CHANGSHU, China, Dec. 16, 2015 /PRNewswire/ -- Sutor Technology
Group Limited (the "Company" or "Sutor") (Nasdaq: TOR), one of the
leading China-based manufacturers
and customized service providers for fine finished steel products
used by a variety of downstream applications, announced that it
succeeded in its trial production of self-developed pre-painted
cold-rolled steel ("PPCR steel"). The new developed PPCR steel will
meet all color painting and future deep stamping process
requirements.
With environmental requirements becoming more and more strict in
China's more developed regions,
Sutor developed the PPCR steel aiming to replace the existing
technology used in some industries where paints are mainly sprayed
on cold-rolled steel, which will significantly improve pollution
issues associated with the existing old-style technology. The newly
developed PPCR steel is a pre-painted product based on cold-rolled
steel. It not only provides bright and smooth surface, but also
preserves cold-rolled steel's future processing capability. PPCR
steel will maintain its originally painted color under 180 degree's
cold bending and meet future deep stamping process
requirements. This new PPCR steel products can be used
specifically in metal barrels, or more broadly in isolation
materials, door sheets and other interior decoration areas.
Ms. Lifang Chen, Chairwoman and
CEO of Sutor commented, "As part of our continuing efforts to
strengthening our Company's operating philosophy 'Green
Manufacturing', we are not only committed to energy conservation
and environment protection in our own daily operations, but also
make efforts to improve the whole industry. We believe, solid
technology and creativity are foundation for enterprise
competitiveness and success."
About Sutor Technology Group Ltd
Sutor is one of the leading China-based manufacturers and customized
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 our product PPCR, 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 Steel Technology Co., Ltd.