DIAS Holding, Inc.(fka DSHL)

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DIAS Holding Strengthens Strategic Alliance With Major Chinese Auto Parts Center
Last update: 5/26/2009 5:00:00 AM
ALLEN PARK, Mich., May 26, 2009 /PRNewswire-FirstCall via COMTEX/ -- DIAS Holding, Inc. (DSHL), owner and operator of the Detroit International Auto Salon (DIAS), with 300,000 square feet of exhibition space for Asian companies to display their abilities as component resources, and Asia Forging Supply, maintaining a decade long record of success as a one-stop supplier for the auto and other industries, today announced that it has reached agreement with Guangzhou Auto Parts and Accessory Sourcing Center (APAC) in China to upgrade their current strategic alliance.
Similar to DIAS, APAC () is creating a new and successful, technically advanced auto parts sourcing center that assists international buyers to find even the most advanced auto parts and accessories within its planned 5 million square feet facility. Its Chairman, Zhang Ke Qiang, is very well known both as a businessman and a government official. "Through our partnership, we can combine the strength and resources to create a win-win situation and bright future," stated Mr. Zhang.
"The strategic agreement we signed with APAC will help both promote DIAS in China and allow Chinese suppliers to visit Detroit for DIAS' year-long exhibition opportunities. We are combining our strengths and resources to create the most comprehensive offering of Tier 1, 2 and 3 products in the automotive capitals of Detroit & Guangzhou," said Eric Huang, DIAS Holding Chairman and CEO.
"APAC's location in Guangzhou is also vitally important, since it has become the number one production region in China and millions of people attend automotive and auto parts exhibits there," Mr. Huang said. "DIAS will promote APAC in the U.S. and APAC will promote DIAS in China. Our business concepts, strategies and vision are similar and we are confident this collaborative effort will yield significant business for both firms."
About the 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 largest independent, year-round exhibition center for automotive products. For more information about DIAS Holding, Inc., please visit .
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.