DIAS Holding Notes Significant Growth by China in Supplying the World's Auto Manufacturers
-- Proof that DIAS Business Strategy is Sound --
ALLEN PARK, Mich., June 23 -- DIAS Holding, Inc. (OTC:DSHL) (BULLETIN BOARD: DSHL) , owner and operator of an International Auto Salon, with 300,000 square feet of exhibition space for Asian companies to display their abilities as component resources, and Asia Forging Supply (AFS), maintaining a decade long record of success as a one-stop supplier for the auto and other industries, today said it noted with significant interest a recent Wall Street Journal report that said "the stars are aligning for Chinese companies once considered too inexperienced to supply global car makers."
DIAS Holding's subsidiary, AFS, manages outsourced procurement of finished and semi-finished components and sub-assemblies from China and elsewhere in Asia. Its Auto Salon in the heart of North America's auto industry allows Chinese companies to display their abilities and more than 100 manufacturers have already exhibited at the year-round facility. DIAS Holding's sales topped $14.4 million in 2008.
Ms. Tian Ya-mei, Vice President, China Auto Parts and Accessories Corporation, a strategic partner and automotive service provider since 1983, said it will use DIAS Holding's marketing skill, especially in the product areas of braking systems, sensors, electrical assemblies and auto accessories. DIAS Holding maintains a number of strategic agreements with large scale automotive parts organizations and associations in the major automotive manufacturing centers in China.
The Wall Street Journal article said that Chinese auto suppliers, whose products have risen in quality and sophistication, is emerging as the world's No. 1 market for light vehicles. It quoted experts predicting China's car-parts industry will grow to about $350 billion by 2015 and said it expects China to deliver a 5 to 10 percent sales growth this year, displacing Japan as the largest vehicle manufacturer.
The article also said that China's thousands of parts suppliers produce virtually every component including more sophisticated areas such as suspension parts.
"This article, which emphasizes how Chinese operations are poised to increase their share of the business, is excellent proof that DIAS Holding is following a very sound business plan for its future, and for its shareholders," said DIAS Chairman and CEO Eric Huang.