Bel Reopens Dominican Republic Facility in New 40,000 Square Foot Building.JERSEY CITY, N.J. -- Bel Fuse Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BELFA) (NASDAQ:BELFB) announced today that it has reopened a new, higher capacity 40,000 square foot facility in San Christobal, Dominican Republic Dominican Republic (dəmĭn`ĭkən), republic (2005 est. pop. 8,950,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola. The capital and largest city is Santo Domingo. . The new building, located in the same 'free-zone' industrial park, replaces the facility which was severely damaged by fire on February 17, 2006. "The building's increased capacity will enable Bel to raise production and add new product lines to this facility," said Daniel Bernstein, President of Bel. Bernstein noted that, prior to the fire at the old facility, sales of products manufactured at Bel's Dominican Republic facility accounted for approximately 4% of the Company's worldwide revenue in 2005. About Bel Bel (www.belfuse.com) and its subsidiaries are primarily engaged in the design, manufacture and sale of products used in networking, telecommunications, high speed data transmission and consumer electronics. Products include magnetics (discrete components An elementary electronic device constructed as a single unit. Before integrated circuits (chips), all transistors, resistors and diodes were discrete. They are widely used in amplifiers and other devices that use large amounts of current. , power transformers and MagJack(R)s), modules (DC-DC DC-DC Direct Current to Direct Current (power conversion) converters, integrated analog front end modules, custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect (1) To attach one device to another. (2) A physical port (plug, socket) or wireless port (transmitter, receiver) used to attach one device to another. devices (passive jacks, plugs and cable assemblies). The Company operates facilities around the world. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Except for historical information contained in this news release, the matters discussed (including the statements regarding increasing production and adding new product lines to the Dominican Republic facility) are forward looking statements that involve risks and uncertainties. Among the factors that could cause actual results to differ materially from such statements are: the logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation difficulties associated with shifting production to other facilities, the time necessary for the Company to add new product lines to the facility, the reactions of the Company's customers as well as other uncertainties detailed from time to time in the Company's SEC reports. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. We undertake no obligation to update or revise any forward-looking statements. #4196 |
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