Peak International Enters Wafer Shipper Market
November 06 2007 - 7:30AM
PR Newswire (US)
HONG KONG, Nov. 6 /PRNewswire-FirstCall/ -- Peak International
Limited (NASDAQ:PEAK), a market leader in plastics design,
engineering, production and supply chain solutions, today announced
it has delivered its first UltraCare(TM) wafer carrier product, the
300 mm wafer shipper. The company expects several more wafer
shipper products will be introduced throughout 2008 under the
UltraCare(TM) brand. "The delivery of this order represents an
important step in our strategic plan to more broadly diversify our
product offerings, as well as the number of industries that we
serve," said Dean Personne, Peak's president and chief executive
officer. "We believe our entry into the wafer shipper market holds
great promise for future growth, and each of our industry product
groups continue to make great strides as we build a reputation as
the preferred choice in precision engineered plastics. We're
receiving positive feedback from the market, and we're excited that
these efforts are now coming to fruition." Peak International
contracted with Global Precision, Inc. nearly a year ago to design,
market, and sell products specifically engineered for the wafer fab
market. The 300 mm wafer shipper is now available for volume
distribution with several other products nearing design and
development completion. To prepare for these volume shipments, Peak
recently completed its second cleanroom manufacturing facility to
meet the requirements of producing disk drive, wafer processing and
medical engineered plastics. The company has started on a third
cleanroom manufacturing area conversion to meet expected future
demand. Peak's entry into the wafer shipper market and its
investment in building industry leading cleanroom operations are
the result of the company's commitment to broadly diversify its
products and customer base. Interest from the semiconductor
industry continues to build upon the recent introduction of
UltraLite(TM) designs. Members of the disk drive organization are
solidifying existing relationships and showcasing the company's
leading cleanroom operations. Peak's new medical industry
initiative is receiving early interest from leading medical product
companies and companies from the automotive, energy and consumer
electronics industries have also been showing increased interest
for Peak's precision engineered plastic solutions. Peak recently
attained ISO/TS 16949 certification required for shipments into the
automotive industry. With offices in Hong Kong, manufacturing
facilities in Shenzhen, the PRC, and distribution centers
worldwide, Peak offers products and manufacturing capabilities
already used by some of the world's largest companies for high-
speed, automated manufacturing processes that require dimensional
stability and precision tolerances. Peak has substantial
manufacturing capacity, tooling and design expertise and a
worldwide footprint to support even the toughest JIT requirements.
The company currently offers semiconductor, disk drive, wafer fab,
consumer electronic, and medical products to some of the world's
largest companies. About Peak International Limited Peak
International Limited (http://www.peakinternational.com/) is a
leading supplier of precision-engineered packaging products for
storage, transportation and automated handling of disk drive
components, semiconductor devices, wafer fab products as well as
precision medical products. There are approximately 1,400 people
who work directly or indirectly for Peak worldwide and its
headquarters are in Hong Kong with major manufacturing operations
in Shenzhen, the PRC, which is operated pursuant to a processing
partner agreement with an unaffiliated party. Peak operates
warehouses throughout the world and offers JIT services to some of
the world's largest disk drive and other companies. Cautionary Note
Regarding Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the "safe harbor"
provision of the Private Securities Litigation Reform Act of 1995,
including, without limitation, statements related to the Company's
ability to: increase revenues through diversification into other
industries, develop substantial new revenues from wafer products
including products that have not yet been developed, maintain and
enhance our reputation as a preferred vendor, and successfully
market and generate revenues from UltraLite(TM) products. These and
other forward-looking statements are not guarantees of future
results and are subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
the forward- looking statements. Such factors include but are not
limited to: price of raw materials, factors relating to conditions
in semiconductor, disk drive, wafer fab, electronics and other
industries, the amounts the Company may have to pay for workers at
the PRC factory operated by a third party, difficulties related to
working in the PRC, including regional government and processing
partner relations, the market acceptance of its products, the
introduction of new products by the Company's competitors, any
future economic downturn, and other matters that could cause actual
results to differ materially from the projections made herein.
Additional risks are detailed in the Company's filings with the
Securities and Exchange Commission, including the Company's
Quarterly Reports on Form 10-Q and Annual Report on Form 10-K filed
on June 29, 2007. Statements included in this press release are
based on information known to the Company as of the date of this
release, and the Company assumes no obligation to update or revise
any forward-looking statements or to update the reasons why actual
results could differ from those projected in any forward-looking
statement in this release. Contacts: John Supan Lytham Partners,
LLC Chief Financial Officer Joe Diaz Peak International Limited,
Hong Kong Joe Dorame +852-3193-6000 Robert Blum (602) 889-9700
DATASOURCE: Peak International Limited CONTACT: John Supan, Chief
Financial Officer of Peak International Limited, Hong Kong,
+852-3193-6000; or Joe Diaz, or Joe Dorame, or Robert Blum, all of
Lytham Partners, LLC, +1-602-889-9700, for Peak International
Limited Web site: http://www.peakinternational.com/
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