HONG KONG, June 5 /PRNewswire-FirstCall/ -- Peak International Limited , a market leader in plastics design, engineering, production and supply chain solutions, today announced its entry into the medical consumables market. The company also announced the general availability and first sale of its initial product release: disposable cuvettes.
“This is an important milestone for Peak International,” said Dean Personne, Peak’s president and chief executive officer. “Our design, engineering and clean room production capabilities provide us with a great set of resources to serve the medical market’s plastic needs for highly engineered products. We are pleased with the initial demand for our first products in this critically important market. We welcome medical product companies worldwide to challenge us to devise and engineer new and exciting products that feature the highest levels of efficiency and accuracy that their markets demand.”
According to the Fredonia Group, the annual US medical disposables market is approximately $54 billion and is expected to increase at 5.4% each year through 2009. Peak’s first disposable products, cuvettes, were designed expressly for those customers using Cobas Mira(R) Chemistry Analyzers and Bayer(R) (Chiron) Express 550 Chemistry Analyzers. Peak’s cuvettes are specially injected, molded, inspected and vacuum packaged in a special ISO 7 (Class 10,000) and ISO 5 (Class 100) clean room facility employing ultrasonic and high pressure processes for selected products to be used in clean rooms or in medical environments. These same manufacturing facilities have the flexibility to produce highly engineered medical products in substantial quantities.
“Our investment in a market leading, certified clean room environment was created specifically to serve both customers with highly sensitive electronic components but also the medical industry whose products many times require heightened levels of accuracy and purity,” Mr. Personne further commented. With offices in Hong Kong, manufacturing facilities in Shenzhen (PRC), and distribution centers worldwide, Peak offers products and manufacturing capabilities already used by some of the world’s largest companies for high-speed, automated manufacturing processes that require dimensional stability and precision tolerances. Peak has substantial manufacturing capacity, tooling and design expertise, and a worldwide footprint to support even the toughest JIT requirements.
About Peak International Limited
Peak International Limited is a leading supplier of precision-engineered packaging products for storage, transportation and automated handling of semiconductor devices and other electronic components as well as precision medical products. There are approximately 1,600 people who are working for Peak directly worldwide or indirectly in its factory in Shenzhen, the PRC, which is operated pursuant to a processing agreement with an unaffiliated party. Peak operates warehouses throughout the world and offers JIT services to leading semiconductor manufacturers and assemblers.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to the growth of the US medical disposables market and statements related to the Company’s ability to: 1) design, engineer and produce plastic products for the medical market; and 2) engineer and produce new medical products in substantial quantities. These and other forward-looking statements are not guarantees of future results and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include but are not limited to: price of raw materials, factors relating to conditions in semiconductor, disk drive and electronic industries, the amounts the Company may have to pay for workers at the PRC factory operated by a third party, difficulties related to working in the PRC, including regional government and processing partner relations, the market acceptance of its products, the introduction of new products by the Company’s competitors, any future economic downturn, and other matters that could cause actual results to differ materially from the projections made herein. Additional risks are detailed in the Company’s filings with the Securities and Exchange Commission, including the Company’s Quarterly Reports on Form 10-Q and Annual Report on Form 10-K filed on June 29, 2006. Statements included in this press release are based on information known to the Company as of the date of this release, and the Company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statement in this release.
Contacts: John Supan Lytham Partners, LLC Chief Financial Officer Joe Diaz Peak International Limited, Hong Kong Joe Dorame +852-3193-6000 Robert Blum (602) 889-9700
Peak International Limited
CONTACT: John Supan, Chief Financial Officer of Peak InternationalLimited, Hong Kong, +852-3193-6000; or Joe Diaz, or Joe Dorame, or RobertBlum, all of Lytham Partners, LLC, +1-602-889-9700, for Peak InternationalLimited
