FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For: February 13, 2001;
February 12, 2001;
January 15, 2001;
December 18, 2000;
December 4, 2000;
November 15, 2000
NAM TAI ELECTRONICS, INC.
(Registrant's name in English)
Suite 4, 9/F, Tower 1
China Hong Kong City, 33 Canton Road
TST, Kowloon, Hong Kong
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: investor@namtai.com
WEB SITE: www.namtai.com
CONTACT: LORNE WALDMAN
NAM TAI ELECTRONICS, INC.
RAISES ANNUAL DIVIDEND FROM $0.36 TO $0.40
-- DIVIDENDS OF $0.10 TO BE PAID QUARTERLY --
VANCOUVER, CANADA February 13, 2001 -- Nam Tai Electronics, Inc. ("Nam Tai" or
the "Company") (NASDAQ/NM Symbol: NTAI and NTAIW) today announced that for the
eighth consecutive year it is increasing its dividend. The annual dividend will
increase to $0.40 per share for 2001 up from $0.36 per share in 2000. The
Company will pay quarterly dividends of $0.10 per share commencing with the
first quarter dividend to be paid on or before April 21, 2001 to shareholders of
record at the close of business on April 1, 2001.
ANNUAL GENERAL MEETING RECORD DATE
The Company will hold its Annual Shareholders Meeting on Friday, June 22, 2001
at 11:30 a.m. in San Francisco, California. The record date is May 1, 2001.
FOURTH QUARTER RESULTS ANALYST CONFERENCE CALL REPLAY
Shareholders, media, and interest investors who were not able to listen to
yesterday's Fourth Quarter Results Analyst Conference Call are invited to listen
to a replay of the call over the internet by clicking
http://www.videonewswire.com/NAM/021201/.
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, smart card readers 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 and anisotropic conductive
film ("ACF") heat seal technology. Further information is available from Nam
Tai's web-site at www.namtai.com.
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: investor@namtai.com
WEB SITE: www.namtai.com
CONTACT: LORNE WALDMAN
NAM TAI ELECTRONICS, INC.
Q4 SALES UP 60%, EPS UP 45% TO $0.16 VS. $0.11
2000 SALES UP 47%, EPS UP 109% TO $2.63 VS. $1.26
VANCOUVER, CANADA February 12, 2001 -- Nam Tai Electronics, Inc. ("Nam Tai" or
the "Company") (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today
announced unaudited results for the fourth quarter ended December 31, 2000. Net
sales for the fourth quarter of 2000 were a record of $61.3 million, an increase
of 60% compared to net sales of $38.3 million for the fourth quarter of 1999.
Operating income for the fourth quarter of 2000 increased to $1.8 million ($0.19
per share) compared to operating loss of $0.7 million ($0.08 loss per share) for
the fourth quarter of 1999. Adjusted net income, which excludes the impact of
amortization of goodwill and a loss on the sale of the remaining holdings in
Group Sense (International) Ltd., increased 227% to $3.3 million ($0.34 per
share) compared to $1.0 million ($0.11 per share) for the fourth quarter of
1999. Net income for the fourth quarter of 2000 increased 56% to $1.6 million
compared to $1.0 million for the fourth quarter of 1999. Basic and diluted
earnings per share for the fourth quarter of 2000 were $0.16 versus $0.11 for
the fourth quarter of 1999.
Net sales for the twelve months ended December 31, 2000 increased 47% to $213.7
million from $145.1 million for the twelve months of 1999. Operating income for
the twelve months of 2000 increased 26% to $10.5 million ($1.15 per share)
compared to operating income for the twelve months of 1999 of $8.3 million
($0.89 per share). Adjusted net income, which excludes the impact of
amortization of goodwill and a gain on the sale of holdings in Group Sense
(International) Ltd., increased 15% to $13.6 million ($1.50 per share) compared
to $11.8 million ($1.26 per share) for the twelve months of 1999. Net income for
the twelve months of 2000 increased 103% to $24.0 million compared to net income
of $11.8 million for the twelve months of 1999. Basic and diluted earnings per
share for the twelve months of 2000 were $2.63 and $2.56 compared to $1.26 and
$1.25 for the twelve months of 1999.
