BEIJING, Oct. 12, 2011 /PRNewswire-Asia-FirstCall/ -- Telestone Technologies Corporation (NASDAQ: TSTC) (the "Company"), a leading supplier of local access network solutions for communications networks in China, today announced that it has completed the main structure of Phase I of the Telestone Intelligent Premises System (TIPS) Industrial Park project, located in Gu'an County, Hebei province. Mr. Daqing Han, Chairman and Chief Executive Officer of Telestone, visited the construction site on September 29, along with other senior management members, to inspect and review the project.
Phase I of the project occupies approximately 42,000 square meters and is comprised of six buildings for research and development, manufacturing, marketing and training. According to the construction plan, Phase I of the project is expected to be completed in March 2012, and the facility is expected to enter trial production following the furnishing of the interior in May 2012.
"Our TIPS Industrial Park represents an important strategic initiative for us," commented Mr. Daqing Han, Chairman and Chief Executive Officer of Telestone. "The completion of Phase I of the project will create a broad new platform to support the various functions necessary to further our TIPS program."
TIPS is a groundbreaking technology based on Telestone's Wireless Fiber-Optic Distribution System (WFDS) technology. The core of TIPS is Telestone's Unified Premises Information Network System (UPINS) technology, which distributes all information generated or required at any time and at any location within a premises network in a timely manner. TIPS networks are characterized by ultra-wide bandwidth, long transmission distances, and multi-cascading technology.
TIPS is expected to be installed in many applications, including municipal projects, airports, railways, highways, streets, communities, properties, buildings, houses, medical facilities, and many others, in order to create an efficient, convenient and unified intelligent platform to meet various business needs.
About Telestone Technologies Corporation
Telestone is a leader and innovator in wireless local-access network technologies and solutions. The company has a global presence, with 30 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has installed radio-frequency (RF)-based 1G and 2G systems throughout China for its leading telecommunications companies. After intensive research on the needs of carriers in the 3G age, Telestone developed and commercialized its proprietary third-generation local-access network technology, WFDS™ (Wireless Fiber-optic Distribution System), which provides a scalable, multi-access local access network solution for China's three cellular protocols. Telestone also offers services including project design, manufacturing, installation, maintenance and after-sales support. The Company has approximately 1,300 employees.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of Telestone Technologies Corporation and its subsidiary companies. Forward looking statements can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to new facilities, facility construction, future products, future customers, and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Investor Relations Contact:
Telestone Technologies Corporation
CCG Investor Relations
Ms. Alex Qi, Assistant Secretary of the Board
Mr. John Harmon, CFA, Sr. Account Manager
Phone: +86-10-6860-8335 x1115
Phone: +86-10-6561-6886 x807 (Beijing)
SOURCE Telestone Technologies Corporation