Fonon Corporation Announces Expansion Into South American Market
Increased capital investment in industrial laser equipment expands footprint of Fonon brand Laser Photonics
Lake Mary, Florida, February 15, 2016 (Newswire.com) - Fonon Corporation (OTC: FNON) today announced its expansion into additional markets in South America, increasing its acceptance footprint across the continent and securing a number of strategic agreements in both Portuguese-speaking and Spanish-speaking markets.
The company’s laser-based subtractive material processing products, presented under the Laser Photonics brand, were previously available in several Latin American markets; recent technology updates, combined with the brand’s longstanding reputation for durability, have led to multiple new customers in Brazil and Colombia.
The entire South American region has been traditionally under-served in the laser marking, engraving, and cutting market. Fonon's advanced products offer laser material processing at a price point unmatched in the industry. We look forward to serving our customers' success and growth across Latin America.
Jay Schlegel, Vice President, Fonon Corporation
Fonon, the parent company of Laser Photonics, is currently collaborating with large manufacturers, integrators, and distributors in the region. New sales in the region have mainly consisted of laser-based marking and engraving machines and the high-volume Drillmaster system, a specialized high-speed laser drill bit marking system which is maintenance-free and requires no consumables.
“We’re pleased to announce multiple shipments to Latin America, and additional orders booked to Brazil and Colombia which will be fulfilled during Q1 of 2016,” said Jay Schlegel, Vice President of Fonon. “It is encouraging to see that ongoing economic development, steady population growth and encouraging manufacturing outlook in these countries has translated to an increasing need for advanced manufacturing solutions.”
“The entire South American region has been traditionally under-served in the laser marking, engraving, and cutting market,” said Schlegel. “The high costs and limited functionality of last generation’s laser solutions has led to a deep need for the products at which we excel. Fonon’s advanced products offer laser material processing at a price point unmatched in the industry. We look forward to serving our customers’ success and growth across Latin America.”
Laser Photonics products, offered exclusively by Fonon, are available now.
About Fonon Corporation
Fonon designs laser-based material processing technologies for advanced industrial manufacturing and manufactures state of the art equipment utilizing those technologies. The company products empower manufacturers in the areas of application-specific 3D metal printing (additive manufacturing), and 2D and 3D laser cutting, marking and engraving applications (subtractive manufacturing). Our products and technologies are used today in every sector of any manufacturing industry from food and beverage to medical, aerospace and semiconductor.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and the company’s ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Fonon is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences except as required under applicable law.