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| Thursday, 22 July 2010, 22:30 HKT/SGT | |
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Source: Anwell | |
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SINGAPORE, July 22, 2010 - (ACN Newswire) - Anwell Technologies Limited ("Anwell" or "Group"), a global supplier of advanced manufacturing equipment and process technologies for the optical disc, OLED and solar industries is pleased to announce that it has entered into a memorandum of understanding ("MOU") with a global media manufacturer to deliver a significant number of pre-recorded Blu-ray Disc ("BD") manufacturing equipment.
Under the MOU, Anwell will develop prototype equipment for BD manufacturing and collaborate with the customer to optimize the manufacturing process targeting for faster cycle time according to customer's requirement. Upon completion of the optimization process, the customer intends to begin taking delivery of the machines which will stretch over the next three years.
"We are very pleased to sign this MOU with such an established customer and appreciate their confidence in our R&D capabilities. With a potential revenue of over US$100 million upon completion of equipment sales, we are beginning to reap the rewards for the substantial effort we have invested into developing cutting edge BD manufacturing solutions," Said Franky Fan, Executive Chairman & CEO of Anwell.
"We have been a market leader to provide manufacturing equipment for recordable media such as DVD-R. This MOU not only brings us meaningful revenue in the next three years, but also marks a milestone of our development in the pre-recorded sector of the industry. It shows the recognition of our technologies by one of the most important media manufacturers. As the acceptance of BD begins to take root worldwide, we hope to gain greater access into the global market and realize our potential in the pre-recorded BD equipment sector."
Blu-ray Disc: An industry on the move
According to The Digital Entertainment Group, US sales of BD discs continues to lead all other forms of digital media reaching a combined total of US$982 million for the first half of the year. Household penetration amongst US households, the largest home entertainment market in the world, continues to improve reaching a total of 19.4 million BD playback devices in June 2010.
Pick up rates amongst other major economies have also been gathering steam, as consumer purchases of BD titles increased 107% in major markets in Western Europe and Japan during the first half of 2010 according to Media Control GfK International research firm. Worldwide BD player shipments are expected to grow by more than double between 2009 and the end of 2010, and ABI Research, a US based market research firm, expects a continued growth next year for a total of more than 62.5 million shipments in 2011.
Contact:
Ken Wu, CFO
Anwell Technologies Limited
Tel: +852 2499 9178
Fax: +852 2499 9170
E-mail: kenwu@anwell.com
Kamal Samuel/ Adrian Seah
Financial PR Pte Ltd
Tel: +65 6438 2990
Fax: +65 6438 0064
E-mail: kamal@financialpr.com.sg
adrian@financialpr.com.sg
Topic: Contract Awarded
Source: Anwell
Sectors: Consumer Electronics
http://www.acnnewswire.com
From the Asia Corporate News Network
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