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HONG KONG, May 23, 2013 (GLOBE NEWSWIRE) -- Highway Holdings Limited (Nasdaq:HIHO) today announced it received a multi-year order for vacuum cleaner components valued at approximately $400,000 per year from a leading international appliance manufacturer.
Production has already commenced, and an initial order of approximately three million components has been delivered to the customer for vacuum cleaner kits that require nine different plastic parts manufactured by Highway Holdings.
"We are gratified by this leading OEM's confidence in our capabilities and quality and look forward to additional opportunities to work together," said Roland Kohl, president and chief executive officer of Highway Holdings.
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 20-F.
CONTACT: Gary S. Maier
Maier & Company, Inc.