SOURCE: DIAS Holding, Inc.

November 20, 2008 13:09 ET

Sales Top $12 Million Through Third Quarter for DIAS Holding, Inc.

ALLEN PARK, MI--(Marketwire - November 20, 2008) - DIAS Holding, Inc. (OTCBB: DSHL) filed its 10-Q report to the SEC, and announced today that sales through the third calendar quarter topped $12 million. "We expect to top our 2007 sales," stated Sara Wang, CFO of DIAS Holding. According to audited financial statements, the company recorded $14.5 million in sales for 2007. "Despite encountering expediting costs in the third quarter caused by last-minute contract surcharge negotiations, our AFS subsidiary has performed well," she said.

"We expect our business mix that is weighted towards our aftermarket customers, position us well despite the downturn in the U.S. automotive market," commented Jack Jiang, Vice President for AFS operations. "People tend to keep their cars longer in difficult times, such as in a recession. The majority of our North American deliveries this year go to our customers who fill the spare parts pipeline," he added. " Furthermore, even with difficulties in the U.S. automotive market, AFS has begun to receive customer forecasts for 2009 that we believe is the start of our North American customer backlog next year," Mr. Jiang concluded.

The 10-Q report cites several cooperative agreements and partnerships established this year with the company and its Detroit International Auto Salon -- from Wayne County, containing Detroit Metro International Airport, and most of the Detroit metropolitan area, to the Hubei Provincial Mechanical and Automotive Promotions Center (China). "We are excited about our strong relations and connections to the manufacturers in China and Taiwan," stated Eric Huang, Chairman and CEO of DIAS Holding. "The central government, through their recent economic stimulus package, reinforces their manufacturing bases, so we will continue to see not only strong sources of supply for export, but also opportunities to engage them with a higher technological content," summarized Eric.

"With the current slump in the automotive market, a lot of companies and corporations are looking for new and positive solutions; DIAS has the means to provide the connections that will allow strategic partnerships and resources to be developed. Lowering costs and showcasing new and innovative products are just a few of the services that are being sought from both customers and suppliers alike," stated Michael Wesney, President of Detroit International Auto Salon.

About the DIAS Holding, Incorporated:

DIAS Holding, Inc. ("DIAS") is a Delaware Corporation servicing 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.

Contact Information

  • For more information, contact:

    DIAS Holding Investor Relations
    Michael Wesney
    Email Contact
    (313) 928-1272