ACL Semiconductors the leading China-based distributor of Samsung memory electronic products in Southern China and Hong Kong, announced the establishment of a memorandum of understanding with an independent third party that is a successful trader and procurement network specialist of memory products. An acquisition is expected within 60 days upon the completion of a satisfactory due diligence exercise.
Alan Yang, Chairman and CEO of ACL, commented, "Asia's true potential is in its 3 'C' markets -- computer, consumer electronic appliances and communications. ACL Semiconductors is well equipped with the knowledge and reserves to tap this potential as the economies of China and India continue to grow. This memorandum of understanding is the first step in propelling ACL from being the leading distributor of Samsung memory components in Southern China and Hong Kong to the leading Samsung distributor in Asia."