HONG KONG, June 2, 2008 (PRIME NEWSWIRE) -- Highway Holdings Limited (Nasdaq:HIHO) today announced it has received an initial order from a U.S.-based importer to produce approximately two million specialized plastic spreaders utilized in the application of a leading filler paste brand designed for the automotive and home repair market.
"This first order is valued at approximately $380,000, with expectations that it will be ongoing. It highlights the ability of our plastics operation to produce diverse products with simple and complex designs, as well as our ability to meet a wide range of volume requirements. Equally important, it reflects our continued success at attracting a broader customer base in the U.S. market -- an area with tremendous potential for our organization given the company's diverse manufacturing capabilities and vertical structure," said Roland Kohl, president and chief executive officer.
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. It also manufactures finished products, such as light fixtures, LED lights, radio chimes and other electronic products. Highway Holdings is headquartered in Hong Kong and operates four manufacturing facilities 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.