Deswell Industries, Inc. Announces Facility Expansion and Progress of New Plastic Injection Plant Construction.Business Editors HONG KONG--(BUSINESS WIRE)--April 22, 2002 Deswell Industries, Inc. (Nasdaq: DSWL) today announced that it has purchased 12 additional Mitsubishi and Chen Hsong injection molding machines Injection molding machine (also known as injection press) - a machine for making plastic parts. Manufacturing products by injection molding process. Consist of two main parts, an injection unit and a clamping unit. , with clamping clamping (klamp´ing) in the measurement of insulin secretion and action, the infusion of a glucose solution at a rate adjusted periodically to maintain a predetermined blood glucose concentration. force of 365 tons to 550 tons, for further expansion of its injection operation in Dongguan, China. The machines, which cost approximately $1.5 million, will be installed by July 2002. The Company also announced that it has purchased and upgraded its tooling software used in the mold-making process for enhanced precision and efficiency. The Company also announced that construction of their new 550,000-square-foot plastic-injection plant is progressing well and remains on schedule. With construction expected to be complete by August 2002, the facility should be operational by October 2002. This new facility will expand Deswell's plastics division by approximately 40%. Moreover, the Company expects to build an additional 150,000-square-foot facility, which should be operational by March 2003. These facilities are being built on the 1.3 million square feet of land the Company leased in Dongguan to expand its plastic operations and to reduce its annual rent and labor costs. Deswell expects to announce its fourth-quarter and year-end results and a dividend declaration in early June 2002. Deswell manufactures injection-molded plastic parts and components, electronic products and subassemblies, and metallic products for original equipment manufacturers ("OEMs") and contract manufacturers at its factories in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. The Company produces a wide variety of plastic parts and components used in the manufacture of consumer and industrial products; printed circuit board assemblies using surface mount ("SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management "), and pin-through hole ("PHT PHT Phenytoin (antiepileptic, Dilantin) PHT Pulmonary Hypertension PhT Pharmacy Technician PHT Post-Harvest Technology PHT Pattern History Table PHT Pressure Half Time PHT Public Health Trust ") interconnection in·ter·con·nect v. in·ter·con·nect·ed, in·ter·con·nect·ing, in·ter·con·nects v.intr. To be connected with each other: The two buildings interconnect. v.tr. technologies; and finished products such as telephones, telephone answering machines, sophisticated studio-quality audio equipment and computer peripherals. The Company's customers include Kyocera Mita Industrial Co. (H.K.) Limited, Epson Precision (H.K.) Ltd., Namtai Electronics (Shenzhen) Co. Ltd., Inter-Tel Incorporated, Vtech Communications Ltd., Peavey Electronics Peavey Electronics Corporation is one of the largest audio equipment manufacturers in the world, headquartered in Meridian, Mississippi in the United States. History Hartley Peavey founded Peavey Electronics in 1965 after building his first amplifier in 1957. Corporation and Emerson. To learn more about Deswell Industries, Inc., please visit the Company's web site at www.deswell.com . |
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