SETO NEWS...
Tuesday March 30, 1:45 pm Eastern Time
Company Press Release
SETO Holdings Announces Signing Agreements With Three Major Distributors to Sell DTI Diamond Jewelry Tools and Supplies in Vietnam, Philippines and Dubai/U.A.E.
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--March 30, 1999--SETO Holdings, Inc.(OTC BB:SETO)--Mr. Pian, SETO's President, said ''DTI Technology Sdn Bhd, a wholly owned subsidiary of SETO Holdings, Inc. New York, has signed agreements with three major distributors of jewelry diamond tools and supplies in the Philippines, Vietnam and Dubai/U.A.E., which includes all of the Mid East and North Africa.''
Mr. Khor Yee Koon, DTI Technology's newly appointed group marketing manager and Ms. Chia Lai Hoo a Director of DTI Technology have extensive technical experience selling diamond tools and supplies to the jewelry industry. Mr.Pian said that ''although the DTI diamond tool product line for the jewelry industry has not been a major revenue producer for SETO in the past, mainly because of other priorities and limited personnel, we now have the technical support and sales-distributor network in three key areas of SE Asia.''
Mr. Pian said, ''the jewelry manufacturing industry is a natural for DTI Technology because the manufacturing process for the diamond tool dressers we have been producing since 1983, is the same for the jewelry cutting tools and the manufacturing and fabrication methods of the casting items for gold and silver jewelry are the same as the Seagate and Read Rite slider plates, now being produced at DTI Technology.'' Mr. Pian also said, ''with the additional production capacity and sales support available in DTI for these products, we will aggressively pursue these markets.''
DTI Technology a wholly owned subsidiary of SETO Holdings, Inc. manufacturers slider plates for Seagate Technology (NYSE: SEG - news) and Read-Rite(NASDAQ: RDRT - news)
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 groupings:
Technical products: to industry: inclusive of diamond tools, wafer fab supplies and technical ceramics.
Consumer products: cellular phone batteries.
''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 that involve risks and uncertainties that could cause actual results to differ from projected results. Factors that could 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 filings.
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Contact:
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Company web site: www.SETOHOLDINGS.com
or: www.stidiamond. |