The Company continues to maintain a strong financial position, ending the fourth
quarter of 2000 with $5.77 of cash per share and approximately $15.90 of net
book value per share, based on 10,213,840 shares outstanding as at December 31,
2000. The Company, as at December 31, 2000, had a cash to current liabilities
ratio of 1.29, a current ratio of 2.96, a total assets to total liabilities
ratio of 4.53, approximately $58.9 million of cash and, even after the
acquisition of JIC, its year end net book value increased to $162.4 million up
from $125.6 million at December 31, 1999 and its employee count increased from
2800 to 5200.
FORWARD GUIDANCE
The Company guidance for revenue is $340 - $360 million in 2001 and $560 - $600
million in 2002.
Guidance for earnings per share is approximately $2.25 - $2.50 in 2001 and $3.20
- - $3.50 in 2002.
By diversifying into telecommunication products and components, including
cellular phone LCD modules and rechargeable battery packs, Nam Tai has surpassed
its guidance for 2000 sales ($170 - $190 million) and profit ($1.25 - $1.40 EPS)
even with a lower profit margin of 14.8%.
Nam Tai's sales have more than doubled, from $102 million in 1998 to $214
million in 2000. The Company expects this trend will continue, with growth in
sales and earnings forecasted to exceed 50% in both 2001 and 2002. The forecasts
are based on verbal commitments from customers, the increasing trend among
Japanese manufacturers to outsource manufacturing to China, and additional sales
from the Company's recent acquisition of the JIC Group of Companies.
Page 1 of 6
The Company is focused on expanding its business and increasing its market share
of components aimed at the cellular phone market. To facilitate this expansion
and satisfy market demand for LCD modules, the Company has ordered four chip on
glass ("COG") production lines, to be installed between February and the end of
April 2001, increasing the total number of production lines from five lines to
nine lines. The cost of all the necessary machinery, including fixtures, factory
re-layout, installation and other incidentals is approximately $10 million.
To provide additional capacity for 2002 sales forecasts the Company in November
2000 commenced construction of a five-storied, 138,000 square foot, electronics
factory building. It will house a new clean room for advanced COG and chip on
board machinery, room for additional surface mount technology ("SMT") production
lines, and office space for the research and development department at a
budgeted cost for building and equipment of $15 million. An additional 6.5 acres
of vacant adjacent land is reserved for future expansion. The Company's $58.9
million of cash on hand is sufficient to finance the Company's existing capital
expenditure plans.
FOURTH QUARTER RESULTS ANALYST CONFERENCE CALL
The Company will hold a conference call on Monday, February 12, 2001 at 10:00
a.m. Eastern Time for analysts to discuss the fourth quarter and year end
results and the outlook for 2001 with management. Shareholders, media, and
interested investors are invited to listen to the live conference over the
internet by clicking http://www.videonewswire.com/NAM/021201/ or over the phone
by dialing (612)-332-0637 just prior to its start time.
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, smart card readers and various
components including LCD modules for cellular phones, lithium ion rechargeable
battery packs, transformers and LCD panels. The Company utilizes 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 and anisotropic conductive
film ("ACF") heat seal technology. Further information is available from Nam
Tai's web-site at www.namtai.com.
Except for the historical information contained herein, matters discussed in
this press release are forward-looking statements. For example, the Company's
forward guidance for 2001 and 2002 sales, gross margins and earnings per share
guidance are forward-looking statements the results of which are uncertain and
dependant upon many factors including the level of overall growth in the
electronics manufacturing services ("EMS") industry, end-user demand,
competitive pressures, component constraints, technological obsolescence,
changes in general economic conditions, and currency fluctuations. Other factors
that might cause differences in these and the other forward looking statements,
include, but are not limited to, those discussed in the Company's reports filed
with the Securities and Exchange Commission from time to time, such as the
factors set forth in Item 1 "Description of Business - Risk Factors" in the
Company's Annual Report on Form 20-F for the year ended December 31, 1999.
Page 2 of 6
NAM TAI ELECTRONICS, INC.
