down the path that will enable it to fulfill its goal of making American Fiber Optics Group, Inc. one of the premier names amongst Fiber Optic Cable producers in the world. Capstone has done its research and prepared well for this day. The company is now ready to turn its plans into reality.

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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