Deswell Industries, Inc. Announces Facility Expansion.HONG KONG--(BUSINESS WIRE)--December 30, 1996--Deswell Industries, 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 NM Symbols: DSWLF, DSWWF) (the "Company") today announced that it has leased an additional 40,000 square feet of factory space in Shenzhen, China. The newly leased space, adjacent to the Company's existing premises, will be used to meet the growing demand for the Company's injection molded plastic products. This new production space compliments the existing 185,000 square foot facility which houses the Company's Jetcrown plastics operations. The Company further noted that it has recently purchased 30 additional, state-of-the-art 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. , which the Company plans to install at both its existing facilities and at the newly leased space over the coming months. Mr. Richard Lau, Chief Executive Officer, stated, "The Company's expansion plan is proceeding on schedule. Over the past 18 months, Jetcrown plastics operations has expanded its production facilities by over 95,000 square feet, bring total production space to 225,000 square feet. With the additional lease of 40,000 square feet of new production space, Jetcrown will be able to meet the growing demand for its products and services throughout 1997. We remain committed to enhancing the quality of our products and expanding our capacity so we may continually meet the needs of our customers' growth." Deswell manufactures injection-molded plastic parts and components and electronic products and subassemblies for original equipment manufacturers ("OEMs") and contract manufactures 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 technology ("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 ("PTH PTH abbr. parathyroid hormone Parathyroid hormone (PTH) A chemical substance produced by the parathyroid glands. This hormone is a major element in regulating calcium in the body. ") interconnection technologies; and finished products such as telephones, telephone answering machines, sophisticated studio-quality audio equipment and computer peripherals. The Company's customers include Mita Industries (H.K.) Limited, Nam Tai Electronics (Shenzhen) Co. Limited, Inter-Tel Incorporated, Behringer spezeiller studiotechnik GmbH, Prod-Art Company Limited and Shakespeare (H.K.) Limited. CONTACT: Lippert/Heilshorn & Associates, Inc. John Nesbett, ext. 101 212-838-3777 E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : JGN JGN Japan Gigabit Network (telecommunications network) @LHAI.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. |
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