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Technology Stocks : Deswell Industries (DSWL) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Bower who wrote (1182)	2/2/1999 10:24:00 AM
From: mod	Read Replies (1) \| Respond to of 1418

Deswell Industries, Inc. Expands Production Capacity of Its Plastics Molding Operations Business Wire - February 02, 1999 09:48 HONG KONG--(BUSINESS WIRE)--Feb. 2, 1999-- - Purchased Advanced Tool Making Machinery - Deswell Industries, Inc. (NASDAQ NM Symbol: DSWLF) today announced that the Company has expanded the production capacity of its plastics molding operations. Deswell's plastics molding subsidiary, Jetcrown Industrial Ltd., has entered into agreement with Polymide International Co., Ltd. to purchase two advanced "Makino" tooling machines for approximately US$700,000. These machines, a Graphite NC Milling Machine and a V55 A-15 Vertical Machining Center, are expected to be delivered by the end of March 1999. These machines can achieve remarkably higher efficiency in mold making and are nearly four times faster than normal machines under certain applications. Deswell is one of the few Hong Kong companies installing these machines. This expansion increases the capacity of our almost fully occupied mold-making division and is necessary to meet the ever-increasing customer requirements for high precision and high-speed production. Mr. Richard Lau, Chief Executive Officer of Deswell, said, "Despite the less than favorable economic environment, we continue to upgrade our machinery to fulfill the needs of customers, as well as to improve Deswell's efficiency and competitiveness in the marketplace." Deswell manufactures injection-molded plastic parts and components and electronic products and subassemblies and metallic products for original equipment manufacturers ("OEMs") and contract manufacturers at its factories in the People's Republic of China. The Company produces a wide variety of plastic parts and components used in the manufacture of consumer and industrial products; printed circuit board assemblies using surface mount ("SMT"), and pin-through hole ("PHT") interconnection technologies; and finished products such as telephones, telephone answering machines, sophisticated studio-quality audio equipment and computer peripherals. The Company's customers include Mita Industrial (H.K.) Limited, Namtai Electronics (Shenzhen) Co. Ltd., Inter-Tel Incorporated, Behringer Holdings (Pte) Ltd., VTech Communications Ltd., Prod-Art Company Limited and Shakespeare (H.K.) Limited. To learn more about Deswell Industries, Inc., please visit the Company's web site at www.deswellindustries.com. CONTACT: John Nesbett, ext. 303 212-838-3777