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
FOR THE PERIODS ENDED DECEMBER 31, 2000 AND 1999
(In Thousands of US Dollars except share data)
Three months ended Twelve months ended
December 31 December 31
2000 1999 2000 1999
- ---------------------------------------------- ---------- ----------- ----------- -----------
Net sales $ 61,307 $ 38,283 $ 213,688 $ 145,054
Cost of sales 53,086 33,513 182,096 120,074
---------- ----------- ----------- -----------
Gross profit 8,221 4,770 31,592 24,980
Costs and expenses
Selling, general and administrative expenses 5,477 4,604 17,646 14,913
Research and development expenses 915 886 3,489 2,624
Non-recurring income - - - (848)
---------- ----------- ----------- -----------
6,392 5,490 21,135 16,689
---------- ----------- ----------- -----------
Income (loss) from operations 1,829 (720) 10,457 8,291
Gain on disposal of property,
plant and equipment - - 355 302
Interest income 736 839 3,300 3,330
Other income (loss) - net (1,487) (419) 10,033 (1,331)
Equity in (loss) income of affiliated companies (79) 886 (189) 1,146
---------- ----------- ----------- -----------
Income before income taxes and minority interest 999 586 23,956 11,738
Income taxes benefit 597 439 33 60
---------- ----------- ----------- -----------
Income before minority interest 1,596 1,025 23,989 11,798
Minority interest (2) - 12 -
---------- ----------- ----------- -----------
Net income $ 1,594 $ 1,025 $ 24,001 $ 11,798
========== =========== =========== ===========
Net income per share
Basic $ 0.16 $ 0.11 $ 2.63 $ 1.26
========== =========== =========== ===========
Diluted $ 0.16 $ 0.11 $ 2.56 $ 1.25
========== =========== =========== ===========
Weighted average number of shares (`000')
Basic 9,854 9,146 9,114 9,328
Diluted 10,097 9,336 9,375 9,417
Page 3 of 6
NAM TAI ELECTRONICS, INC.
CONSOLIDATED BALANCE SHEETS
AS AT DECEMBER 31, 2000 AND DECEMBER 31, 1999
(In Thousands of U.S. Dollars)
Unaudited Audited
December 31 December 31
2000 1999
- ---------------------------------------------------------------------------------------
ASSETS
Current assets:
Cash and cash equivalents $ 58,896 $ 54,215
Marketable securities 7,937 -
Accounts receivable, net 37,550 24,283
Inventories 27,172 10,901
Prepaid expenses and deposits 1,755 2,967
Income taxes recoverable 2,042 2,070
-------------- ---------------
Total current assets 135,352 94,436
Investments in affiliated companies 2,054 17,308
Property, plant and equipment, at cost 76,255 65,076
Less: accumulated depreciation and amortization (31,656) (20,359)
-------------- ---------------
44,599 44,717
Intangible assets - net 24,996 839
Other assets 1,369 1,447
-------------- ---------------
Total assets $ 208,370 $ 158,747
============== ===============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Notes payable $ 1,499 $ 6,949
Short term debt 24 -
Accounts payable and accrued expenses 40,224 25,504
Amount due to a related party 2,691 -
Dividend payable 904 718
Income taxes payable 442 -
-------------- ---------------
Total current liabilities 45,784 33,171
Deferred income taxes 34 8
Minority interest 188 -
-------------- ---------------
Total liabilities 46,006 33,179
Shareholders' equity:
Common shares 102 88
Additional paid-in capital 105,963 80,870
Retained earnings 56,304 44,566
Accumulated other comprehensive income (Note 1) (5) 44
-------------- ---------------
Total shareholders' equity 162,364 125,568
Total liabilities and shareholders' equity $ 208,370 $ 158,747
============== ===============
Page 4 of 6
NAM TAI ELECTRONICS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE PERIODS ENDED DECEMBER 31, 2000 AND 1999
(In Thousands of U.S. Dollars)
Three months ended Tweleve months ended
December 31 December 31
2000 1999 2000 1999
- ------------------------------------------------ ---------- ---------- ---------- ----------
CASH FLOWS FROM OPERATING ACTIVITIES
Net income $ 1,594 $ 1,025 $ 24,001 $ 11,798
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Depreciation and amortization 2,697 1,838 8,121 5,669
Loss (gain) on disposal of property,
plant and equipment 11 115 (244) (159)
Loss on disposal of a subsidiary - - - 291
Unrealized gain on marketable securities (432) - (432) -
Loss (gain) on disposal of marketable securities 1,348 - (9,435) -
Gain on disposal of investment in an
affiliated company - - (1,346) -
Equity in loss (income) of affiliated companies
less dividend received and amortization 79 (599) 189 (859)
Fair value of shares issued as compensation - - 135 103
Deferred income taxes (110) (48) (110) (48)
Minority interest 2 - (12) -
Changes in current assets and liabilities, net of effects of acquisition and
disposal:
Decrease in marketable securities - 96 - 287
