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Post by Franko10 ™ on Sept 29, 2004 19:44:21 GMT -5
Crystalix Europe Signs Definitive Agreement for Turkey
THURSDAY , FEBRUARY 26, 2004 09:00 AM
LAS VEGAS, Feb 26, 2004 (BUSINESS WIRE) -- Crystalix Group International Inc. (OTCBB:CYXG) announces that its fully owned subsidiary, Crystalix Europe, yesterday signed a "Sale of Laser Unit System and Software License Agreement" (the "Definitive Agreement") with Consumer Systems Integration Inc. (CSI) of Turkey. The Definitive Agreement provides for an initial purchase by CSI of two Laser Systems for Ankara and Istanbul, followed by a further four Laser Systems and a Production System within 12 months from the date of the Definitive Agreement. Delivery of the first system is due on or about March 20, 2004. The sale value of the equipment is US$1.15 Million plus an additional estimated US$350,000 in glass sales and license fees.
"To be in this historical country is a fantastic achievement for Crystalix," stated Tamer Muftizade, Chief Financial Officer of Crystalix Europe. "Turkey, the crossroads between East and West, is a fast developing commercial market place with a population of 70 million people, and is also one of the most popular tourist destinations in the world. We believe our operations will be most successful through our association with a major local group like CSI."
"We are thrilled to be working with Crystalix, the leader in this ever expanding market of laser technology," said Erdil Ergunes, Managing Director of CSI. "We are delighted to provide not only facial imaging to individuals in our designated centers, but also to manufacture pre-designed corporate pieces to Turkish corporations and institutions. We believe that Crystalix will be a tremendous success in this region."
About Crystalix Group International Inc.
Crystalix is the leading manufacturer, distributor and marketer of laser subsurface engraved optical-quality glass products. Its principal product is a personalized three-dimensional engraved crystal that features the facial image of one or more persons or other three-dimensional images. As of Sept. 30, 2003, Crystalix had 44 kiosks owned by its marketing partners in retail shopping malls, resorts, promenades, casinos, and theme parks where its crystals are engraved and sold. Its engraving process involves the use of a high-resolution digital camera, a laser image scanner, and a laser that is configured together by a standard desktop personal computer, using its proprietary software and a Windows operating system. The laser image scanner converts images from the digital camera, a customer's digital image, or a hard copy photograph into a three-dimensional or two-dimensional digitally formatted image that will be engraved into the center of the crystal by the laser.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: Crystalix Group International
CONTACT: Princeton Research
Mike King, 702-650-3000
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THURSDAY , FEBRUARY 26, 2004 09:00 AM
LAS VEGAS, Feb 26, 2004 (BUSINESS WIRE) -- Crystalix Group International Inc. (OTCBB:CYXG) announces that its fully owned subsidiary, Crystalix Europe, yesterday signed a "Sale of Laser Unit System and Software License Agreement" (the "Definitive Agreement") with Consumer Systems Integration Inc. (CSI) of Turkey. The Definitive Agreement provides for an initial purchase by CSI of two Laser Systems for Ankara and Istanbul, followed by a further four Laser Systems and a Production System within 12 months from the date of the Definitive Agreement. Delivery of the first system is due on or about March 20, 2004. The sale value of the equipment is US$1.15 Million plus an additional estimated US$350,000 in glass sales and license fees.
"To be in this historical country is a fantastic achievement for Crystalix," stated Tamer Muftizade, Chief Financial Officer of Crystalix Europe. "Turkey, the crossroads between East and West, is a fast developing commercial market place with a population of 70 million people, and is also one of the most popular tourist destinations in the world. We believe our operations will be most successful through our association with a major local group like CSI."
"We are thrilled to be working with Crystalix, the leader in this ever expanding market of laser technology," said Erdil Ergunes, Managing Director of CSI. "We are delighted to provide not only facial imaging to individuals in our designated centers, but also to manufacture pre-designed corporate pieces to Turkish corporations and institutions. We believe that Crystalix will be a tremendous success in this region."
About Crystalix Group International Inc.
Crystalix is the leading manufacturer, distributor and marketer of laser subsurface engraved optical-quality glass products. Its principal product is a personalized three-dimensional engraved crystal that features the facial image of one or more persons or other three-dimensional images. As of Sept. 30, 2003, Crystalix had 44 kiosks owned by its marketing partners in retail shopping malls, resorts, promenades, casinos, and theme parks where its crystals are engraved and sold. Its engraving process involves the use of a high-resolution digital camera, a laser image scanner, and a laser that is configured together by a standard desktop personal computer, using its proprietary software and a Windows operating system. The laser image scanner converts images from the digital camera, a customer's digital image, or a hard copy photograph into a three-dimensional or two-dimensional digitally formatted image that will be engraved into the center of the crystal by the laser.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by lead-in "Looking Forward." These statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of the effectiveness of management's strategies and decisions, general economic and business conditions, new or modified statutory or regulatory requirements, and changing price and market conditions. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statement.
SOURCE: Crystalix Group International
CONTACT: Princeton Research
Mike King, 702-650-3000
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
