SAN DIEGO, May 21, 2019 /PRNewswire/ -- In a move planned to substantially increase revenues and reach a worldwide market, Dalrada Precision, a subsidiary of Dalrada Financial Corp. (OTC Pink: DFCO), acquired the assets of Malaysian company to expand its core business of building complex end-user products.
The selling company, CYN Precision Enterprise, owns five sophisticated computerized milling machines and expert operators. In business for 10 years, it has traditionally sold to a local Malaysian market, and the sale will allow it to reach customers worldwide.
Dalrada Precision President David Pickett said the move will increase the company's capacity by 75 percent. "We predict this will increase revenues by $5 million to $7 million per annum," he said.
CYN's assets and personnel will relocate to Dalrada Precision's Kedah, Malaysia facility at No, 82, Lonrong Saga ½ Kawasan Saga, 08000 Sangai Petani.
Now with streamlined operations, the company will produce parts and perform mass production at the same facility, along with investing in a new five-axis machine and other equipment to support customer orders.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.