| The company is an integrated manufacturer of high quality metal parts, cameras and clocks for major Japanese, German and United States original equipment manufacturers and contract manufacturers. The company conducts all of its manufacturing activities at a factory complex located in the People's Republic of China which it occupies pursuant to an arrangement with state-owned enterprises in Long Hua, Shenzhen, China. The company manufactures and supplies a wide variety of high quality metal parts and components which are used by the company's customers in the manufacturing of such products as photocopiers, laser printers, compact disc players, cassette players, computer equipment. As of September 30, 1996, the company's three largest customers were Hi-Tech Precision Products Lts., a contract manufacturer for Sony Corp.; Sanyo Electric Ltd., a subsidiary of Sanyo Corp.; and Lighting Control System Ltd., a subsidiary of Siemens GmbH. As part of its manufacturing operations in China, the company assists customers in the design and development of the tooling used in the metal stamping process and provides a broad array of other manufacturing services, including spray painting, screen printing, plastic injection molding, pad printing and assembly services. |