DPW Holdings Announces That Its Coolisys Power Electronics Business Sees Increased Offshore Manufacturing Capacity and Higher...
April 07 2020 - 6:30AM
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“
DPW,” or the
“
Company”), announced that its global power
electronics business, Coolisys Technologies Corp.
(“
Coolisys”), is seeing offshore manufacturing
partners, particularly in Asia, are back to near full capacity. In
addition, Coolisys is realizing an increase in demand from its
customers in the medical industry, specifically related to power
supplies for oxygen concentrators and ventilators, with
approximately $1.4 million in orders.
Our global supply chain was partially disrupted
earlier this year by the COVID-19 outbreak in China and other Asian
countries; however, based on improved conditions related to the
COVID-19 pandemic in Asia, we have recently resumed the production
of key products by Coolisys’ Chinese and Taiwanese manufacturing
partners, including power applications for the medical
industry.
Coolisys engineers have been designing and
developing power supply products for the medical industry for over
12 years. Coolisys products have helped pave the way for
advancements in a wide variety of medical applications, including
surgical equipment, patient monitoring and therapy systems, patient
beds and ventilators.
Coolisys products are designed to serve mission
critical applications for lifesaving and life-sustaining
applications across diverse markets. Coolisys medical power
supplies meets IEC 60601-1 safety requirements for medical applied
parts. Using power supplies that adhere r to the EN60601-1 safety
standard helps medical device and system manufacturers speed
compliance testing of their own products.
Coolisys’ CEO, Amos Kohn said, “In addition to
recent defense industry orders, we are seeing an increase in demand
for our products in the medical and healthcare sector. We are also
pleased to report that our offshore manufacturing partners are back
to near full capacity to enable us to continue our strong
reputation for delivering custom high-reliability power solutions
for the medical industry.”
For more information on DPW Holdings and its
subsidiaries, the Company recommends that stockholders, investors
and any other interested parties read the Company’s public filings
and press releases available under the Investor Relations section
at www.DPWHoldings.com or available at www.sec.gov.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding
company pursuing growth by acquiring undervalued businesses and
disruptive technologies with a global impact. Through its wholly
and majority-owned subsidiaries and strategic investments, the
Company provides mission-critical products that support a diverse
range of industries, including defense/aerospace, industrial,
telecommunications, medical, crypto-mining, and textiles. In
addition, the Company owns a select portfolio of commercial
hospitality properties and extends credit to select entrepreneurial
businesses through a licensed lending subsidiary. DPW’s
headquarters are located at 201 Shipyard Way, Suite E, Newport
Beach, CA 92663; www.DPWHoldings.com.
Forward-Looking Statements
This press release contains “forward looking
statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These
forward-looking statements generally include statements that are
predictive in nature and depend upon or refer to future events or
conditions, and include words such as “believes,” “plans,”
“anticipates,” “projects,” “estimates,” “expects,” “intends,”
“strategy,” “future,” “opportunity,” “may,” “will,” “should,”
“could,” “potential,” or similar expressions. Statements that are
not historical facts are forward-looking statements.
Forward-looking statements are based on current beliefs and
assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the
Company’s website at www.DPWHoldings.com.
Contacts:
IR@DPWHoldings.com or 1-888-753-2235
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