The new factory, occupying a total of 15,000 square feet, was initially designed to produce an annual capacity of 8 million lithium ion cell phone batteries. Lisun Power, a wholly owned subsidiary of Industries International, has significantly increased its original output and this new facility is aimed to cope with the increasing demand from the southern China market.
“Lithium ion cell phone batteries account for 41% of Lisun Power's total income and business is continuing to grow very quickly. Since 2000, we have expanded our cell phone battery facility 3 times. The new factory will immediately increase our cell phone battery production capacity by at least 70%”
"Lithium ion cell phone batteries account for 41% of Lisun Power's total income and business is continuing to grow very quickly. Since 2000, we have expanded our cell phone battery facility 3 times. The new factory will immediately increase our cell phone battery production capacity by at least 70%," said Dr. Kit Tsui, Chairman and Chief Executive Officer of Industries International.
Dr. Tsui continued, "The Zhu Jiang Delta, with Shenzhen and Guangzhou as two of its center points, is one of the hottest economic areas in China. It gathers nearly 80% of China's raw material suppliers for cell phone batteries. By establishing a branch factory here, we are able to reduce our raw material purchase cost by at least 10-15%. What's more, a great portion of our cell phone battery clients are actually located in the Shenzhen area. Thus we will eventually be able to reduce our marketing expenses for cell phone batteries by an estimated 5%. It is worth noting that with our lower costs and improved delivery, more competitive prices and stronger service can well be expected to bring an increase in market share and total sales. Most important of all, our close proximity to our clients and market will help our ability to market changes and sustain our long term development."
About Industries International
Industries International Incorporated is comprised of two wholly-owned subsidiaries. Its wholly-owned subsidiary, Broad Faith Limited, is engaged in the development, production and distribution of communications terminal products, mainly corded and cordless telephones which are sold under the trademark Wondial(TM) throughout China. Its other wholly-owned subsidiary, Li Sun Power International Limited, engages in the manufacturing of lithium and lithium-ion batteries and testing equipment for chemical composition and functioning of batteries. For further information, please visit the Company's website at www.industriesintl.com.
Safe Harbor Statement -- This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.
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