Deswell Industries, Inc. Announces Significant New Customer Epson Precision Hong Kong Ltd.
biz.yahoo.com
HONG KONG--(BUSINESS WIRE)--October 29, 1999--Deswell Industries today announced that it is currently working with Epson Precision Hong Kong Ltd. to provide plastic injection, tooling and assembly services to Epson's printer division.
Deswell commenced a formal relationship with Epson in August and the business has grown to be approximately 5% percent of Deswell's total sales. Management is confident that the volume of business with Epson should double within the next six months based on current indications from the customer.
Epson is a mutli-national corporation, with a new manufacturing plant located near Deswell's Jetcrown subsidiary in Shenzen. Epson employs 6,000 people at their new plant and manufactures various products.
Mr. Richard Lau, Chief Executive Officer of Deswell Industries, said, ''We are very excited to be working with Epson, a large and established company with extremely high quality standards. Furthermore, we are encouraged about the prospect of increased future business with Epson and look forward to a long-term relationship with Epson.''
The Company also announced that it will announce the second quarter results in the week of November 8, 1999.
Deswell manufactures injection-molded plastic parts and components and electronic products and subassemblies and metallic products for original equipment manufacturers (''OEMs'') and contract manufacturers at its factories in the People's Republic 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''), and pin-through hole (''PHT'') 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 Industrial (H.K.) Limited, Namtai Electronics (Shenzhen) Co. Ltd., Inter-Tel Incorporated, Behringer Holdings (Pte) Ltd. and VTech Communications Ltd. To learn more about Deswell Industries, Inc., please visit the Company's web site at www.deswellindustries.com. |