Decrease (increase) in accounts receivable 4,858 (3,643) (5,137) (8,147)
Increase in inventories (4,137) (144) (13,245) (6,546)
Decrease (increase) in prepaid expenses
and deposits 25 (1,490) 407 (896)
(Increase) decrease in income taxes recoverable (210) 670 28 670
Increase (decrease) in notes payable 578 (6,853) (6,331) (329)
(Decrease) increase in accounts payable and
accrued expenses (7,140) (6,839) 7,203 7,224
Increase in amount due to a related party 2,691 - 2,691 -
Decrease in income taxes payable (462) (378) (114) (105)
----------- ------------ ----------- ------------
Total adjustments (202) (17,275) (17,632) (2,845)
----------- ------------ ----------- ------------
Net cash provided by (used in) operating activities $ 1,392 $ (16,250) $ 6,369 $ 8,953
----------- ------------ ----------- ------------
CASH FLOWS FROM INVESTING ACTIVITIES
Cash outflow on disposal of a subsidiary $ - $ (19) $ - $ (19)
Purchase of marketable securities (4) - (7,504) -
Purchase of property, plant and equipment (1,310) (2,708) (3,579) (17,888)
Proceeds from disposal of marketable securities 1,625 - 24,213 -
Proceeds from disposal of investment in an
affiliated company - - 3,875 -
Proceeds from disposal of property, plant
and equipment - 1 388 322
(Increase) decrease in other assets (36) (121) 123 (53)
Acquisition of subsidiaries (7,872) - (7,872) -
Acquisition of business - 23 - (951)
Purchase of interest in an affiliated company - - (2,243) -
----------- ------------ ----------- ------------
Net cash (used in) provided by investing
activities $ (7,597) $ (2,824) $ 7,401 $ (18,589)
----------- ------------ ----------- ------------
CASH FLOWS FROM FINANCING ACTIVITIES
Notes payable $ - $ 6,949 $ - $ 6,949
Share buy-back program - (6,049) (73) (10,260)
Repayment of short term debt (1) - (1) -
Redemption of shares - - - (1,549)
Proceeds from shares issued on exercise of
options and warrants 1,289 388 2,754 394
Contribution by minority interest - - 200 -
Dividends paid (793) (716) (11,973) (2,889)
----------- ------------ ----------- ------------
Net cash provided by (used in) financing activities $ 495 $ 572 $ (9,093) $ (7,355)
----------- ------------ ----------- ------------
Foreign currency translation adjustments 9 (1) 4 (9)
----------- ------------ ----------- ------------
Net (decrease) increase in cash and cash
equivalents (5,701) (18,503) 4,681 (17,000)
----------- ------------ ----------- ------------
Cash and cash equivalents at beginning of period 64,597 72,718 54,215 71,215
----------- ------------ ----------- ------------
Cash and cash equivalents at end of period $ 58,896 $ 54,215 $ 58,896 $ 54,215
=========== ============ =========== ============
Page 5 of 6
NAM TAI ELECTRONICS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
FOR THE PERIODS ENDED DECEMBER 31, 2000 AND 1999
(In Thousands of U.S. Dollars)
1. Accumulated other comprehensive income represents foreign currency
translation adjustments. The comprehensive income of the Company was
$23,952 and $11,797 for the twelve months ended December 31, 2000 and
December 31, 1999, respectively.
2. Business segment information - The Company operates principally in the
consumer electronic product segment of the electronics manufacturing
services ("EMS") industry. A summary of the net sales, income from
operations and identifiable assets by geographic areas is as follows:
Three months ended Twelve months ended
December 31 December 31
2000 1999 2000 1999
- ------------------------------------- ---------- ---------- ----------- -----------
NET SALES FROM OPERATIONS WITHIN:
- Hong Kong:
Unaffiliated customers $ 55,341 $ 37,589 $ 202,364 $ 142,347
- PRC, excluding Hong Kong:
Unaffiliated customers 5,966 694 11,324 2,707
Intersegment sales 42,216 39,452 180,065 136,648
- Intersegment eliminations (42,216) (39,452) (180,065) (136,648)
----------- ----------- ------------- ------------
Total net sales $ 61,307 $ 38,283 $ 213,688 $ 145,054
=========== =========== ============= ============
INCOME (LOSS) FROM OPERATIONS WITHIN:
- PRC, excluding Hong Kong $ 227 $ 954 $ 6,549 $ 7,341
- Hong Kong 1,367 71 17,452 4,462
- Canada - - - (5)
----------- ----------- ------------- ------------
Total net income $ 1,594 $ 1,025 $ 24,001 $ 11,798
=========== =========== ============= ============
As at As at
December 31, 2000 Dec 31, 1999
- --------------------------------------- ----------------- ----------------
IDENTIFIABLE ASSETS BY GEOGRAPHIC AREA:
- PRC, excluding Hong Kong $ 71,242 $ 55,962
- Hong Kong 137,128 102,785
--------------- ---------------
Total assets $ 208,370 $ 158,747
=============== ===============
Page 6 of 6
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: investor@namtai.com
WEB SITE: www.namtai.com
CONTACT: LORNE WALDMAN
NAM TAI ELECTRONICS, INC.
