ACL signs MoU with strategic partner

ACL Semiconductors, the leading China-based distributor of Samsung memory electronic products in Southern China and Hong Kong, announced the establishment of a memorandum of understanding with an independent third party that is a successful trader and procurement network specialist of memory products. An acquisition is expected within 60 days upon the completion of a satisfactory due diligence exercise. Alan Yang, Chairman and CEO of ACL, commented, "Asia's true potential is in its 3 'C' markets -- computer, consumer electronic appliances and communications. ACL Semiconductors is well equipped with the knowledge and reserves to tap this potential as the economies of China and India continue to grow. This memorandum of understanding is the first step in propelling ACL from being the leading distributor of Samsung memory components in Southern China and Hong Kong to the leading Samsung distributor in Asia." ACL Semiconductor plans to fuel growth in 2012 through, "organic and inorganic growth strategies," added Mr. Yang. "Organic growth strategies include business development techniques that grow a company via increased output and larger sales volume, while inorganic growth strategies include mergers, acquisitions, and takeovers of competitors and complementary businesses." "In any strategic move, our team at ACL strives to be both consistent and cautious in our reserves and gearing. Shareholders' interests are being placed in the first priority," Mr. Yang stated.