Page All:
Page 1
ACL Semiconductors Enters Memorandum of Understanding with Strategic Partner
-MOU positions ACL as the leading distributor of memory products in Asia-
HONG KONG, Feb. 13, 2012 /PRNewswire-Asia/ -- ACL Semiconductors (OTC Bulletin Board: ACLO) ("ACL"), the leading China-based distributor of Samsung memory electronic products in Southern China and Hong Kong, announced the establishment of a memorandum of understanding with an independent third party that is a successful trader and procurement network specialist of memory products. An acquisition is expected within 60 days upon the completion of a satisfactory due diligence exercise.
Alan Yang, Chairman and CEO of ACL, commented, "Asia's true potential is in its 3 'C' markets -- computer, consumer electronic appliances and communications. ACL Semiconductors is well equipped with the knowledge and reserves to tap this potential as the economies of China and India continue to grow. This memorandum of understanding is the first step in propelling ACL from being the leading distributor of Samsung memory components in Southern China and Hong Kong to the leading Samsung distributor in Asia."
ACL Semiconductor plans to fuel growth in 2012 through, "organic and inorganic growth strategies," added Mr. Yang. "Organic growth strategies include business development techniques that grow a company via increased output and larger sales volume, while inorganic growth strategies include mergers, acquisitions, and takeovers of competitors and complementary businesses."
"In any strategic move, our team at ACL strives to be both consistent and cautious in our reserves and gearing. Shareholders' interests are being placed in the first priority," Mr. Yang stated.
About ACL Semiconductors Inc.
ACL Semiconductors distributes electronic components under the "Samsung" brand name to the Hong Kong and South China markets. The memory chips are used in everything from mobile phones, digital cameras and laptop computers to MP3 players and Wi-Fi products. For more information about ACL Semiconductors please visit ACL Semiconductors' corporate website at http://www.acl-semicon.com.
Forward-Looking Statements
This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings.
Investor Contacts:
Kun Lin Lee Joseph Villalta
Chief Financial
Officer The Ruth Group
ACL
Semiconductors
Inc. +1-646-536-7003
+1-408-981-9363 jvillalta@theruthgroup.com
+852-3666-9939
klee@atlantic.com.hk
SOURCE ACL Semiconductors Inc.
ACL Semiconductors Inc.
Web Site: http://www.acl-semicon.com
ACL Semiconductors Enters Memorandum of Understanding with Strategic Partner
-MOU positions ACL as the leading distributor of memory products in Asia-
HONG KONG, Feb. 13, 2012 /PRNewswire-Asia/ -- ACL Semiconductors (OTC Bulletin Board: ACLO) ("ACL"), the leading China-based distributor of Samsung memory electronic products in Southern China and Hong Kong, announced the establishment of a memorandum of understanding with an independent third party that is a successful trader and procurement network specialist of memory products. An acquisition is expected within 60 days upon the completion of a satisfactory due diligence exercise.
Alan Yang, Chairman and CEO of ACL, commented, "Asia's true potential is in its 3 'C' markets -- computer, consumer electronic appliances and communications. ACL Semiconductors is well equipped with the knowledge and reserves to tap this potential as the economies of China and India continue to grow. This memorandum of understanding is the first step in propelling ACL from being the leading distributor of Samsung memory components in Southern China and Hong Kong to the leading Samsung distributor in Asia."
ACL Semiconductor plans to fuel growth in 2012 through, "organic and inorganic growth strategies," added Mr. Yang. "Organic growth strategies include business development techniques that grow a company via increased output and larger sales volume, while inorganic growth strategies include mergers, acquisitions, and takeovers of competitors and complementary businesses."
"In any strategic move, our team at ACL strives to be both consistent and cautious in our reserves and gearing. Shareholders' interests are being placed in the first priority," Mr. Yang stated.
About ACL Semiconductors Inc.
ACL Semiconductors distributes electronic components under the "Samsung" brand name to the Hong Kong and South China markets. The memory chips are used in everything from mobile phones, digital cameras and laptop computers to MP3 players and Wi-Fi products. For more information about ACL Semiconductors please visit ACL Semiconductors' corporate website at http://www.acl-semicon.com.
Forward-Looking Statements
This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings.
Investor Contacts:
Kun Lin Lee Joseph Villalta
Chief Financial
Officer The Ruth Group
ACL
Semiconductors
Inc. +1-646-536-7003
+1-408-981-9363 jvillalta@theruthgroup.com
+852-3666-9939
klee@atlantic.com.hk
SOURCE ACL Semiconductors Inc.
ACL Semiconductors Inc.
Web Site: http://www.acl-semicon.com