[December 28, 2004] TXP Enters Business Agreement with the Republic of Korea's Gwangju Metropolitan City, Photonics 2010 Initiative; Michael C. Shores on Board of Gwangju Photonics Cluster Tweet RICHARDSON, Texas --(Business Wire)-- Dec. 28, 2004 -- TXP-TEXAS PROTOTYPES, Inc, global provider of prototyping electronics manufacturing services (EMS) for original equipment and contract manufacturers, and the Republic of Korea's Gwangju Metropolitan City, Photonics 2010 Initiative have entered into a mutual business and investment cooperation relationship. Michael C. Shores, president and chief executive officer of TXP, has served on the advisory board for Gwangju Photonics Cluster in Gwangju Metropolitan City, South Korea since February 2002. The agreement was signed by Mr. Gwang Tae Park, mayor of Gwangju Metropolitan City, who represented the Gwangju Metropolitan City's Photonics 2010 Initiative, and Michael Shores. The Korean government has granted Gwangju City a total of $750M for Phase-I and Phase-II (2000-2008) photonics development programs to build a photonics infrastructure. At the heart of this program is the Korea Photonics Technology Institute (KOPTI). KOPTI is well equipped with 360,000 square feet of laboratory space, $70M in equipment and facilities, and a Telcordia qualification lab to support Korean researchers and companies. In addition, KOPTI's new proposal for a sub-system FAB Line Program, approved by the government, will fill a gap between new business start-ups and venture capitalists by supporting prototyping, pilot production, and marketing. KOPTI hopes that this new program will bring leading photonics companies to the photonics cluster city of Gwangju. "Anyone in the world with a new breakthrough technology concept, talents, and team is welcome to Gwangju," said Dr. Taeil Kim, the president of KOPTI. "We established KOPTI in April 2001 as a research institute dedicated to the development of photonics technology and industry in Korea. KOPTI guides the Korean photonics industry to opportunities to create value by industrializing basic and applied technologies, building an advanced technology infrastructure, and implementing a comprehensive industrial support system." "This is an exceptional opportunity for our company and the industry," stated Mr. Shores, commenting on the agreement. "This global initiative fits TXP's core competencies in quick-turn prototyping, product development, and assembly services for the photonics and optoelectronics industries and our focus on global supply chain deliverables. We plan to accelerate our participation in this initiative. As a member of the advisory board for Gwangju Photonics Cluster I have seen the dedication and efforts made by the Gwangju government to become a leading photonics technology center." Mr. Gwang Tae PARK said, "It has been a great pleasure to work with Michael on the advisory board. His breadth of experience and excellent knowledge of the photonics industry sector, and strong track record in championing new technology development, significantly strengthens our board and the industry that we serve." Gwangju, which means "The City of Light", is the industrial and logistics hub of the southwestern coastal area of Korea, bordering China. It has focused on fostering value-added and knowledge-based emerging growth industries such as photonics, high-tech parts and materials, design, solar energy, and the environment. The photonics industry in particular is a core industry. It is expected that Gwangju will be one of the world-class cities for photonics technology by 2010. Gwangju covers an area of 501 km2 and has a population of 1.40 million. For information about Gwangju Metropolitan City, Korea contact Mr. Lee Jay, E-mail: [email protected], Tel: +82-62-606-3234 or visit www.kti.org/may_jun_01/investment/wheretoinvest/wheretoinvest.htm. For information about Korea Photonics Technology Institute (KOPTI) contact Dr. Nam Seong KIM, E-mail: [email protected], Tel: +82-62-573-8605 or +82-11-637-1035 or visit www.kopti.re.kr or its sister site www.kapid.org. About TXP-Texas Prototypes, Inc. TXP-Texas Prototypes, Inc., based in Richardson, Texas, is a global provider of prototyping electronics manufacturing services for original equipment and contract manufacturers. TXP excels in both supply and design chain management and implementation. It serves the quick-turn prototype market segment for complex printed circuit board assemblies, photonics, optoelectronics, and advanced packaging solutions, while forging profitable business opportunities with well-positioned high speed, digital, analog, and RF technologies and industries that require complementary service requirements. TXP's Global Product Launch Model has made a significant contribution in the way products go from design, to supply chain, to build. TXP has three operating divisions that build on its core Design for Manufacturability foundation: Texas Prototypes, Texas Photonics, and Texas Packaging. For more information contact Michael Shores, Tel: 214.575.9300, E-mail: [email protected], or visit www.texasprototypes.com. This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements, including the company's ability to obtain future financing on favorable terms, changes in the contract manufacturing industry that compel the company to alter its present business strategy, the company's ability to attract management capable of implementing the company's existing or future business strategy and the risk factors set forth in the company's SB-2 registration statement. Results actually achieved may differ materially from expected results included in these statements as a result of these factors or others. [ Back To TMCnet.com's Homepage ]