BEIJING, March 18 /PRNewswire-Asia-FirstCall/ -- China
Fundamental Acquisition Corporation, which is in the process of
changing its name to Wowjoint Holdings Limited (OTC Bulletin Board:
CFQCF, CFQWF, CFQUF) and which through its operating subsidiary,
Beijing Wowjoint Machinery Co., Ltd., ("Wowjoint"), is a market
leader in the design, engineering and manufacturing of customized
infrastructure equipment and machinery used in the construction of
railways, highways, bridges, and viaducts, announced today that it
has named Anthony ("Tony") Hung as
Chief Financial Officer of the Company.
Prior to joining Wowjoint, Mr. Hung was a member of the
investment banking team at Deutsche Bank AG Hong Kong for four
years, where he managed transactions and client coverage in the
infrastructure (ports and rail), energy (solar and renewables),
real estate, technology (internet) and consumer sectors. The
transactions Mr. Hung worked on include: Taiwan High-Speed Rail's
US$300 million CB offering; Dubai
Ports & Swire's HK$3 billion
divestiture of interests in Shekou Container Terminal; Renesola's
US$212 million follow-on offering;
Neo-China's HK$620 million equity
placement; and Far East Consortium's HK$2.2
billion syndicated loan.
Previously Mr. Hung was a private equity associate with Bastion
Capital Corporation, LLC, in Los Angeles,
CA, where he analyzed and helped manage existing and
potential portfolio investments, including Spanish media company
Telemundo. Prior to Bastion, Mr. Hung was co-founder of Ave3D Inc.,
a Santa Clara, CA based 3D
Internet software company where he developed, executed and helped
finance the company's business model and strategic vision. Before
founding Ave3D, Mr. Hung served as a member of the Technology
Investment Banking Group of Bear, Stearns & Co. Inc. in
New York, NY, where he provided
analysis on over $20.0 billion of
mergers and acquisitions, and financings.
Mr. Hung received his Master of Business Administration degree
at the University of California at
Berkeley, and his Bachelor of Science degree from
New York University, Stern School of
Business.
"The addition of Mr. Hung as Chief Financial Officer will
further strengthen the capabilities of the Wowjoint management team
while providing support in the financial, strategic growth and
operational areas as we continue to capitalize on China's growing infrastructure sector while
further penetrating the worldwide customized equipment markets,"
stated Mr. Ya Bin Liu, Chief Executive Officer of the Company. "Mr.
Hung will leverage both industry experience and his extensive
expertise in the capital markets to enhance our visibility and
diversify our shareholder base."
About Beijing Wowjoint Machinery Co.
Wowjoint was recently acquired by China Fundamental Acquisition
Corporation, a special purpose acquisition company that completed
its initial public offering in May
2008. The company has filed for a formal name change.
Wowjoint is one of the leading providers in the design, engineering
and manufacturing of customized infrastructure equipment and
machinery used in the construction of railways, highways, metro
subways, bridges and viaducts. It provides end-to-end solutions in
various engineering applications involving the lifting, carrying
and transporting of large-scale and heavy precast concrete beams,
and other heavy goods. Wowjoint's main product lines include
launching gantries, tyre trolleys, special carriers, marine hoists
and special purpose equipment. Wowjoint's equipment and machinery
are designed to overcome specific construction obstacles by meeting
its customers' stringent engineering requirements wherever Wowjoint
products are deployed regardless of terrain, soil and climate
conditions. China Fundamental Acquisition Corporation filed an
application for listing upon the NASDAQ Global Market. There can be
no assurance that the Company will continue to meet the NASDAQ
Global Market listing requirements or that the Company's
application will be approved.
Forward Looking Statements
This press release and planned conference presentation includes
"forward-looking statements" within the meaning of the safe harbour
provisions of the United States Private Securities Litigation
Reform Act of 1995. Words such as "expect," "estimate," "project,"
"budget," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believes," "predicts," "potential,"
"continue," and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements in this
press release include matters that involve known and unknown risks,
uncertainties and other factors that may cause actual results,
levels of activity, performance or achievements to differ
materially from results expressed or implied by this press release.
Such risk factors include, among others: the Company's ability to
respond to any comments or questions from NASDAQ regarding its
application; the timing of the Company's responses to any NASDAQ
questions or comments; the Company's ability to meet the listing
requirement for listing on NASDAQ; whether NASDAQ will approve the
Company's application for listing; the timing of any listing on an
exchange; potential liability from the future litigation; and
acquisition integration related issues. Actual results may differ
materially from those contained in the forward-looking statements
in this communication and in documents submitted to the U.S.
Securities and Exchange Commission (the "SEC"). The Company
undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances
occurring after the date of this communication. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this communication. All
forward-looking statements are qualified in their entirety by this
cautionary statement.
For additional information contact:
Beijing Wowjoint Machinery Co.
China Fundamental Acquisition Corporation
Amy Kong, Senior Vice President of Capital Markets
Tel: +1-347-416-2705
Email: ak@email.wowjoint.com
or
HC International, Inc.
Scott Powell, Vice President
Tel: +1-917-721-9480
Email: spowell@hcinternational.net
SOURCE China Fundamental Acquisition Corporation