Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Nam Tai Elec. (NTAI) -- Ignore unavailable to you. Want to Upgrade?

To: lindalib who wrote (1571)	4/12/1999 4:04:00 PM
From: Dick Martin	Respond to of 1696

Nam Tai Electronics, Inc. Announces Update on Albatronics Restructuring VANCOUVER, British Columbia, April 9 /PRNewswire/ -- Nam Tai Electronics, Inc. (''Nam Tai'' or the ''Company'') (Nasdaq: NTAI - news and NTAIW - news) today announced an update on the restructuring of Albatronics (Far East) Company Limited (''Albatronics''), a 50% plus owned subsidiary of Nam Tai. On April 1, 1999 the Company, a majority of Albatronics' bankers and its major trade creditor signed a letter of intent to restructure Albatronics' unsecured bank debt and trade debt. Implementation of the terms of the letter of intent requires, among other conditions, acceptance by all of Albatronics' affected bankers. To date, two of Albatronics' bankers are not able to sign the letter of intent and they are requesting further discussions and negotiations. As Albatronics has severe cash flow problems and faces great difficulties it may be liquidated within a very short period of time if these remaining bankers do not sign the letter of intent. The Company is patiently waiting for their final decision. Nam Tai Electronics, Inc. is a consumer electronics design and manufacturing service provider to some of the world's leading original equipment manufactures. Products manufactured by Nam Tai include palm-sized PCs, personal digital assistants, linguistic products, calculators, smart card readers and various components which are used in telecommunication products, electronic toys, and household appliances. Further information is available from Nam Tai's web site at namtai.com.