SHANXI PROVINCE, China, July 27, 2007 (PRIME NEWSWIRE) -- Shiming U.S., Inc. (OTCBB:SGUS), a consumer electronics maker based in China, announced today that it is undertaking significant technological upgrades to its liquid crystal display (LCD) production lines in order both to meet market demands for the company's products and to maintain the company's competitive edge.
Once fully implemented, the technology improvements will enable the company to increase its production of LCD panels for automobiles to 700,000 units per year. In addition, the company will be able to assemble eighth-generation LCD panels, containing the latest technological advances in the industry. The company is estimating the cost for the initial phase of the upgrades at three million dollars, with complete implementation sometime in September of this year.
"The strong demands for our LCD panels since the second fiscal quarter of 2007 have guided our decision to increase our manufacturing capacity," said the company's Chief Executive Officer, Shiming Wang. "At the same time, we are continuing to position the company as a leader in our industry once the production line for the eighth-generation LCD is fully operational."
About Shiming U.S., Inc.
Shiming U.S., Inc. is a consumer electronics company with a particular focus on the development and manufacture of competitively priced LCD products, including HDTV and computer monitors. Shiming's manufacturing plant is located in the Changxin High and New Technology Industrial Garden in Shenzhen, China. For several years we have been involved in the research and development of consumer electronics products and technologies such as LCD, plasma displays, and household electronics.
Cautionary Statement Regarding Forward Looking Information
This press release contains forward-looking information about Shiming that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and Shiming's future performance, operations and products.
This forward-looking information should be considered only in connection with Shiming's quarterly report on Form 10-Q filed with the SEC on May 15, 2007, and its other current and periodic reports filed with the SEC. Shiming assumes no obligations to update any forward-looking statements or information set forth in this press release.