JITE ANNOUNCES KUNSHAN PLANT BEGINS PRODUCTION
Trading Symbol: JTI
TORONTO, Dec. 2 /CNW/ - JITE Technologies Inc. ("Jite" or the "Company") is very pleased to announce that it has started trial production in its new Kunshan plant two months ahead of originally planned. Management will review the trial production within six months with the intent to build a new assembly facility that may be larger than the current one in Shenzhen.
The Company acquired the plant in Kunshan in 2009 under its wholly owned subsidiary Jite Industrial (Kunshan) Co., Ltd. ("Jite Kunshan") and completed all transactions earlier this year. Kunshan is located one hour from Shanghai, and has access to many international and domestic customers in the area. The new Kunshan plant is approximately 60 Acres of land with 200,000 square feet of existing production space and with the potential of building another 300,000 square feet of new production space when necessary.
The start of production in this new and top level production facility marks the beginning of another growth stage for Jite Technologies Inc.
About JITE
JITE designs and manufactures electronic and electrical connection devices for security, industrial control, automation, telecommunication, and power supply industries. JITE is headquartered in Toronto, Canada and carries out research and manufacturing operations in Shenzhen China at its ISO 9001 certified facility.
This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
JITE Investor Contact: eXavier Peterson or Winfield Ding, Chief Financial Officer, Tel: (416) 366 7420; www.jite.com
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