CCSC Technology International Holdings Limited Announces Plan for New Supply Chain Management Center in Central Europe
16 May 2024 - 10:00PM
CCSC Technology International Holdings Limited (the “Company” or
“CCSC”) (Nasdaq: CCTG), a Hong Kong-based company that engages in
the sale, design and manufacturing of interconnect products,
including connectors, cables and wire harnesses, today announced
that the Company plans to commence construction of a new Europe
supply chain management center (the “Center”) located
in Municipality of Merosina, Republic of Serbia (“Serbia”), in
August 2024. The 50,000-square-meter facility will
be CCSC’s first supply chain center project and is
scheduled for completion in 2025. Once completed, it will serve as
the headquarters of the Company's supply chain operations in
Europe.
To further optimize production efficiency and
boost synergy, in February 2024, CCSC formed a new subsidiary, CCSC
Technology Doo Beograd, in Belgrade, Serbia. This subsidiary will
be responsible for the operations of our new Europe supply chain
management. The Company plans to adopt modern automation solutions
and three-dimensional storage technology to optimize the use of the
storage space, and leverage the latest digital technologies to
build a smart supply chain management platform at the Center. The
facility will serve as a key integrated supply chain transit hub,
supporting the Company's operations across Europe.
This project is fully supported by the Merosina
government, with a signed memorandum of understanding marking the
collaboration between CCSC Technology Doo Beograd and the
Municipality of Merosina. The total investment for the Center is
estimated at US$6 million.
Mr. Kung Lok Chiu, Chief Executive Officer and
Director of the Company, commented, "As part of our on-going
strategic plan, we will continue to widen our strategic moat by
investing in supply chain infrastructure to further enhance the
agility and resiliency of our business. We believe our new Center
will better support our business by driving long-term growth. This
initiative is also crucial in our endeavors to become a leader in
the interconnect products market. We are committed to adopting the
most advanced technologies, developing replicable and scalable
solutions, and fostering innovative ideas and products."
About CCSC Technology International
Holdings Limited
CCSC Technology International Holdings Limited,
is a Hong Kong-based company that engages in the sale, design and
manufacturing of interconnect products. The Company specializes in
customized interconnect products, including connectors, cables and
wire harnesses that are used for a range of applications in a
diversified set of industries, including industrial, automotive,
robotics, medical equipment, computer, network and
telecommunication, and consumer products. The Company produces both
OEM (“original equipment manufacturer”) and ODM (“original design
manufacture”) interconnect products for manufacturing companies
that produce end products, as well as electronic manufacturing
services (“EMS”) companies that procure and assemble products on
behalf of such manufacturing companies. The Company has a
diversified global customer base located in more than 25 countries
throughout Asia, Europe and the Americas. For more information,
please visit the Company’s website:
http://ir.ccsc-interconnect.com.
Forward-Looking Statements
Certain statements in this announcement are
forward-looking statements, including, but not limited to, the
Company's proposed Offering. These forward-looking statements
involve known and unknown risks and uncertainties and are based on
the Company’s current expectations and projections about future
events that may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
find many (but not all) of these statements by the use of words
such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “is/are likely to,”
“propose,” “potential,” “continue”, or other similar expressions in
this press release. The Company undertakes no obligation to update
or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company’s
registration statement and other filings with the U.S. Securities
and Exchange Commission.
For more information, please
contact:
CCSC Technology International Holdings
LimitedInvestor Relations DepartmentEmail:
ir@ccsc-interconnect.com
Ascent Investor Relations
LLCTina XiaoPhone: +1-646-932-7242Email:
investors@ascent-ir.com
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