TO RELEASE Q4/00 RESULTS ON FEBRUARY 12, 2001
VANCOUVER, CANADA January 15, 2001 -- Nam Tai Electronics, Inc. ("Nam Tai" or
the "Company") (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today
announced it will release its unaudited fourth quarter results for the period
ended December 31, 2000 before the market opens on Monday, February 12, 2001.
The Company will hold a conference call on Monday, February 12, 2001 @ 10:00
a.m. Eastern Time for analysts to discuss the fourth quarter results with
management. Analysts who wish to receive the toll free dial-in number for this
conference call are invited to contact the Investor Relations Office at
1-800-661-8831 no later than 6:00 p.m. Eastern Time on Friday, February 9, 2001.
Shareholders, media, and interested investors are invited to listen to the live
conference call by dialing (612)-332-0637 just prior to its start time. Callers
will be asked to register with the conference call operator.
FOURTH QUARTER DIVIDEND
The fourth quarter dividend of $0.09 per share will be paid on January 22, 2001
to shareholders of record at the close of business on December 31, 2000.
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, personal digital assistants,
electronic dictionary products, calculators, and various components including
liquid crystal display ("LCD") modules for cellular phones, lithium ion
rechargeable battery packs, and LCD panels. The Company utilises advanced
production technologies such as chip on glass ("COG"), chip on board ("COB"),
surface mount technology ("SMT"), ball grid array ("BGA"), tape automated
bonding ("TAB") and outer lead bonding ("OLB") technologies and anisotropic
conductive film ("ACF") heat seal technology. Further information is available
from Nam Tai's web site at www.namtai.com.
Page 1 of 1
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: investor@namtai.com
WEB SITE: www.namtai.com
CONTACT: LORNE WALDMAN
NAM TAI ELECTRONICS, INC.
TO EXPAND COG PRODUCTION
VANCOUVER, CANADA December 18, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or
the "Company") (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today
announced its decision to expand its chip on glass ("COG") production capacity
due to the strong market demand for liquid crystal display ("LCD") modules for
cellular phones and other electronic products.
Based on the market demand and customers' order forecasts for LCD modules
production capacity must increase sharply starting from January 2001, growing by
60% by the end of December 2001. Accordingly, the Company has ordered four
additional COG production lines, to be installed between February and the end of
April 2001, increasing the total number of production lines from five lines to
nine lines. The cost of all the necessary machinery, including fixtures, factory
re-layout, installation and other incidentals is approximately $10 million. The
expansion will be financed internally from operating cash flows and existing
cash on hand.
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, personal digital assistants,
electronic dictionary products, calculators, and various components including
liquid crystal display ("LCD") modules for cellular phones, lithium ion
rechargeable battery packs, and LCD panels. The Company utilises advanced
production technologies such as chip on glass ("COG"), chip on board ("COB"),
surface mount technology ("SMT"), ball grid array ("BGA"), tape automated
bonding ("TAB") and outer lead bonding ("OLB") technologies and anisotropic
conductive film ("ACF") heat seal technology. Further information is available
from Nam Tai's web site at www.namtai.com.
Except for the historical information contained herein, matters discussed in
this press release are forward-looking statements. For example, the Company's
expectation for the installation schedule of additional COG production lines is
a forward looking statement that is uncertain and dependent upon many factors
including on time delivery of machinery and possible installation difficulties.
Other factors that might cause differences in this and the other forward looking
statements, include, but are not limited to, those discussed in the Company's
reports filed with the Securities and Exchange Commission from time to time,
such as the factors set forth in Item 1 "Description of Business - Risk Factors"
in the Company's Annual Report on Form 20-F for the years ended December 31,
1999.
