TAIPEI, Taiwan, June 11, 2013 /PRNewswire/ -- On Mon, June 10, 2013, SEYI (SHIEH YIH MACHINERY) (4533 TT), one of the world's leading producers of mechanical presses, held its annual meeting of shareholders in Taipei. At the meeting, Ms. Claire Kuo, Chairman and Chief Executive Officer, reported on the financial results for 2012; and SEYI shareholders approved certain changes to the Company's Articles of Incorporation, elected the members of the Company's Board of Directors for the next three years, and passed certain corporate governance measures.
Mr. Huei-Hsiung Yu, Mr. John Ken-Yi Cheng, Mr. Tin-Chun Kuo and Ms. Claire,Yahui Kuo, who have served as Directors for the past three years, were re-elected for an additional three year term. Mr. Hwe Ching Wong was elected as a new Director. Mr.Wong has broad experience as the Chairman, Board Member, Managing Director, or Supervisor of securities firms, insurance companies and institutions such as the Taiwan Stock Exchange Corporation, Yuanta Financial Holdings and Central Insurance Co. Ltd. Mr. King-Jen Fu and Thomas Tzu-Wu Lo were both re-elected for another three year term as Board Supervisors.
At the Board of Directors Meeting, SEYI's Board re-elected Ms. Claire, Yahui Kuo as Chairman. Ms. Kuo has led the SEYI team since 2009 and has transformed the company from a traditional press company to a world leader in the metal forming industry. Ms. Kuo's achievements during the past years have been well recognized in the industry and by SEYI's Board.
At the Shareholder Meeting, SEYI's shareholders approved a cash dividend of TWD 0.5 per share. Of the total amount of the dividend, TWD 0.2 will be paid out of Retained Earnings, and TWD 0.3 will be paid out of the company's Capital Surplus account.
Ms. Kuo, Chairman and Chief Executive Officer, said, "In the coming three years, SEYI will have many strategic alternatives to expand its business, building upon the strong momentum that has already been established. I am particularly pleased with the company's performance and progress in 2013, and with the addition of Mr. Wong to our Board of Directors. Mr. Wong brings broad experience in the banking, insurance, financial and investment industries, and I am confident that he will make a valuable contribution to SEYI."
Founded in 1962, SEYI has established a global leadership position in the metal forming industry over the past 50 years. SEYI manufactures mechanical presses, ranging in size from 25 to 4000 tons, at facilities located in Taiwan and mainland China.
SEYI is expanding its Total Solution Service emphasizing peripherals such as feed mechanisms, transfer equipment and other ancillaries to maximize SEYI press productivity. SEYI's servo presses are highly-integrated, exquisitely designed, durable, smart, energy efficient and environmentally friendly. They feature the latest user-friendly interfaces, safe system designs and robust machine structures. Their stylish exterior designs differentiate them in the market and communicate their quality and value.
SEYI's products are sold to customers in over 40 countries around the world and have received numerous quality and industry awards. SEYI has supplied the world's leading car companies in the automobile industry. The auto, aviation machinery and medical equipment industries are expected to be future areas of growth.
The Company completed an initial public offering of its common stock in 2002 and is traded on the Taiwanese OTC (4533 TT) market.
For further information contact:
Fathi El-Farghali (O): +1-909-839-1151 x207
Director of Business Development (M): +1-626-675-9591
203 Lemon Creek Dr. Unit A Fathi@seyiamerica.com
Walnut, California 91789 USA www.seyi.com
Note: TWD 29.74 to US$ 1.00
SOURCE Shieh Yih Machinery Industry Co., Ltd.