The company signed cooperation agreements with Chinese companies, including a government company.
Start-up FibroLAN of Yokne'am is raising $3 million on the basis of a company value of $10-12 million, before money. The financing round has not yet been completed, and the company is currently negotiating with two US financing groups and one Israeli company. FibroLAN recently opened a representation office in Beijing, China.
FibroLAN develops and manufactures advanced terminal equipment for organizations using fiber optic internal networks. Founder and general manager Israel Stein told "Globes" that the company has signed cooperation agreements with several Chinese communications companies, and the new office is aimed at providing them with technical support and for setting up a local distribution system. FibroLAN has to date signed contracts with four Chinese companies.
"China is undergoing tremendous developments in advanced communications technologies. We believe the Chinese market holds great potential," Stein added. The company will present its products at the upcoming CeBIT exhibition taking place at the end of the week in Hannover, Germany.
Published by Israel's Business Arena on 22 February, 2000