SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT OF
FOREIGN ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For the
date of February 2010
HIGHWAY HOLDINGS LIMITED
(Translation
of Registrant's Name Into English)
Suite
810, Level 8
Landmark
North
39 Lung
Sum Avenue
Sheung
Shui
New Territories, Hong Kong
(Address
of Principal Executive Offices)
(Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.)
Form
20-F x Form
40-F o
(Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
Yes o
No x
(If "Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_______________.)
Attached
to this Report on Form 6-K is the press release issued by the registrant on
February 23, 2010.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
| HIGHWAY HOLDINGS LIMITED | |||
|
Date: February
26, 2010
|
By:
|
/s/ ROLAND W. KOHL | |
| Roland W. Kohl | |||
| Chief Executive Officer | |||
 |
NEWS RELEASE
|
| CONTACT: |
Gary S. Maier
Maier & Company, Inc.
(310)
442-9852
|
HIGHWAY
HOLDINGS ANNOUNCES STRATEGIC INITIATIVES
TO
FOSTER FUTURE GROWTH
--Seeks
to Leverage Strong Balance Sheet to Enhance Shareholder Value--
HONG KONG — February 23, 2010
— Highway Holdings Limited (Nasdaq: HIHO) today announced
several strategic initiatives designed to leverage its solid balance sheet and
enhance shareholder value.
“Key
components of the planned proactive initiatives will be focused on growing the
company’s core business to achieve our sales and earnings targets, while seeking
appropriate partnerships, complementary acquisitions and related activities,”
said Roland Kohl, president and chief executive officer of Highway
Holdings.
He added
that the company’s near-term goals are to return Highway Holdings’ OEM business,
at a minimum, to sales levels prior to the worldwide economic recession and
achieve significant earnings growth in its fiscal 2011 period compared with its
fiscal 2010 period ending March 31, 2010.
He noted
Highway Holdings’ quality manufacturing, available operating capacity, global
customer base and Nasdaq listing support its strategy to attract Chinese
business partners seeking international access. “Conversely,
partnerships with Chinese companies may also provide an opportunity for Highway
Holdings to gain potential new OEM customers within the domestic Chinese market
– a customer base that has not been available to Highway Holdings due to the
company’s existing business structure in China,” said Kohl.
He also
indicated that the company plans to increase its efforts to identify additional
business opportunities in highly promising new technologies and growth areas, as
well as mergers and acquisitions.
About
Highway Holdings
Highway Holdings produces a wide
variety of high-quality products for blue chip original equipment manufacturers
-- from simple parts and components to sub-assemblies. It also
manufactures finished products, such as LED lights, radio chimes and other
electronic products. Highway Holdings’ principal office is located in
Hong Kong and it currently operates two manufacturing facilities in the People's
Republic of China.
Except
for the historical information contained herein, the matters discussed in this
press release are forward-looking statements which involve risks and
uncertainties, including but not limited to economic, competitive, governmental,
political and technological factors affecting the company's revenues,
operations, markets, products and prices, and other factors discussed in the
company’s various filings with the Securities and Exchange Commission, including
without limitation, the company’s annual reports on Form 20-F.
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