HONG KONG, Oct. 1, 2012 /PRNewswire/ -- ACL Semiconductors Inc. (OTC Bulletin Board: ACLO) ("ACL"), a leading China-based distributor of memory electronic products in Southern China and Hong Kong, announced today that it has retained Maxim Group LLC, a leading investment banking, securities and investment management firm, to provide strategic corporate finance and investment banking services. Maxim will focus on assisting ACL in its strategies for maximizing shareholder value through its full scope of investment banking services.
Mr. Chung-Lun Yang, Chief Executive Officer and Chairman of ACL, stated, "We are looking forward to utilizing the expertise of Maxim Group in executing growth strategy to further enhance shareholder value. We are advancing our strategy to expand our business through acquisitions and organic growth initiatives."
Karl Brenza, Senior Managing Director, Investment Banking, Maxim Group, commented, "We are delighted to partner with ACL Semiconductors. Our goal will be to provide assistance to ACL in the financial and value creation components of its corporate strategy through our full-service investment banking capabilities. Furthermore, we will also be supporting ACL in attaining its strategic initiatives and long-term objectives."
About ACL Semiconductors Inc.
ACL Semiconductors Inc. is a China-based distributor of semiconductor components in Hong Kong and Southern China. Starting April 1, 2012, ACL is distributing Samsung's semiconductor and LCD products through ATMD, a newly established joint venture with Tomen Devices. Semiconductor products are used in everything from mobile phones, digital cameras and laptop computers to MP3 players and Wi-Fi products. For more information about ACL Semiconductors Inc. please visit ACL Semiconductors Inc.'s corporate website at http://www.acl-semicon.com.
This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbour created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings.
SOURCE ACL Semiconductors Inc.