SEYI (SHIEH YIH MACHINERY) Strengthens Its Management Team with Two New, Key Additions

Elaine Wu joins SEYI as its CFO and Michael Madden joins as the Company's President of SEYI-America

TAIPEI, Aug. 23, 2011 /PRNewswire-Asia/ -- SEYI (SHIEH YIH MACHINERY) (4533 TT), one of the world's leading producers of mechanical presses, announced two key additions to its management team. The Company named Elaine Wu as Chief Financial Officer and Michael Madden as President of SEYI America. The CFO position is a new one at SEYI, while the position of President of SEYI-America has remained vacant since July 2009 when Ms. Claire Kuo, Chief Executive Officer, returned to Taipei to head the company.

Ms. Wu brings substantial experience to the CFO position at SEYI. After receiving an undergraduate degree at Fu Jen University in Taiwan and an MBA from Memphis State University in the United States, Ms. Wu worked for fifteen years with AT&T and Lucent Technologies in Taiwan, gaining broad experience in financial and treasury management and exposure to financial best practices at companies that are among the largest and most sophisticated in the world. In her most recent position at Lucent Technologies Taiwan, Ms. Wu oversaw the 2006 merger of the Taiwanese operations of Lucent and Alcatel.

Prior to joining SEYI, Ms. Wu served for three years as the CFO and Spokesperson for Chilisin Electronics Corporation, a publicly traded company on the Taiwan Stock Exchange.

At SEYI, Ms. Wu will be responsible for all aspects of financial management, including treasury management, general and cost accounting, budget planning, tax reporting and financial analyses at the Company's headquarters. Ms. Wu will report to Ms. Claire Kuo, CEO.

After receiving a Bachelor of Science degree in Marine Engineering from California Maritime Academy, and an MBA from U.C. Berkeley, Mr. Madden has gained over twenty year's experience in sales and business development, primarily with technology oriented companies. For the past five years, Mr. Madden has been the Manager of Industry Development, responsible for establishing new accounts in Southern California, for California Manufacturing Technology Consulting, a provider of manufacturing and consulting services. AtCMTC, Mr. Maddendeveloped and executed a strategy to penetrate a record number of new automotive accounts.

Mr. Madden will be based in California and will be responsible for expanding SEYI's sales and strengthening the company's distribution network in the North America including Canada, United States and Mexico. He will report to Ms. Claire Kuo, CEO.

"I am very pleased to have Ms. Wu and Mr. Madden on board as we continue to grow and expand the Company," Ms. Claire Kuo, Chief Executive Officer, remarked. "The additions of Ms. Wu and Mr. Madden adds considerable management depth and will enable me to focus on the strategic development of SEYI and the creation of shareholder value," Ms. Kuo added.

SEYI reported strong earnings in the first quarter of 2011 and the addition of its new facility, Kunshan II, will enable the Company to expand into automotive, providing significant new growth opportunities in China.

About SEYI

Founded in 1962, SEYI has established a position of global leadership in the press building industry over the past 48 years. SEYI manufactures mechanical presses, ranging in size from 25 to 2400 tons, at facilities located in Taiwan and Mainland China. At its original location in Taoyuan, Taiwan, SEYI operates a 12,500 square meter facility, and in 2003 the Company began production in Mainland China at an 11,000 square meter facility located in Kunshan, Jiangsu Province. Combined production capacity at the Taoyuan and Kunshan plants approaches 4,000 presses annually.  Construction of a second 11,000 square meter facility in Kunshan was completed in 2009 and began production in 2011. The new facility in Kunshan will manufacture up to 300 presses annually, ranging in size from 300 to 4,000 tons. SEYI products have been sold to customers in over 40 countries around the world, and the Company is the dominant foreign supplier to Mainland China, India, South East Asia and the Americas in terms of volume.  SEYI is the recipient of numerous quality awards from around the world.

The Company completed an initial public offering of its common stock in 2002 and is traded on the Taiwanese OTC (4533 TT) market.