VANCOUVER, CANADA -- May 16, 2001 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today announced the successful doubling of the front end production process for LCD panels. The new production line has successfully completed its pilot run testing and is ramping up mass production. As a result total LCD panel production capacity will increase by 74% by September. To accommodate the increased production levels the Company has leased an additional 43,500 square feet of manufacturing space in an adjacent building.
Nam Tai is pleased with LCD panel operations and growth and expects to benefit from future synergies as LCD panel is a critical component in most products manufactured for Nam Tai customers.
Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world’s leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules for cellular phones, lithium ion rechargeable battery packs, transformers and LCD panels. The Company utilises advanced production technologies such as chip on board (COB), chip on glass (COG), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai’s website at www.namtai.com.