Deswell Industries Inc. Makes Significant Investment in New Plastic Injection Machinery and Tooling Equipment.Business Editors HONG n. 1. A mercantile establishment or factory for foreign trade in China, as formerly at Canton; a succession of offices connected by a common passage and used for business or storage. KONG--(BUSINESS WIRE)--Sept. 8, 2003 Deswell Industries, Inc. (Nasdaq: DSWL) today announced the further expansion of its plastic-injection-molding operation in Dongguan, China to meet customer order requirements. Following the completion of phase I construction and interior build-out Build-out is an urban planner’s estimate of the amount and location of potential development for an area. Build-out is one step of the land use planning process. Evaluation of potential development impacts begins with a build-out analysis. of the new Dongguan plastic-injection manufacturing plant, the company recently made a significant investment in new machinery and equipment. The company purchased approximately $3.6 million worth of small- to medium-size machines and equipment. Included in this purchase were 55 sets of Chen Hsong hydraulic injection machines with a 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 55 tons to 88 tons; five sets of double-injection machines with a clamping force of 200 tons; nine sets of Fanuc electric precision-injection machines with a clamping force of 75 tons to 140 tons; four sets of Sumitomo high-speed precision-injection machines with a clamping force of 75 tons to 100 tons; two sets of high-precision large Makino electric discharge machines; and two sets of high-precision Mitsubishi wire-cut machines. The installation of these machines should be completed by the end of November 2003. Mr. Richard Lau, chief executive officer of Deswell, said, "This is another critical step in our capacity expansion to meet the growing demand from both new and existing customers. Once fully operational, these machines will add approximately 20% to 25% more capacity at our plastics division. Moreover, these new and more advanced machines will enable the company to efficiently produce more sophisticated plastic products. With a spacious production plant ready for operation, I am confident that we will realize a return on our investment in the near future." About Deswell 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 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., Inter-Tel Incorporated, Vtech Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See 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. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Certain statements are included in this news release that are not historical and are "forward-looking." Such 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. include risks detailed from time to time in Deswell's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from results expressed or implied by forward-looking statements contained in this document. These forward-looking statements speak only as of the date of this document. |
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