SETO news:
(COMTEX) B: SETO Holdings, Inc. Announces 25% Increase in Cell Phone
B: SETO Holdings, Inc. Announces 25% Increase in Cell Phone Battery Production
BRIARCLIFF MANOR, N.Y. (March 29) BUSINESS WIRE -March 29, 1999--Seto
Holdings, Inc. (OTCBB: SETO) Mr. Pian, SETO's President, reported that
FUJI Fabrication Sdn Bhd, a wholly owned subsidiary of SETO HOLDINGS,
Inc. has received its first battery pack production order for the new
Samsung SGH-600 cellular phone just introduced to the market 2 weeks
ago.
"We have ramped up very quickly on this new battery pack and are
already in production," stated Mr. Pian. "Additional orders have
already been received for this new battery pack that will increase
production output by 25% starting April 99."
FUJI Fabrication has over three years of battery manufacturing
experience and has already passed valuation and test requirements to
major distributors for replacement batteries for such major companies
as Ericsson (NASDAQ: ERICY), Nokia (NYSE: NOKa), Motorola (NYSE: MOT),
NEC (NASDAQ: NIPNY), and others. As a leading manufacturer of a full
range of battery packs for cellular phone batteries, and soon to add
notebook computers, camcorders and OEM solutions: FUJI offers superior
quality and services in line with increasing demands in the global
market. In addition, FUJI has selected the worlds leading cell
manufacturers such as Sanyo Electric (NASDAQ: SANYY), Sony (NYSE: SNE),
Toshiba and Panasonic to use in the development and production of FUJI
batteries.
In a recent Press Release (dated March 1, 1999) Mr. Pian, SETO's
President, announced plans to form a separate marketing entity focusing
on direct sales of cellular phone batteries manufactured by its wholly
owned subsidiary, FUJI Fabrication Sdn Bhd, Malaysia for an E-Commerce
web site which is currently under development
(http://www.setoholding.com/fuji/index.html)
Mr. Pian said, "We are very confident that this will be a huge success
for SETO for three important reasons, the first is the in-house
manufacturing on the batteries in a low cost labor area, second is the
recently announced duty and tax free advantages that reduced our
manufacturing costs and the third reason is the long term experience
(since 1975) of warehousing and distribution of many products through
our ECS subsidiary based in New York."
SETO HOLDINGS, Inc., formerly Semicon Tools Inc. has been a public
Company since 1987 and operates as a broad based technical manufacturer
in two major product groups. Technical product to industry: inclusive
of diamond tools, wafer fab supplies and technical ceramics. Consumer
products: cellular phone batteries. SETO also manufacturers slider
plates for Seagate Technology, Inc. (NYSE: SEG-news) the world's
leading independent maker of storage drives for computers.
"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 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
fillings.
-0- jl/ny*
CONTACT: Investor relations:
LA GUARDIA, GFS, 800/292-1361
comercio@doscomercios.com
Company web site: www.setoholding.com
email: stiandecs@aol.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED TELECOMMUNICATIONS
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Internet
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