SETO HOLDINGS INC - New Designed Multi Media Speaker System - To be Manufacturedin China and Sold Under the Brand Name SETO
Tue Aug 08 15:08:00 EDT 2000
New York, New York, Aug. 08, 2000 (Market News Publishing via COMTEX) -- SETO
Holdings, Inc. announced that the Suzhou SETO Electronics Ltd. China, has a
newly designed Speaker and is in the final stages of completion of the molds for
production for the first "SETO" brand Multi Media Speakers to the retail markets
in China and South Africa.
Orders have already been received from distributors in main land China and South
Africa. Shipping is expected to start in September 2000. The order for the
"SETO" brand Multi Media Speakers is 30,000 units per month with revenues over
$1 million per month, which is forecast to be reached during last quarter 2000.
With the present utilization of the Suzhou SETO factory at only 25 percent,
there is more then enough room for additional immediate growth with two more
assembly lines already in place at the existing facility that are now being
prepared for the increase in production. Also having local government officials
as partners with an additional 22 adjacent acres available next to our present
facility for expansion as required, gives SETO plenty of room for growth, said
Gene Pian, SETO's President.
New products for assembly and distribution are being planned at the Suzhou SETO
Electronics facility for the China market that is scheduled for introduction
towards the end of this year. As we anticipate China receiving WTO status in the
near future, Suzhou SETO Electronics is preparing and will be ready to be part
of the increased growth expected worldwide with our main focus in main land
China. |
