SETO Announced Today the Start Up of the New SMT Lines With Total Capacity TakenUp With Orders Valued At a Minimum of $100,000 in Revenue Per Month
Thu Aug 10 16:45:00 EDT 2000
BRIARCLIFF MANOR, N.Y., Aug 10, 2000 (BUSINESS WIRE) -- SETO Holdings, Inc.
(OTCBB-SETO) today announced that the SETO subsidiary Fimas Electronics, has
completed the installation of one of the new SMT assembly lines in a SETO
factory that was not being utilized.
Expansion into an additional factory to be purchased adjacent to the new lines
will increase the production areas to 10,000 sq ft.
All the production capacity for the new lines: (1) SMT (surface mount
technology) line with capacity of 32 million points and the (2) AI (automatic
insertion) line with capacity of 57.5 million points and (3) Radial line with
capacity of 27.7 million points, all quantities are per month, have been taken
up and secured with orders from SHARP-ROXY and TONGKAH ELECTRONICS, said Mr. Yap
Hun Kok, Managing Director of Fimas and Director of SETO.
The additional revenue generated from the new production lines is in excess of
$100,000 per month starting in the third quarter 2000. Due to the fact that the
customer supplies the materials and components the revenue is for labor and
profit only, which has profit margins higher then our normal contract assembly
operations said Gene Pian, the President, CEO of SETO.
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
industrial uses, consumer electronics and telecommunication devices. Please
visit the Company's web sites: www.SETOHOLDINGS.com, www.stidiamond.com,
www.ecsceramics.com, www.setoEmall.com, www.hk-batteries.com.hk.
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.
CONTACT: SETO Holdings, Inc., Briarcliff Manor
Thomas Fisher, Public Relations Manager, 914/923-5000
Fax: 914/923-6225
E-mail: stiandecs@aol.com / setofisher@aol.com
URL: businesswire.com
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