SOURCE: DIAS

September 24, 2009 09:00 ET

DIAS Holding, Inc. Subsidiary Forms Strategic Alliance Partnership With China's Ningbo Auto Mall

Milestone Agreement Calls for Detroit International Auto Salon and Ningbo Auto Mall to Cooperate on Customer and Supplier Referrals

ALLEN PARK, MI--(Marketwire - September 24, 2009) - DIAS Holding, Inc. (OTCBB: DSHL), announced today that its Detroit International Auto Salon (DIAS) subsidiary has signed a strategic alliance partnership agreement with Ningbo Auto Mall (NAM), one of China's largest business to business (B to B) auto parts manufacturing sourcing centers. The agreement resulted from a recent trip to Ningbo by DIAS Chairman and CEO Eric Huang and calls for the two companies to cooperate on OEM customer and supplier referrals.

DIAS Holding CEO Eric Huang commented, "This is a major milestone for DIAS. We are very excited to have formed this partnership with NAM. NAM is one of China's largest B to B auto parts supply centers and will extend our service capabilities by a healthy margin. It is a perfect marriage. With DIAS and NAM combined together, both companies will be able to offer customers a more efficient service at extremely competitive price points."

Mr. Huang added, "The old sourcing routine of attending three to four day auto parts shows is eventually going to become a thing of the past. Today's auto manufacturing OEM customer requires year round access to information and parts. It has been the vision of both DIAS and NAM to offer an effective solution to this requirement in a 'one stop shopping' environment. This new strategic partnership with NAM will increase the strength of DIAS significantly. It allows us to offer our customers a larger number of suppliers and more robust product lines. It is anticipated that the agreement should result in a larger customer base for our company and stronger growth for DIAS in the future."

About Ningbo Auto Mall:

China's Ningbo Auto Mall was established in 1997 and has become a landmark in the Ningbo area. The company's vision is to become an international destination for OEMs of auto parts and auto accessories. Unlike most auto malls in China, which were created mainly for retail business, NAM's target customer is the auto parts manufacturing professional.

About 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 nation's largest independent, year-round exhibition center for automotive products. For more information about DIAS Holding, Inc., please visit: http://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
    (313) 928-1254