This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Highway Holdings Receives Approval From European Customer To Utilize Myanmar Operations For Manufacturing

HONG KONG, Nov. 25, 2013 (GLOBE NEWSWIRE) -- Highway Holdings Limited (Nasdaq:HIHO) today announced it has received approval from one of its leading European Fortune 500 customers for assembly manufacturing of one series of electric synchronous motors at the company's subcontracting facility in Myanmar.

Assembly production, which was approved following extensive testing and quality control evaluation, has commenced and finished products are being shipped directly to the customer's factory in Germany.

"The assembly of these motors in Myanmar complements our component manufacturing operation in China and enables us to realize meaningful cost-savings and a competitive advantage, while maintaining the highest quality standards. We appreciate our customer's confidence in our capabilities and support; and, we are gratified that this more than 10-year relationship continues to flourish," said Roland Kohl, chairman, president and chief executive officer of Highway Holdings.

Kohl noted he expects the customer's entire line of synchronous motors will be assembled in Myanmar by September 2014, at the latest. He added that this is Highway Holdings' second major customer to utilize its capabilities in Myanmar, with strong expectations that additional businesses will transition assembly work to the company's operation in this country to take advantage of the significant cost benefits.

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.
         (310) 471-1288

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs