Benzinga | Jun 17, 2021 12:09PM EDT

Deswell Industries Acquires Equipment For Electronics And Plastics Divisions

* Deswell Industries Inc (NASDAQ:DSWL) acquired new manufacturing equipment at its electronics and plastics divisions.

* It acquired two Panasonic SMT (Surface Mount Technology) placement systems for the electronic division for CNY2.6 million.

* It also acquired two HaiTian new generation 800 tons injection molding machines with 2 Star Seiki high-speed five-axis servo robots for the plastic division for CNY2.8 million.

* Deswell expects to install the new equipment at the respective manufacturing facilities in August 2021.

* Deswell held $20.2 million in cash and equivalents as of Mar. 31, 2021.

* Price action: DSWL shares traded lower by 0.48% at $4.77 on the last check Thursday.