CHANGSHU, China, July 17, 2015 /PRNewswire/ -- Sutor Technology
Group Limited (the "Company" or "Sutor") (Nasdaq: TOR), one of the
leading China-based manufacturers
and service providers for fine finished steel products used by a
variety of downstream applications, today announced that Company
adjusted its organizational structure recently to provide customers
with diversified services and consolidate the Company's business
transformation
achievements.
To provide diversified services and realize "asset-light"
operation, the Company built a new organizational structure. This
new structure can help us integrate our internal and external
resources in order to achieve our goal of becoming "one of the best
service platforms in the industrial ecological chain". The
principle of such new organizational structure is "simple and
effective flat management". Under the new structure, there are
three major parallel divisions compromising business, technical and
operational divisions. Business division is composed of supply
chain development department, logistic department, international
e-business department, product innovation department and IE
(integrate, industrial and internet education) department.
Technical division is composed of factory services department and
IT department. Operational division is composed of financing
services department, public relations services department, customer
services department and investment development services
department.
Ms. Lifang Chen, Chairwoman and
CEO of Sutor commented, "We are glad to see that, through all of
our employees' efforts, the Company completed the business
transformation from a fine finished steel manufacturer into a fine
finished steel supply chain service provider. To better fulfill our
responsibilities of providing comprehensive one-stop services in
processing, logistics, e-commerce and R&D to our end customers,
we adjusted the organizational structure."
About Sutor Technology Group Ltd
Sutor is one of the leading China-based manufacturers and service
providers for high-end fine finished steel products and welded
steel pipes used by a variety of downstream applications. The
Company utilizes a variety of in-house developed processes and
technologies to convert steel manufactured by third parties into
fine finished steel products, including hot-dip galvanized steel,
pre-painted galvanized steel, acid-pickled steel, cold-rolled steel
and welded steel pipe products. The Company also provides fee-based
steel processing services to customers, including industrial peers.
To learn more about the Company, please visit
http://www.sutorcn.com/en/index.php.
Forward-Looking Statements
This press release includes certain statements that are not
descriptions of historical facts, but are "forward-looking
statements" in nature within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements include, among
others, those concerning our expected financial performance,
liquidity and strategic and operational plans, our future operating
results, our expectations regarding the market for our products,
our expectations regarding the steel market, as well as all
assumptions, expectations, predictions, intentions or beliefs about
future events. You are cautioned that any such
forward-looking statements are not guarantees of future performance
and that a number of risks and uncertainties could cause our actual
results to differ materially from those anticipated, expressed or
implied in the forward-looking statements. These risks and
uncertainties include, but not limited to, the factors mentioned in
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended June 30, 2014, and
other risks mentioned in our other reports filed with the
Securities Exchange Commission ("SEC"). Copies of filings
made with the SEC are available through the SEC's electronic data
gathering analysis retrieval system (EDGAR) at
http://www.sec.gov. The words "believe," "expect,"
"anticipate," "project," "targets," "optimistic," "intend," "aim,"
"will" or similar expressions are intended to identify
forward-looking statements. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. The Company assumes no obligation and does not
intend to update any forward-looking statements, except as required
by law.
For more information, please contact:
Investor
Relations
Sutor Technology Group
Limited
Tel:
+86-512-5268-0988
Email: investor_relations@sutorcn.com
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SOURCE Sutor Technology Group Limited