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Stock impact report

Highway Holdings Appoints New Directors

Highway Holdings Limited (HIHO) 
US:NASDAQ Investor Relations: highwayholdings.com
Company Research Source: Business Wire
Highlights Company’s Efficiency and Competitive Position HONG KONG--(BUSINESS WIRE)--Highway Holdings Limited (Nasdaq:HIHO) today announced its board of directors has appointed two new directors, Heiko Sonnekalb and Dirk Hermann, to fill existing vacancies -- complementing the company’s ongoing rejuvenation to support near-and long-term growth.“Highway Holdings has been engaged in a multi-year strategic initiative to reposition itself as a leading manufacturing company. The benefits that attracted us to manufacture in China are no longer present. Therefore, in the past few years, in order to rejuvenate this company, we have moved most of our manufacturing from China to a brand-new facility that we built in Myanmar. We have also enhanced our workforce by replacing older managers with younger employees through attrition, and by improvements to our technical team, while sharply reducing head count in China to approximately 100 employees today from around 2,000 employees in 2007. By up Show less Read more
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