HONG KONG, April 24, 2012 /PRNewswire-Asia/ -- ACL Semiconductors Inc. (OTC Bulletin Board: ACLO) ("ACL"), the China-based distributor of semiconductor products in Southern China and Hong Kong, has issued the following letter to shareholders from the Chairman of the Board and CEO, Mr. Chung-Lun Yang.
Dear Shareholders,
ACL continues to aggressively seek opportunities in the Asian market to broaden the ACL business model with higher margins, innovative products and an expansion of our geographic footprint. We believe the three recently proposed transactions fit within this strategy and offer excellent vehicles to position ACL for the future. We are diversifying our platform and will no longer predominantly be a distributor business with a major focus on one brand. We are developing into a diversified, more vertically integrated company; spanning manufacturing, design, and distribution. Our strong presence across mainland China, combined with a state-of-the-art electronic components distribution platform, will better position the Company to withstand the industry pressures that we experienced in 2011. I will briefly outline the three transactions and the strategic opportunities they present for ACL:
In closing, these transactions exemplify our strategic objective to strengthen and diversify our semiconductor product platform for 2012 and beyond. We remain optimistic about the overall market prospects as we believe the semiconductor market is on track to resume growth by the second half of 2012. The enterprise spending cycle will continue to expand throughout 2012, and the launch of Microsoft Windows 8 for tablets and ultrabooks is expected to drive demand for computing platforms. Smartphone penetration should accelerate with the growth of lower-cost devices in emerging markets such as China, India and Southeast Asia. Datacenter and storage is projected to grow in order to support cloud-based applications, and anticipated growth in data traffic will drive more investments in networking and computing infrastructure. According to the research manager at IDC, double-digit growth is projected for consumer devices such as media tablets and eReaders in 2012.
We deeply appreciate your faith in our ability to make 2012 a year of transformation and growth.
Yours sincerely,
Mr. Chung-Lun Yang
Chairman of the Board and Chief Executive Officer
About ACL Semiconductors Inc.
In 2011, ACL Semiconductors Inc. distributed electronic components under the "Samsung" brand name to the Hong Kong and South China markets. The semiconductor products are used in everything from mobile phones, digital cameras and laptop computers to MP3 players and Wi-Fi products. Starting April 1, 2012, ACL is distributing the Samsung semiconductor products through ATMD, a newly established joint venture with Tomen Devices. For more information about ACL Semiconductors Inc. please visit ACL Semiconductors' corporate website at http://www.acl-semicon.com.
Forward-Looking Statements
This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings.
Investor Contacts:
Kun Lin Lee | Stephanie Carrington / Chris Genualdi | |
Chief Financial Officer | The Ruth Group | |
ACL Semiconductors Inc. | +1-646-536-7017/7032 | |
+1-408-981-9363 | ||
+852-3666-9939 | ||