SETO Holdings, Inc. Announces Obtaining UL Approval for Batteries Exported to the USA Consumer Markets
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--Dec. 21, 1999--SETO Holdings, Inc.(OTC BB:SETO) announced today that Hong Kong Batteries Industries Ltd., a subsidiary of SETO, has received UL approval for batteries used in consumer items sold in major chain stores such as Walmart, K-Mart and others.
"Hong Kong Batteries, already an approved source to manufacturers in Hong Kong and China supplying products to many chain stores will give us an edge to become a substantial vendor indirectly to the USA major chain stores," Gene Pian, SETO's president said. He also stated, "This new business represents an increase in revenue of $1.2 million above the forecast for these two accounts alone for SETO Hong Kong Batteries in the year 2000. In addition, a new contract presently under negotiation to supply battery packs for Philips cordless phones to the European and Asian markets, is expected to be signed shortly, which will again increase SETO Hong Kong Batteries revenue for the year 2000."
Pian said, "A new battery powered product has been developed, tested and approved that also uses rechargeable batteries for the automobile, ATV, motorcycle, truck, jet ski, lawn tractor and other consumer products that is planned to be introduced to industry and consumers including SETO E Mall in March 2000."
SETO HOLDINGS, Inc. has been a fully reporting 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, rechargeable batteries for all uses, consumer electronics.
"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.
Contact for Investor Relations: LaGuardia GFS call at toll free 800/292-1361 or email to: comercio@riogrande.net.com GFS web site: www.TwoTrades.com
Company web sites: www.SETOHOLDINGS.com, www.stidiamond.com, www.ecsceramics.com, www.fujifab.com, www.hk-batteries.com.hk email: stiandecs@aol.com |
