We're proud to announce the launching of a new Electronic Packaging Plant in Alexandria, Romania, named NEPROM TECHNOLOGY.

We intend this new facility to spearhead our European operations and to help facilitate the group's entry into new markets in the region.

Eastern Europe is rapidly becoming an important manufacturing location for Electronic Manufacturing Services (EMS) providers. With electronic system production revenues expected to rise at a compound annual growth rate (CAGR) of 10.2% from 2005 through 2010, compared to a negative 2.4% CAGR for the rest of Europe during the same period, according to market researcher iSuppli, many leading EMS suppliers are moving key operations to the region.

EMS companies have been operating in countries like Poland, the Czech Republic and Hungary for several years, however lower labor costs are drawing many of them to Romania, where labor costs are 70% less than in other  Eastern European countries.

The decision to invest in Romania was due to the country's recent accession to the European Union, its high-quality well-educated work force, and its competitive wage levels, which altogether turns Romania into an ideal entry point into Europe.

We're confident in the success of the new plant and in its contribution to the Company's European operations.