DIAS Holding Inc. services the multi-billion dollar industry of providing automotive, trucking, railway and petroleum industries with raw, finished and assembled components. One of the company’s major subsidiaries is Asia Forging Supply Company which manages outsourced procurement of finished and semi-finished components and sub-assemblies from China and elsewhere in Asia.
The company said today it expects to see an â€œinevitable recoveryâ€ in its world market revenues to near â€œpre-automotive market crash levelsâ€ as its last quarterly report has demonstrated a quarter on quarter improvement in total sales. DIAS Holding’s sales topped $14.4 million in 2008 before turmoil in the world automotive sector caused the company to experience what it now believes was a temporary slowdown in total revenues.
Another of the company’s subsidiaries, Detroit International Auto Salon, allows Asian companies to display capabilities and to quote manufacturing orders to original equipment manufacturers (OEMs) in the US. The company anticipates the US government’s recently completed â€œCash for Clunkers Programâ€ has added new requirements for OEMs to restock to meet desirable inventory levels at dealerships in the US auto market.
Chairman and CEO of DIAS Holding, Eric Huang, stated, â€œWe are seeing an influx of new companies with requests for quotes, which are quickly developing into expanded opportunities for DIAS Holding to meet the demand generated by what appears at this stage to be a rapid market recovery.â€ Mr. Huang went to say how opportunities are expanding for the company due to the ever increasing new capabilities being developed by the Asian auto supply manufacturing sector.
Mr. Huang also commented on the Chinese auto market, which this year has surpassed the United States in vehicle sales. He said, â€œWith predicted annual sales for the Chinese automotive industry of $350 billion in the year 2015, DIAS is in an unparalleled position to facilitate business relationships which will strengthen our import/export opportunities to substantiate and provide support for what are increasingly demanding global automotive industry requirements.â€