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VENTURA COUNTY REPORT / JACK SEARLES

Simi Valley Firm Teams With Brazilian Company

April 27, 1993|JACK SEARLES

Advanced Compression Technology Inc., a Simi Valley company that recently formed a joint venture with a Chinese government agency to provide a telecommunications network in China, has signed a Brazilian engineering and telecommunications firm as an equity investor and business partner.

The Brazilian company, Promon Ltda of Sao Paulo, has invested several million dollars in Advanced, according to Martin Shum, president of the Simi Valley concern. Shum said Carlos Siffert, Promon's president, will join Advanced's five-member board.

Shum said he hopes to make use of Promon's telecommunications products and expertise in moving into Brazil and other markets.

"Promon's financial backing will provide us with the working capital we need, and their presence in Brazil will help us capture a significant share of that market," Shum said.

Advanced produces systems for carrying voice, fax and data communications over leased phone lines and via satellites and radio signals.

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