DIAS Holding, China Auto Parts And Accessory Corporation, Detail Numerous Agreements to Strengthen Their Alliance (PR Newswire)
Mon, 15 Jun 2009 09:00:00 Etc/GM
The two companies, in recent meetings in China, agreed to:
- CAPAC will serve as a DIAS sourcing center in China, playing an active role in assisting DIAS to source more products from China in the Northern American automobile and other markets.
- CAPAC also will serve as a marketing and sales arm for DIAS in China, assisting in the recruitment of more qualified Chinese suppliers to visit Detroit.
- Both companies will co-host more activities, including auto parts shows, professional forums and classic car shows.
- DIAS will serve as CAPAC's sourcing center in the U.S. for importing high tech products and services to China. DIAS will also serve as CAPAC's sales office in America for their qualified auto parts and accessories, which are used globally.
- The companies will co-host a prayer breakfast in Detroit on August 15th. Prayer will focus on the recession in Detroit and elsewhere in the U.S. and the impact of last May's devastating earthquake in China. Zhou Ming, one of China's most well known actors, will host the event.
CAPAC is a fully owned subsidiary of the China National Machinery Industry Corporation. It is headquartered in Beijing and more than 100 interlocking auto parts manufacturers are represented by CAPAC. These companies are predominantly located in China's auto parts production base in Guanngzhou, Zhejiang, Jiangsu, Hunan and Hubei provinces and in Beijing.
About the DIAS Holding, Inc.:
DIAS Holding, Inc. services the multi-billion dollar industry of providing automotive, trucking, railway and petroleum industries with raw, finished and assembled components. The Company's major subsidiaries include Asia Forging Supply Company, a prime contractor for a network of factories throughout Asia, and the Detroit International Auto Salon, the largest independent, year-round exhibition center for automotive products. For more information about DIAS Holding, Inc., please visit www.diasholding.com.
Forward-Looking Statement
This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of U.S. Federal Securities Laws. These include, among other things, statements about expectations of future transactions or events, revenues, sales of products and performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to complete the transactions, which remains subject to a due diligence review by both parties, obtaining any regulatory approvals, having necessary financing in time to meet contractual obligations, developing appropriate strategic alliances, raising working capital, building a functional infrastructure, and other such risks as the company may identify and discuss from time to time. Accordingly, there is no certainty that the company's plans will be achieved.
For more information, contact:
Paul Knopick
E & E Communications
(949) 707-5365
pknopick@eandecommunications.com
source: http://biz.yahoo.com/prnews/090615/la31373.html?.v=1