[ad_1]
OTTAWA, February 6, 2019 (GLOBE NEWSWIRE) – Enablence Technologies Inc. ("Enablence" or "the Company") (TSXV: ENA), a leading supplier of optical components and subsystems for the wireless markets. access, metropolitan and long distance, announced today changes in the composition of its management team, including changes in its CEO and CFO, changes to its board of directors 39; Administration following its annual and special meeting of shareholders and the receipt of a purchase order in the amount of 4 million USD from a new customer.
The appointment of a new CEO adds significant experience and relationships in the industry and a new Acting Chief Financial Officer
Steve Wang has been appointed Chief Executive Officer of the Company, with immediate effect. Mr. Wang replaces Evan Chen, who has stepped down as CEO of the company. Mr. Chen will continue to serve on Enablence's board of directors.
Mr. Wang is an experienced technology executive with over 25 years of experience in the industry. Mr. Wang has held senior positions at Alien Technology, Checkpoint System Inc. and Finisar. Mr. Wang holds 70 patents. He received a Ph.D. in Electrical Engineering from the Technical University of Denmark in 1991 and a Ph.D. (ABD) in Semiconductor Physics from Jilin University in China in 1987.
In addition, the company announced that Todd Zhang, chief financial officer of the company, was also retiring. Gerald Leahy will badume the position of Acting Chief Financial Officer and his current role as Treasurer, a position Mr. Leahy has held with the company since 2012.
Changes to the board of directors
At the annual and special meeting of shareholders held on February 5, 2019, Derek H. Burney, Louis De Jong, Dan Shmitt, Evan Chen and Yongxing Zhu were elected directors of the Company. In addition, Derek H. Burney has been appointed Chairman of the Board.
$ 4 million purchase order from a new customer
The company received a first order form for multiplexer and demultiplexer chipsets from a new customer. The purchase order is valued at approximately $ 4 million and is expected to be delivered in the next 14 months. The order will be executed at Enablence facilities in Fremont, California.
Steve Wang, CEO of Enablence, said, "We are delighted to have received this first purchase order, which reflects Enablence's significant efforts to reinvigorate our sales momentum. to seize new business opportunities in the coming months. "
About Enablence Technologies Inc.
Enablence is a publicly traded company that designs, manufactures and sells optical components and subsystems to a global customer base. It uses its proprietary technologies, including the intellectual property of planar lightwave circuits, to produce a set of photonic components and broadband subsystems providing an essential part of the infrastructure for current and future telecommunication systems. generation. The company's product lines cover the three segments of optical networks: access – the connection of homes and businesses to the network; Metro – communication networks in big cities; and long haul – connecting cities and continents. For more information, visit www.enablence.com.
Forward-looking statements
This press release may contain forward-looking statements with respect to the Company's business, based on current expectations and badumptions that involve risks and uncertainties related to our business and the economic environment in which it operates. All such statements are made in accordance with the "Safe Harbor" provisions of applicable Canadian securities legislation and are intended to be forward-looking statements. All statements contained in this document that are statements of historical fact may be considered forward-looking statements. By their nature, forward-looking statements require us to make badumptions and are subject to inherent risks and uncertainties. We caution readers of this press release not to place undue reliance on our forward-looking statements, as a number of factors could result in significantly different results or conditions compared to current expectations. Please refer to the risks set out in the Company's continuous disclosure documents available on SEDAR at www.sedar.com. Enablence does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statement, whether as a result of new information, or to 39, future events or otherwise.
For more information, contact:
Enablence Technologies Inc.
+1 613 656-2850 ext. 2
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this document. communicated.
Source: Enablence Technologies Inc.
Source link
