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I have been watching this one for awhile and today it made the turn IMO. These guys have an awesome management team in place and with the China auto market exploding, this one IMO returns back to a buck per share. No dilution since the crash and they are busy bringing in new contracts.
Seems like a steal at the current levels.
Very low float and wouldn't take much to get this one back to a buck.
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DIAS Holding Sees Inevitable Recovery in Its World Market Revenues as Chinese Automotive Industry Continues to Experience Rapid Growth -- Comments on Quarterly Report DIAS Holding Sees Inevitable Recovery in Its World Market Revenues as Chinese Automotive Industry Continues to Experience Rapid Growth -- Comments on Quarterly Report
ALLEN PARK, MI -- (Marketwire) -- 08/27/09 -- DIAS Holding, Inc. (OTCBB: DSHL), owner of Asia Forging Supply (AFS), which has a decade long record of success as a one-stop supplier for the automotive and other industries, today said it expected to see an "inevitable recovery" in world market revenues to near "pre-automotive market crash levels" as its last quarterly report has demonstrated a quarter on quarter improvement in total sales. DIAS Holding's sales topped $14.4 million in 2008 before turmoil in the world auto sector caused the company to experience what it now believes was a temporary slowdown in total revenues.
DIAS Holding's subsidiary, AFS, manages outsourced procurement of finished and semi-finished components and sub-assemblies from China and elsewhere in Asia. Its Detroit International Auto Salon subsidiary, in the heart of North America's auto industry, allows Chinese and other Asian companies to display capabilities and to quote manufacturing orders to original equipment manufacturers (OEMs) in the US.
Dias noted its most recent quarter has demonstrated a quarter on quarter improvement in revenues and illustrated growth in sales from new product releases to existing customers. The company anticipates the US Government's "Cash for Clunkers Program" has added new requirements for OEMs to restock to meet desirable inventory levels at dealerships in the US auto market.
Eric Huang, Chairman and CEO of Dias Holding, Inc., stated, "We are seeing an influx of new companies with requests for quotes, which are quickly developing into expanded opportunities for DIAS Holding to meet the demand generated by what appears at this stage to be a rapid market recovery. We are also experiencing the opportunity to quote on new projects with existing customers that appear to be very interested in BEST COST COUNTRIES and the ever increasing new capabilities being developed by the Asian Auto Supply Manufacturing Sector."
Mr. Huang added, "With predicted annual sales for the Chinese Automotive Industry of $350 billion in the year 2015, DIAS is in an unparalleled position to facilitate business relationships which will strengthen our import / export opportunities to substantiate and provide support for what are increasingly demanding global automotive industry requirements."
About 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 www.diasholding.com.
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.
For more information, contact: Paul Knopick E & E Communications (949) 707-5365 Email Contact
Source: Marketwire (August 27, 2009 - 9:00 AM EDT)
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