Page 1 of 1
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: investor@namtai.com
WEB SITE: www.namtai.com
CONTACT: LORNE WALDMAN
NAM TAI ELECTRONICS, INC.
RECEIVES ISO 14001 ENVIRONMENTAL STANDARD CERTIFICATION
VANCOUVER, CANADA December 4, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or
the "Company") (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today
announced that it's subsidiary Namtai Electronic (Shenzhen) Co. Ltd. has
received ISO 14001 Certification. ISO 14001 is a standard published in 1996 by
the International Organization for Standardization (ISO) that provides a
structured basis for environmental management control, based on the process of
"plan, implement, audit and review". ISO 14001 includes 21 specific requirements
for areas of environmental management control with an aim of balancing
socio-economic needs with environmental protection and prevention of pollution.
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, personal digital assistants,
electronic dictionaries, calculators, and various components including LCD
modules for cellular phones, lithium ion rechargeable battery packs, and liquid
crystal display ("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 and anisotropic conductive film ("ACF")
heat seal technology. Further information is available from Nam Tai's web-site
at www.namtai.com.
Page 1 of 1
NEWS RELEASE
NAM TAI ELECTRONICS, INC.
REPRESENTED BY: PAN PACIFIC I.R. LTD.
SUITE 1790 - 999 WEST HASTINGS STREET
VANCOUVER, B.C. CANADA V6C 2W2
TEL: (604) 669-7800 FAX: (604) 669-7816
TOLL FREE TEL & FAX: 1-800-661-8831
E-MAIL: investor@namtai.com
WEB SITE: www.namtai.com
CONTACT: LORNE WALDMAN
NAM TAI ELECTRONICS, INC.
FACTORY EXPANSION TO SUPPORT SALES GROWTH FORECASTS
VANCOUVER, CANADA November 15, 2000 -- Nam Tai Electronics, Inc. ("Nam Tai" or
the "Company") (NASDAQ/NM Symbol: NTAI and NTAIW; CBOE Symbol: QNA) today
announced that an official ground breaking ceremony was held on Saturday,
November 10, 2000 marking the beginning of construction of a new manufacturing
facility. The ceremony was attended by local government officials and
dignitaries, the project management team, the Company's management and
employees, and the Hong Kong based construction company.
The construction of a five-storied electronics factory building within the
Company's existing manufacturing campus is needed to support the customer sales
forecasts that indicate strong growth for years 2001 and 2002. The new building
will be approximately 138,000 square feet including:
- - a new clean room to house the Company's advanced chip on glass and chip on
board machinery
- - room for additional surface mount technology production lines, and
- - office space for the research and development department
Completion of construction is expected before the end of 2001 with normal
operations commencing from March 2002. The projected cost for the new factory
building is approximately $8 million with the installation of all necessary
machinery and interior works adding an additional $7 million to the total
budget. The construction will be financed with operating cash flows.
Sales for 2001 and 2002 are expected to once again increase sharply, even better
than the current year, as a result of significant growth within Nam Tai's
subassemblies and components business lines including rechargeable battery
packs, liquid crystal display ("LCD") modules and LCD panel manufacturing.
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 PC's, personal digital
assistants, linguistic products, calculators, smart card readers and various
components including LCD modules for cellular phones lithium ion rechargeable
battery packs, 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 and anisotropic conductive film ("ACF")
heat seal technology. Further information is available from Nam Tai's website at
www.namtai.com.
Except for the historical information contained herein, matters discussed in
this press release are forward-looking statements. The Company's expectation for
the completion date of the new factory building is uncertain and dependent upon
many factors including weather, supply issues, and reliability of the
construction company. Company's expectation for sales increases in 2001 and 2002
are based in part on customer forecasts which are not certain and may be changed
by the customer. Other factors that might cause differences these and other
forward looking statements, include, but are not limited to, those discussed in
the Company's reports filed with the Securities and Exchange Commission from
time to time, such as the factors set forth in Item 1 "Description of Business
Risk Factors" in the Company's Annual Report on Form 20-F for the years ended
December 31, 1999.
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The Registrant hereby incorporates this Report on Form 6-K into its Registration
Statement on Form F-3 (Registration No. 333-36135).
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
Undersigned thereunto duly authorized.
For and on behalf of
Nam Tai Electronics, Inc.
/s/ TADAO MURAKAMI
-----------------------
TADAO MURAKAMI
CHAIRMAN
Date: February 15, 2001