HONG KONG (April 15, 1999) - Deswell Industries, Inc. (NASDAQ NM Symbol: DSWLF) today announced that effective at the opening of trading on The Nasdaq Stock market today, the Company's shares will be traded under the new NASDAQ symbol DSWL (NASDAQ: DSWL). The Company's shares are presently traded under the symbol DSWLF.
The Company also announced that it has expanded the production capacity of its plastics molding operations. Deswell's plastics molding subsidiary, Jetcrown Industrial Ltd., has leased an additional 20,000 square feet of manufacturing space in Shekou, Shenzhen, adjacent to the existing factory. The newly leased space will be used to accomodate the increasing customer demands for our plastic molding products.
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 customers include Mita Industrial (H.K.) Limited, Namtai Electronics (Shenzhen) Co. Ltd., Inter-Tel Incorporated, Behringer Holdings (Pte) Ltd., VTech Communications Ltd. and Shakespeare (H.K.) Limited. To learn more about Deswell Industries, Inc., please visit the Company's web site at www.deswellindustries.com.
John Nesbett, ext. 303