DIAS Holding, Inc.(fka DSHL)

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Sales Top $12 Million Through Third Quarter for DIAS Holding, Inc.
Thursday November 20, 1:09 pm ET


ALLEN PARK, MI--(MARKET WIRE)--Nov 20, 2008 -- DIAS Holding, Inc. (OTC BB:DSHL.OB - News) 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.

http://biz.yahoo.com/iw/081120/0454609.html