Highway Holdings Receives OEM Tooling Order for Plastic Components From
Leading U.S. Printer Company
Complements Its Existing Relationship as Metal Components Supplier
HONG KONG, Dec. 9, 2013 (GLOBE NEWSWIRE) -- Highway Holdings Limited
(Nasdaq:HIHO) today announced it has received three tooling orders designed to
produce plastic components for printers offered by a leading U.S. printer
"This new additional business represents an expansion of an OEM relationship
that has evolved since 2007. We are gratified by the confidence of our
customer in the company's quality and capabilities and look forward to further
opportunities to expand our valued-relationship," said Roland Kohl, president
and chief executive officer of Highway Holdings.
Kohl noted that the commencement of plastic component production represents a
significant strategic opportunity to expand the relationship with this
prestigious customer, which to date has only utilized Highway Holdings' metal
component manufacturing services. "We are now well-positioned to leverage our
established metal parts supplier relationship to expand and become a leading
plastic parts supplier for this customer in the near future. This is
particularly significant since the plastic components business is much larger
than metal components and the opportunities for future growth much greater,"
About Highway Holdings
Highway Holdings produces a wide variety of high-quality products for blue
chip original equipment manufacturers -- from simple parts and components to
sub-assemblies and finished products.Highway Holdings' administrative offices
are located in Hong Kong, and its manufacturing facilities are located in
Shenzhen in the People's Republic of China.
Except for the historical information contained herein, the matters discussed
in this press release are forward-looking statements which involve risks and
uncertainties, including but not limited to economic, competitive,
governmental, political and technological factors affecting the company's
revenues, operations, markets, products and prices, and other factors
discussed in the company's various filings with the Securities and Exchange
Commission, including without limitation, the company's annual reports on Form
CONTACT: Gary S. Maier
Maier & Company, Inc.
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