Deswell Industries, Inc. announces status of facility expansion.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) today announced that the Company has begun to occupy the newly leased 20,000 square foot factory space in Shenzhen, China. The newly leased space, adjacent to the Company's existing premises, will be used to meet the growing demand of the Company's injection molded plastic products. This new production space is in addition to the 15,000 square foot facility expansion made during November,1995. The Company noted that it has purchased 13 state-of-the-art injection molding injection molding n. A manufacturing process for forming objects, as of plastic or metal, by heating the molding material to a fluid state and injecting it into a mold. and heavy tooling machines. These machines have arrived at the Shenzhen facility and will be installed in the expanded 20,000 square foot facility. Additional advanced tooling machines are scheduled to arrive during April, 1996. Mr. Richard Lau, Chief Executive Officer commented, "The Company's expansion plan is proceeding on schedule. The additional space enables Deswell to fully capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the increasing demand for our products and services. Our customer-oriented focus and state-of-the-art equipment, combined with our previously announced ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. certification, ensures that we continue to produce high-quality products, maintain good relationships with our existing customers, and gain new contracts with industry leading customers." 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 and 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 studytechnik GMBH and Shakespeare (H.K.) Limited. CONTACT: Lippert/Heilshron & Associates John Nesbett, ext. 101 212-838-3777 |
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