Universal Electronics Inc. (UEI) (Nasdaq:UEIC) today announced that its wholly owned subsidiary, UEI Brasil Controles Remotos Ltda. has met an impressive milestone in manufacturing having delivered its 10 millionth remote control.
Formed September 1, 2010, UEI Brasil Controles Remotos Ltda. was started as a small assembly and warehouse facility with less than 20 employees, and has now grown to encompass a 20,000 square foot full-service manufacturing plant with over 130 employees.
UEI Brasil Controles Remotos Ltda. is an ISO-9001 certified factory focused on delivering locally-produced remote controls for the growing Latin American market.
“Latin America is one of our key growth regions and our teams supporting and developing the opportunities there have been great!” said Paul Arling, Chairman and CEO of Universal Electronics. “I am confident we will continue to keep pace with our customers’ needs in the region and build long lasting relationships there.”Expanded product offerings and a growing customer base have continued to fuel production increases in the region with major customers in broadcasting and consumer electronics. With the predicted growth in TV viewership from the upcoming Olympic Games and FIFA World Cup soccer events to be hosted in Brazil, UEI Brasil Controles Remotos Ltda.’s future looks bright. The full-service manufacturing facility in the region will continue to bring additional product technologies and capabilities, and expanded facilities to meet these new market growth opportunities. About Universal Electronics Founded in 1986, Universal Electronics Inc. (UEI) is the global leader in wireless control technology for the connected home. UEI designs, develops, and delivers innovative solutions that enable consumers to control entertainment devices, digital media, and home systems. The company’s broad portfolio of patented technologies and database of infrared control software have been adopted by many Fortune 500 companies in the consumer electronics, subscription broadcast, and computing industries. UEI sells and licenses wireless control products through distributors and retailers under the One For All® brand name. For additional information, visit our website at www.uei.com. Safe Harbor Statement This press release contains forward-looking statements that are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, delivery and market acceptance of the Company’s products and technologies; the continued growth of the Company’s customer base in Brazil and other Latin American territories, including those in broadcasting and consumer markets, the ability of our manufacturing facility in Brazil to meet the demand anticipated by management, and other factors described in the Company’s filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward looking statement due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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