Advantego Corporation Signs Major Manufacturing Agreement

DENVER, CO, Nov. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Advantego Corporation ADGO today announced the signing of an agreement with manufacturer and exporter Shenzhen Ferex Electrical Co., Ltd of China to manufacture and supply electrical components and systems.  

Ferex is a wholly-owned subsidiary of Sichuan Jiuzhou Electric Group Co., Ltd (JIUZHOU). JIUZHOU is a publicly-traded company in China with Stock Code (000801).  Company website: www.JIUZHOU.com.cn.

Founded in 1984, the production plant area is 20,000 square meters and the firm employs close to 3,000 people.  Ferex is a manufacturer of high-quality IPC products, network security and computer peripheral products, motherboards, graphics cards, set-top boxes, e-books, tablet PCs and other PCBA surface mount products.

"With this relationship now in place, we will be able to fulfill production requirements of a number of manufacturing and licensing agreements that we have been in discussions with for months," according to Advantego CEO Robert W. (Rob) Ferguson. "This agreement facilitates our current and future distribution agreements concerning some exciting new products related to digital TV systems, digital home theatre equipment and the underserved hearing-impaired market that includes some 48 million Americans," he said. 

Ferguson also said: "The added ability to redesign existing products and develop new ancillary products that will reduce costs and increase profits long term was also a major component entering this relationship with Ferex."  

The contract is effective immediately and runs through 2019 with annual renewals.

ABOUT ADVANTEGO CORPORATION

Advantego Corporation designs, develops and implements digital communications and intelligent software solutions as specialized Business Process as a Service (BPaaS).  The elite, custom business solutions are available to large enterprises, affiliate networks and franchise operations.  The Company also offers a variety of stand-alone products specific to targeted industries.  Company website: www.advantego.com.

FORWARD LOOKING STATEMENTS

This news release may contain forward-looking statements within the meaning of the Securities Act.  As a general matter, forward-looking statements may reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business.  These statements may be identified using forward-looking terminology such as "may", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "outlook" and similar expressions.  The forward-looking statements contained in this news release are based upon our historical performance, current plans, estimates, expectations and other factors we believe are appropriate under the circumstances.  The inclusion of this forward-looking information is inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated.  Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements.  Statements regarding the following subjects, among others, may be forward-looking: our business and investment strategy; our projected operating results; estimates relating to our ability to make distributions to our stockholders in the future and economic trends.

CONTACT:

 

GREG McANDREWS & ASSOCIATES

Gregory A. McAndrews

(310) 804-7037

mcandrews_pr@hotmail.com