TAIPEI, July 28 /PRNewswire-Asia-FirstCall/ -- Asia Pacific Wire & Cable
Corporation Limited (OTC Bulletin Board: AWRCF) ("APWC" or the "Company"), a
leading manufacturer of wire and cable products for the telecommunications and
electric-power industries in selected Asia-Pacific markets, today announced
that one of its Thai subsidiaries, Siam Fiber Optics, Co, Ltd. ("SFO"), has
signed several major contracts with local companies and state-owned
telecommunication companies for a total value of Baht 592 million
(approximately $18.4 million). These contracts include:
-- A THB 185 million ($5.7 million) contract with Marubeni Thailand Co.,
Ltd. to deliver 5,650 km of fiber-optic cable over a seven-month period
through October 2010;
-- A THB 121 million ($3.8 million) contract to deliver 2,794 km of
fiber-optic cable to TOT Public Company Limited, a state-owned
telecommunications company, which commenced in May 2010 and would run
for four months; and
-- Two contracts from Thai Transmission Industry Co., Ltd. to provide
4,130 km ADSS & 4,324 km Dropwires of fiber-optic cables in an effort
to link the telecommunication network for all the domestic universities
in Thailand totaling THB 258 million (approximately $8.0 million) over
approximately 14 months, the first of which commenced in January 2010.
Siam Fiber Optics Co., Ltd. is 60% owned by Charoong Thai Wire and Cable
Co., the latter is 51% directly or indirectly owned by APWC. The other three
non-controlling interest parties own rest of the 40% of Siam Fiber Optics Co.,
Ltd.
Asia Pacific Wire and Cable Corporation is pleased by the strong demand
for the telecommunications products in Thailand and optimistic about
experiencing a continued recovery in our business. These contracts represent a
healthy pipeline and stable growth in our telecommunications-cable business.
The Company expects to see continued strong demand for our wire and cable
alongside the expansion of telecommunications and electrical infrastructure in
the growing Asia-Pacific region.
About Asia Pacific Wire & Cable Corporation
Asia Pacific Wire & Cable Corporation is a leading manufacturer and
distributor of telecommunications and power cable and enameled wire products
in the Asia Pacific region, primarily in Singapore, Thailand, Australia and
China. For more information on APWCC, visit http://www.apwcc.com . Information
on the Company's Web site or any other Web site does not constitute a portion
of this release.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the
business of the Company and its subsidiary companies. These forward looking
statements are often identified by the use of forward-looking terminology such
as "believes, expects" or similar expressions. Such forward looking statements
involve known and unknown risks and uncertainties that may cause actual
results to be materially different from those described herein as anticipated,
believed, estimated or expected. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date of this
press release. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic reports that are
filed with the Securities and Exchange Commission and available on its website
(www.sec.gov). All forward-looking statements attributable to the Company or
to persons acting on its behalf are expressly qualified in their entirety by
these factors other than as required under the securities laws. The Company
does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Asia Pacific Wire & Cable Corporation Limited
Mr. Frank Tseng, CFO
Phone: +886-2-2712-2558 x66
Email: frank.tseng@apwcc.com
Web: http://www.apwcc.com
Investor Relations Contact:
CCG Investor Relations
Mr. John Harmon, Senior Account Manager
Phone: +1-646-833-3424 (New York)
Email: john.harmon@ccgir.com
Web: http://www.ccgir.com
SOURCE Asia Pacific Wire & Cable Corporation Limited
