Highway Holdings Receives New Product Tooling Orders and Excellent Supplier Award From Global Lighting Company
HONG KONG, Nov. 1, 2012 (GLOBE NEWSWIRE) -- Highway Holdings Limited (Nasdaq: HIHO) today announced it has received tooling orders for the manufacture of metal casings for a new series of electronic ECG ballasts and plastic casings for a new LED power supply series from Tridonic GmbH & Co KG, a long-time client. Initial mass production of the metal casing products has commenced and the tooling for plastic casings is in process. All of the tooling for this project is expected to be completed by the Chinese New Year on February 10, 2013. Additional terms were not disclosed.
The company also said it has received the Excellent Supplier Award for 2012 from Tridonic GmbH & Co KG in recognition of Highway Holdings' commitment to quality and service.
"The award and new product orders highlight Tridonic's confidence in our ability as a key OEM supplier and represents an opportunity to further expand our relationship with Tridonic that has evolved since 2000. We are gratified by Tridonic's confidence in our quality and capabilities, particularly since we previously only provided metal components and this plastic casing product line is entirely new for both companies," said Roland Kohl, president and chief executive officer of Highway Holdings.
Tridonic, based in Dornbirn, Austria, is a wholly owned subsidiary of the Zumtobel Group listed on the Vienna Stock Exchange. It is one of the leading manufacturers and suppliers of lighting control equipment in the world with strategic manufacturing operations located on three continents.
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. Additional information about Highway Holdings is available at www.highwayholdings.com.
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.