MISSISSAUGA, Ontario, June 17, 2010 (GLOBE NEWSWIRE) -- Winscon Electronics Co. Ltd., ("Winscon") a Delaware Corporation (OTCQB:WIEC) announced today that the Company has entered into a Letter of Intent, dated May 4, 2010, with Uniwell Electronics Ltd.,("Uniwell") a Hong Kong Corporation specializing in electronic circuit boards. Details of the LOI specify that, upon satisfactory due diligence, Winscon will acquire 100% ownership of all the shares and assets of Uniwell.
Winscon (Huizhou) specializes in the manufacturing of flexible printed circuits used in electronic devices; such as cellular phones, MP3 players, portable hard drives, digital cameras, medical equipment and on-board automotive computers for many technology manufacturers including LG (Korea), Molex (USA), Logitech (Taiwan) and 3C (Taiwan).
About Uniwell Electronics Ltd.
Uniwell Electronics Ltd. is an established manufacturer of printed circuit boards for all electronic devices and applications. The company's products are manufactured by a workforce of over 500 employees working at facilities located inside mainland China. Uniwell has recorded consistent growth over the past 21 years with reported global sales of US$46 million in 2008.
Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the company's business include, but are not limited to, fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the company's SEC reports.