This one priced pretty high but for info, here it is - in bold is the impact date.
biz.yahoo.com
Dii Group to Support Expansion of China Set-Top Box Initiative
NIWOT, Colo., June 23 /PRNewswire/ -- The Dii Group, Inc. (Nasdaq: DIIG - news), today announced that its operations in the People's Republic of China are supporting its partner, DVB Holdings Limited (HK Stock Exchange Listed #500), in two significant expansions of its digital video offerings.
(Photo: newscom.com ) . Dii will provide TV set-top boxes to support DVB Holdings in a new initiative to utilize digital delivery technology to provide educational materials to schools throughout China. . Dii will manufacture ''web boxes'' needed within China to support DVB Holdings' new subsidiary, SilkOnNet.com Co. Ltd., in its efforts to launch an Internet-based, Chinese content media service in September.
In addition to the video program announced in March (see press release dated March 23, 1999), DVB has reached agreement to utilize its digital delivery technology to provide educational materials developed by the China Youth Development Foundation, or Project Hope, China's largest charity organization devoted to elevating the quality of education in mainland China. Project Hope has developed various educational content video tutorials, documentaries and children's movie rights. Multek China will provide printed wiring boards, and Dovatron China will provide printed circuit board assembly, box build and distribution of the TV set-top boxes for DVB, which will be used for video digital delivery of educational materials as well as Internet access to about 40,000 schools. It is estimated that over 100,000 set-top units will be delivered over the first 3 years of the focused initiative. Initial deliveries are expected in September.
Ming Liu, Director of the Audio Video office of Project Hope, said: ''This project is the China Youth Development Foundation's most significant project to prepare our children for the 21st century. We are delighted to be associated with DVB, whose management team has developed strong relationships with numerous governmental units in the PRC. These relationships have enabled DVB to get exclusive licenses to deliver video materials throughout China. For example, digital delivery of the materials developed by Project Hope was approved by five government units: the Department of Propaganda; the Ministry of Culture; the Ministry of Education; the State Administration of Radio, Films and Television; and the State Bureau of Press and Publication.''
SilkOnNet.com Co. Ltd also plans to launch its web media service in September. The service will serve the Chinese-speaking market globally with its offerings of video-on-demand of both newly released and existing Chinese movies, tutorial educational video material, real-time financial information and trading, access to Chinese national libraries, entertainment, sports news, e-commerce, weather, and other applications.
Commenting on the new DVB initiatives, C. Y. Cheong, president of Dii Group Asia, commented: ''These new initiatives should accelerate and increase the demand for set-top boxes, as well as spur demand for higher-end 'smart boxes' that allow two-way communication with the Internet. The Dii Group will supply most of these set-top boxes in China from our large manufacturing campus in Zhuhai, Guangdong Province.''
This press release contains historical information and forward-looking statements. Statements looking forward in time involve risks and uncertainties, including risks associated with customer concentration, dependence on the electronics industry, economic conditions, the successful integration of newly acquired businesses and other risks associated with acquisitions, changes in product mix, competition, and international operations. For further information, reference should be made to the Dii Group's filings with the Securities and Exchange Commission, including the company's ''Management's Discussion and Analysis of Financial Condition and Results of Operations'' included in the company's most recent Annual Report on Form 10-K.
The China Youth Development Foundation, founded in 1989, is a social organization dedicated to enhancing the educational system in China. Since its founding, it has raised over 2 billion Chinese Renminbi, which have been used to build 16,000 schools in China's impoverished areas and to sponsor over 2 million children back to school. The China Youth Development Foundation has also built the Sunchime Content Library with over 1,000 titles of video education content and has established conventional Hope Libraries in many of China's schools.
DVB Holdings (HK Listing No. 500), formerly known as Capetronic International Holdings Limited, is a Hong-Kong based electronics company. DVB serves as systems integrator in a project to provide end-to-end digital video platform solutions for value-added services on existing networks. Its turnover for 1998 was HK$850 million.
The Dii Group, Inc. (Nasdaq: DIIG - news) is a leading, value-added electronics design and manufacturing service provider, which operates through a global network of companies in North America, Europe, and Asia. The company serves the electronics industry through its core competencies: design and semiconductor services; printed wiring boards; and systems assembly and distribution, which includes circuit board assembly and box build. The Dii Group employs approximately 8,000 people and had revenues of $926 million in fiscal 1998. Its Internet (Web) Site can be reached by accessing ''www.diigroup.com'' to view recent press releases, company information, and financial data relating to the Dii Group.
SOURCE: The Dii Group, Inc. |
