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Tuesday March 28, 9:05 am Eastern Time
Company Press Release
Sony Corporation Places Order Through SETO Holdings, Inc. Subsidiary
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--March 28, 2000--SETO Holdings, Inc. (OTCBB:SETO - news) today announced that Sony Corporation's Electronics General Audio Division has placed an order with FIMAS Electronics, a subsidiary of SETO Holdings, Inc.
The initial product is for a Sony DiscMan control panel, in which initial quantities are presently 50,000 units per month. Sony Electronics General Audio Division expects these numbers to increase throughout the year, resulting in a forecast of 500,000 units per month by the end of 2000.
In addition to Sony Corporation (NYSE:SNE - news), FIMAS Electronics has agreements with Sharp-Roxy Corporation, ACER Technology, Inventec Electronics, Philips Electronics (NYSE:PHG - news) among others.
Gene Pian, CEO of SETO Holdings, Inc. commented, ``Once again our affiliation with our Electronics subsidiary has provided us with another potentially large revenue-generating contract with major industry player such as Sony Electronics. Not only does this contract provide SETO Holdings with more revenues, contracts such as this lend credibility to SETO in a highly competitive industry. The fact that we can fulfill these contracts successfully with quality products and on time will ensure our viability in this industry and we believe will lead to further contracts of this magnitude.'
About SETO Holdings, Inc.
Founded in 1975, SETO Holdings, 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.
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Contact:
R.F. Services, Inc.
Renee Fisher, 888/882-8383 or 714/220-2900
email: rfpres@hotmail.com |
