VANCOUVER, CANADA -- September 29, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced plans to increase the production capacity of flexible printed circuit (“FPC”) sub-assemblies for cellular phones. In response to a growing demand of FPC sub-assemblies for cellular phones, Nam Tai will increase its production capacity of FPC sub-assemblies for cellular phones by 100% in November 2003. The production capacity increase will be made possible by installing two additional production lines at the end of October 2003. To date, Nam Tai has two production lines for FPC sub-assemblies for cellular phones, to produce its own FPC sub-assemblies at customers’ specifications in-house.
As announced in May 2003, Nam Tai has invested $4.2 million for FPC sub-assemblies production lines and started to penetrate into the FPC market by producing its own FPC sub-assemblies for customers. Since then, Nam Tai has received a great response for manufacturing FPC sub-assemblies from its customers.
“We are very pleased to see the growing demand of FPC sub-assemblies for cellular phones,” said Mr. Tadao Murakami, Chairman of Nam Tai. “FPC sub-assemblies are used in nearly every imaginable type of electrical and electronic product, which represents one of the fastest growing interconnection product segments in the industry. With our FPC sub-assemblies production lines, we believe that Nam Tai will benefit from continued growth and increasing applications of FPC sub-assemblies.”
A FPC sub-assembly is a patterned arrangement of printed wiring utilizing flexible base material with or without flexible cover layers. It is lighter, smaller, more reliable and easier to install than traditional wiring. It can be bent, folded, or shaped into interconnect in multiple planes or conform to specific package sizes. The production of FPC sub-assemblies requires advanced assembling technologies and equipment. With its unique advantages in electronic packaging, FPC sub-assemblies can be found in nearly every type of electronic product, from simple toys and games up to highly sophisticated electronic instrumentation found in space hardware.
About Nam Tai
We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, radio frequency modules, and image sensors. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones.
Certain statements in this press release are "forward-looking statements" within the meaning of U.S. federal securities laws. Nam Tai intends that these statements be covered by the safe harbors created under these laws. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Many of these factors are beyond Nam Tai's ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements, which only speak as of the date of this press release. Nam Tai does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.