DIAS Holding, Inc. Successful in Maintaining Revenue Levels for 2008 at AFS
ALLEN PARK, MI--(MARKET WIRE)--Feb 10, 2009 -- DIAS Holding, Inc. (OTC BB:DSHL.OB - News ) announced today that preliminary results for 2008 indicate that Asia Forging Supply Co. Ltd ("AFS"), the wholly-owned subsidiary of DIAS Holding, Inc., had revenues that were fairly consistent with 2007 revenues. DIAS Holding reported consolidated sales of almost $14.6 million in 2007. Despite the global down turn in automotive sales in 2008, AFS was successful in maintaining its sales levels. AFS, headquartered in Taiwan, is a one-stop supplier and is represented globally with sales and service locations in over 14 countries and 4 continents. In spite of the weakening automotive market in America, AFS anticipates a growth in sales for 2009.
Sara Wang, CFO of AFS and its parent company DIAS Holding, Inc., stated, "The major part of our sales came from aftermarket auto parts, service parts and the 'tuner' market. Under the current global economic situation, customers will be more likely to buy those parts to maintain their current cars rather than buying a new one."
"We are quite happy and satisfied with our preliminary 2008 sales results in AFS and expect that 2009 sales may increase in spite of the economic recession. We have built up a reputation among our customers for quality and price and we look forward to servicing them in these difficult times," said Eric Huang, Chairman of DIAS Holding, Inc.
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