ATMD Executes Distributorship Agreement with Samsung.
Mr. Chung-Lun Yang, Chairman and Chief Executive Officer of ACL Semiconductors Inc., commented, "ACL is continuing its business transformation and diversification. We are pleased that the distributorship agreement between ATMD and Samsung has been executed. ATMD is the process of setting up its operating systems and is on track to commence business directly with Samsung during the third quarter."
As previously announced, ACL Holdings entered into an agreement on March 9, 2012 with Tomen to create the joint venture ATMD, which became effective as of April 1, 2012. As a part of that agreement, ATMD issued $10 million in share capital, and is 30% owned by ACL Holdings and 70% owned by Tomen.
*About ACL Semiconductors Inc.*
ACL Semiconductors Inc. is a China-based distributor of semiconductor components in Hong Kong and Southern China. Starting April 1, 2012, ACL is distributing Samsung's semiconductor and LCD products through ATMD, a newly established joint venture with Tomen Devices. ACL has announced two pending acquisitions that will drive ACL's product diversification to higher margin electronic components products. Semiconductor products are used in everything from mobile phones, digital cameras and laptop computers to MP3 players and Wi-Fi products. For more information about ACL Semiconductors Inc. please visit ACL Semiconductors Inc.' corporate website at http://www.acl-semicon.com <http://www.acl-semicon.com/>.
For more information, visit http://www.acl-semicon.com or call 408/981-9363.
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|Date:||Aug 1, 2012|
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