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Southern Products, Inc. Enters Into an OEM Agreement With LG Electronics(April 11, 2012)
LOS ANGELES, CA -- (Marketwire) -- 04/11/12 -- Southern Products (OTCBB: SNPD), a new manufacturer of "Assembled in the USA" flat-panel televisions, announced today that it has signed an Original Equipment Manufacturer (OEM) agreement with LG Electronics USA Inc., a major manufacturer of consumer electronic goods and parts, including flat panel glass used in LCD and LED televisions. This agreement allows Southern Products to buy high quality LG flat panels directly or through its Chinese component manufacturer and then use them in the manufacture and assembly of its line of Sigmac flat-screen televisions.
LG currently offers high quality television panels ranging in size from 32 to 55 inches, with an 84 inch panel expected to be available by the 3rd quarter of this year. These include LCD, LED as well as 3D models in most sizes. The panel resolution ranges from 720p to 1080p with cycles from 60 to 240 hz.
"This arrangement with LG will allow us additional direct purchasing power with LG and preferential rates," said Edward Meadows, Southern Products, Chief Executive Officer. "We also expect that when we move to our new expanded facility and launch our Assembled in the USA product lines, we will be able to take advantage of 'just-in-time' purchasing of the LG Panels under this agreement. This will save a substantial amount in financing costs we have been incurring when assembling televisions outside the US. It will also reduce the price risks normally associated with assembly of televisions shipped into the US."
About Southern Products, Inc.
Southern Products, dba Sigmac USA, is a manufacturer of quality, mid-priced flat-panel televisions and peripherals for distribution through big-box retailers in the US. The Company currently has a product line of 21 flat-panel models in production, and has entered into large-scale distribution agreements with Fry's Electronics, Target, K-Mart, Costco.com, Tiger Direct and Walmart.com for the sale of Sigmac-branded flat-panel televisions and peripherals in North America. The Company is a fully-reporting public consumer electronics company incorporated in the state of Nevada and trading on the Over-the-Counter Bulletin Board in the US (OTCBB: SNPD).
For further information please visit www.sigmacusa.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those identified under "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q and in other filings made with the Securities Exchange Commission. Actual results may differ materially from those contemplated by these forward-looking statements and the Company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.
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