CHANGSHU, China, Jan. 14, 2016 /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 its
Board of Directors had approved and appointed a new independent
director, Mr. Hui Sheng, as a member
of the Audit, Compensation Committee and the Chair of the
Governance and Nominating Committee of the Company on January 11, 2016.
Mr. Sheng, one of the founders of Shanghai Guandian Electronic
Commerce Company Limited, has rich experience in e-commerce operations. Before Shanghai Guandian, he served as
the E-business Operating Director in a well-known global bulk
commodity process distribution company for many years, where he was
responsible for online marketing and market development strategy.
Mr. Sheng graduated from Nanjing
University and majored in computer science.
Ms. Lifang Chen, Chairwoman and
CEO of Sutor commented, "Mr. Xinchuang Li was an integral part of
Sutor's growth and success, I want to thank Xinchuang for his many
contributions to Sutor over the past eight years and wish him great
success in the future. We are also very delighted to welcome Mr.
Hui Sheng to the board who brings
with him a fresh perspective and rich e-commerce experience. We
believe Mr. Sheng's deep knowledge
and experience in e-commerce will help our company to fulfill our
business transformation objectives and accelerate our transition
into a diversified industrial technology and online-to-offline
services provider."
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 ability to fulfill our business objectives, 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.