VANCOUVER, British Columbia, March 12, 2014 (GLOBE NEWSWIRE) -- Valdor Technology International Inc. ("Valdor") (TSX-V:VTI) (OTC:VTIFF) is pleased to announce that Mr. Hector Toledo, of Mexico City, Mexico has been appointed to the Board of Directors.
Mr. Toledo received a Bachelor in Civil Engineering from the Universidad Nacional Autonoma de Mexico (UNAM) in 1974; a Master in Business Administration (MBA) from University of California – Los Angeles (UCLA) in 1977; a Bachelor in Telecommunications Engineering from Technical University of Achen (Germany) in 1981 and; an MBA from Instituto Para Alta Educacion de Empresas (IPADE – Mexico City) in 1986. Mr. Toledo has also attended several University Executive Programs in various countries.
From 1979 to 1984, as President with Northern Telecom de Mexico (Nortel) Mr. Toledo built sales from initial roll-out to $US400,000,000/year. From 1985 to 1989, as Executive Vice President with Tyco International Ltd, he expanded a distribution network throughout Central and South America marketing to telephone companies, competitive local exchange carriers, internet service providers and cable televisions. From 2001 to 2004, as President with Matra Communications de Mexico/European Aeronautic Defense and Security (EADS) Telecom, he established sales teams and built sales in Mexico from initial roll-out to $US500,000,000/year. For this accomplishment, in 2001, he won the award of Mexican Telecom Sector Executive of the Year. From 2004 to 2009, as Managing Director with Opterna Inc NeSt Group (Indian based junior company), he took sales from initial roll-out to $US7,000,000/year. Mr. Toledo is currently Chief Executive Officer of his own private technology consulting company, HT Technologies.
Mr. Toledo has had management, sales and marketing experience in USA, Mexico, Central America, South America, France, Germany, India, Soviet Union, Egypt, Turkey, Australia and South Africa, predominantly with telecom and information technology systems. He is fluent in Spanish, English and German and has working knowledge of French. He has personal and business relationships with many of the senior executives who control some of the largest telecommunications companies in Latin America.
Mr. Elston Johnston, Chairman/Director states, "Hector brings a rich and diverse pool of sales, marketing and management experience from his long career in the telecom sector. His business contacts and relationships can help open markets for us in Mexico, Central America and South America. Hector's experience will be of great value to our corporate growth and we look forward to the strategic vision he will provide as Valdor moves into its next phase of growth."
Valdor has granted 350,000 incentive stock options to Mr. Toledo at $0.10 per share vesting every six months. These options have been granted for a period of five years in accordance with the terms and conditions of the Company's Stock Option Plan. Valdor has agreed to pay Mr. Toledo a 5% commission on sales generated in Latin America and other areas where he has been instrumental in bringing in new purchase orders.
About VideoWare: VideoWare is in the streaming media industry and markets the Niagara and GoStream product lines, internationally. There are four patents associated with these product lines. Streaming video is the future of television and Valdor management believes now is the time to enter this compelling business sector. In addition to the price versus value argument supporting Valdor making this acquisition: 1) the streaming video industry is converting to fiber optics; 2) the VideoWare customers are a market for fiber optic components, unrelated to their video streaming and; 3) VideoWare management, that are part of the acquisition, has significant experience and contacts in the fiber optics industry.
About the Fiber Optics Industry: Fiber optics is the future of communications. The signal transmission business is in the early stages of a fiber optics bull market. Signal transmission in its many and various forms is being converted from electrical to fiber optics. A comprehensive report by Global Industry Analysts Inc., on the fiber optic components market, projects that the fiber optics market will reach US$42 billion by the year 2017.
About Valdor Technology International Inc. (www.valdortech.com): Valdor is a high technology fibre optic components company specializing in the design, manufacture and sale of fiber optic splitters, connectors, laser pigtails and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact MountTM technology. Valdor specializes in harsh environment products and in particular splitters and connectors. The Valdor business plan incorporates growth by acquisition. For further information on Valdor's product lines please visit www.valdor.com.
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ON BEHALF OF THE BOARD OF DIRECTORS OF
VALDOR TECHNOLOGY INTERNATIONAL INC.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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