(BSNS WIRE) Production Orders and Direct Sales Commence to Consumers in Mai
Production Orders and Direct Sales Commence to Consumers in Main Land China Via
SETO Holdings, Inc. Subsidiary
Business Editors
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--March 27, 2000--SETO
Holdings, Inc. (OTCBB:SETO) today announced that it has commenced with
production and direct sales to consumers via the FIMAS Electronic
plant in Suzhou China near Shanghai, a subsidiary of SETO Holdings,
Inc.
The first two products to be distributed are a "set top box" which
is a direct Internet connection via a standard television. The second
product is a Philips Electronics (NYSE:PHG) brand name speaker sound
system. SETO Holdings, Inc. expects that these initial orders may
generate up to $1 million dollars in revenues for the Company.
Gene Pian, CEO of SETO Holdings, Inc. commented, "Distributing two
products for the Chinese consumer has great profit potential for SETO.
Even more exciting is the fact that one of our new products allows
Internet access without requiring a computer for a market of 1.3
Billion people. This is an immense opportunity for SETO's penetration
in this market."
"We are extremely pleased to have been able to enter this market
with two significant product lines. In addition, we have another
strategic advantage over other companies trying to penetrate into the
Chinese consumer market. Because we are a Chinese manufacturer selling
to China, SETO has obtained duty free status for products sold to
local consumers, thus increasing our profit margins even more."
About SETO Holdings, Inc.
Founded in 1975, SETO Holding, Inc. 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; and Consumer products such as cellular phone
batteries, rechargeable batteries for uses, consumer electronics and
telecommunication devices. Please visit the Company's web sites:
www.SETOHOLDINGS.com, www.stdiamond.com, www.ecsceramics.com,
www.fujifab.com, www.hk-batteries.com.hk, and www.cticomm.com.my .
Included in this release are "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Although the company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations reflected in such forward-looking statements
will prove to have been correct. The company's actual results could
differ materially from those anticipated in the forward-looking
statements as a result of certain factors including sales levels,
distribution and competition trends and other market factors.
--30--bc/ch*
CONTACT: R.F. Services, Inc.
Renee Fisher, 888/882-8383 or 714/220-2900
email: rfpres@hotmail.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: HARDWARE NETWORKING TELECOMMUNICATIONS
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