Seto Holdings, Inc. Announces a New Joint Venture Company in Hong Kong, "SETO
Technology Hong Kong Industries Ltd"
Business Editors
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--September 27,
1999--SETO Holdings, Inc.(OTC BB:SETO) announced today the start up of
a new joint venture with Everscreen Company Limited (Hong Kong Battery
Limited) as partners to manage a local SETO Holdings, Inc. office in
Hong Kong for sales, distribution and marketing of all SETO product
lines with the main focus on batteries.
Mr. Pian, SETO's President is pleased to announce that Thomas TO
Jin Kwong, will head up the Hong Kong operations. Mr. Thomas TO is
presently the CEO of Hong Kong Battery and Director of Everscreen
Company. Both companies are well known and established as
manufacturers and distributors in the electronic component and battery
industries. In his announcement Mr. Pian stated, "Mr. Thomas TO's 15
year history in these industries with a long term customer base and
supplier network in Hong Kong, mainland China, and in fact the Asian
community will prove invaluable in this venture."
He also said, "the support SETO Technology Hong Kong Industries
LTD which will be managed by MR. Thomas TO and his professional staff
is important for the success of the new SETO Holdings, Inc.
acquisition of Huanyu Power Source Company Ltd. on main land China.
This presence in Hong Kong will also be a big help to increase
products for the fujifab web site on the SETO E MALL e-commerce site.
Other possible joint ventures and acquisitions are already being
considered and reviewed through the contacts of Thomas To."
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SETO HOLDINGS, Inc., formerly Semicon Tools Inc. has been a
public Company since 1987 and operates as a broad based technical
manufacturer in two major product groupings:
Technical products to industry: inclusive of diamond tools, wafer
fab supplies and technical ceramics.
Consumer products: cellular phone batteries.
"Safe Harbor" statement under the Private securities Litigation
Reform Act of 1995 Statements contained in this release which are not
historical facts are forward looking statements that involve risks and
uncertainties that could cause actual results to differ from projected
results. Factors that could cause actual results to differ materially
include, among others, economic and political events in or effecting
Malaysia, the Company's dependence on the semiconductor industry and
other risk factors detailed in the Company's Securities and Exchange
Commission filings.
--30--cf/ny*
CONTACT: Investor Relations:
LaGuardia GFS call at toll free
1-800-292-1361
or email to: comercio@riogrande.net.com
LaGuardia GFS web site:
www.TwoTrades.com or www.DosComercios.com
Company web site:
www.SETOHOLDINGS.com, www.stidiamond.com
www.ecsceramics.com or www.fujifab.com
email: stiandecs@aol.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
TELECOMMUNICATIONS
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