HAYWARD, CALIFORNIA--(Marketwire -06/07/12)- The following corrects and replaces the press release disseminated today at 2:53 pm ET. The correct contact email address for Valdor's California Operations is email@example.com.
Valdor Technology International Inc. (VTI.V) ("Valdor") is pleased to announce that Mr. Robert Nickel, Mr. Ralph Kettell, Mr. Rick Pogue and Mr. Ron Boyce have increased their commitment to the Valdor team. Messrs. Kettell, Pogue and Boyce have joined the Board of Directors. Mr. Nickel has been named CEO and President and has been nominated to join the Board of Directors at the upcoming Annual General Meeting on June 29, 2012. Mr. Boyce has been promoted to the office of Vice President Sales & Marketing. Mr. Elston Johnston, Director, has been named Chairman of the Board. Mr. Brian Findlay, Director, remains Chief Financial Officer. Mr. Las Yabut remains Vice President Manufacturing. This reorganization brings forward an exciting change in leadership, with experience in building companies in the technology/telecom sector. The Company will focus on growth of sales and profitability taking advantage of Valdor's industry leading next generation product lines.
Mr. Nickel received the degree of Bachelor of Commerce (B. Comm.) from the University of Manitoba, in 1979, and obtained the designation of Chartered Accountant (CA), in 1982. He has 30 years of entrepreneurial experience in: leading manufacturing company turnarounds; venture capital funded start-ups; purchase of businesses; sale of businesses; Fortune 100 strategic alliances and; joint ventures with industry leading Fortune 100 companies, in the capacities of Director, President, CEO and CFO. In 1992 he was recognized as Entrepreneur of the Year in the Province of Manitoba. Mr. Nickel currently lectures at the Stu Clark Centre for Entrepreneurship at the Asper School of Business, Winnipeg, Manitoba.
Mr. Kettell received degrees of Bachelor of Science in Electrical Engineering and Master of Science in Electrical Engineering (BSEE & MSEE) from Lehigh University and has worked as a Consulting Electrical Engineer for several high profile aerospace and industrial engineering companies. He has worked principally as a microwave and radio frequency (RF) circuit and systems design engineer on military, space and commercial programs. Mr. Kettell was the lead RF Engineer at Litton Space Systems on the Space to Space Communications System used in the construction of the International Space Station. He has consulted for many of the largest aerospace firms in the U.S. including 14 years with Northrop Grumman and three years with Lockheed Martin. He is an independent investor and owns more than 9% of the Valdor shares.
Mr. Pogue attended Western University in London Ontario majoring in Business. He has over twenty-five years experience in the investment industry. Mr. Pogue has worked with several national banks and investment companies as an investment adviser and most recently has worked at Raymond James Ltd.
Mr. Boyce received a Bachelor of Commerce with a major in Marketing from the University of Alberta in 1981. He has held several high profile positions with Manitoba Telecom Services Inc. and was Director of Sales and Marketing for AT&T Canada for the Prairie Provinces. Mr. Boyce was the first hire in the Prairie Provinces for Metronet Communications Corp., the first national competitive local exchange carrier in Canada and was Director of Sales Western Canada for Netstone Communications Inc., the first building exchange carrier in Canada. During Mr. Boyce's tenure, Metronet Communications Corp. installed more than $200 million of fibre optics infrastructure across Central Canada. He was one of the founders of Parabola IP Solutions Inc., an IP management software company, where he held the position of Vice-President of Sales and Marketing. He has won Presidents Club, Everest League and Summit awards, in recognition of his success in sales and marketing. Early in his career, Mr. Boyce was an Advanced Certified Financial Planner with Investors Group Financial Services Inc.
Dr. Pier Antoniucci has resigned as Director. The Valdor Board thanks Dr. Antoniucci for his contributions during the past years and wishes him well with his future endeavors. Dr. Michel Rondeau has resigned as CEO and President of Valdor, but will continue to provide services and support on a consulting basis.
About the Fiber Optics Industry: Fiber optics is the future of communications and fiber optic connectors are one of the major profit centres within this market. The signal transmission business is in the early stages of a fiber optics bull market. All signal transmission, in their many and various forms, are being converted from electrical, using copper wire and coaxial cable, to fiber optics. In the USA, the Obama administration has recently pledged US$7.2-billion for 100 million Americans to have access to super high speed internet. This high speed internet will require significant fiber optic infrastructure. An increase in demand for shorter optical links is fueling the market for fiber-optic connectors and mechanical splices, according to ElectroniCast Consultants (www.electronicast.com). Demand for high speed access is bringing fiber closer to end users. Demand for shorter links, where connectors represent a substantial share of the total installation cost, is accelerating. According to Stephen Montgomery, president of ElectroniCast, "Worldwide multimode connector consumption value is forecast to nearly double during the 2010-2015 timeframe" (Lightwave Online Article).
About Valdor Technology International Inc. (www.valdortech.com): Valdor, established in 1985, is a high technology fiber optic components company specializing in the design and manufacture of fiber optic connectors, laser pigtails, and other optical and optoelectronic components using its proprietary patented Impact Mount™ and HeptoPort technologies. Valdor's Impact Mount™ technology is all-mechanical with no epoxy or matching gel. Valdor's patented IMT field installable termination kits and connectors are ideal for harsh environment applications and quick repair in the field.
For information on Valdor's products please visit www.valdor.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF VALDOR TECHNOLOGY INTERNATIONAL INC.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Valdor Technology International Inc. - California Operations
3116 Diablo Avenue
Hayward, CA 94545
Tel: (510) 293-1212
(510) 293-9997 (FAX)
Valdor Technology International Inc. - Canadian Office
480 - 789 W. Pender Street
Vancouver, B.C. V6C 1H2
Tel: (604) 687-3775
(604) 689-7654 (FAX)