BEIJING, Sept. 6, 2012 /PRNewswire-FirstCall/ -- General
Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE:
GSI), one of China's leading
non-state-owned producers of steel products and aggregators of
domestic steel companies, today announced that Henry Yu, Chairman and Chief Executive Officer,
will participate in the Asia-Pacific Economic Cooperation (APEC)
Russia 2012 CEO Summit during the
APEC 2012 Leaders Week in Vladivostok,
Russia on September 7-8, 2012.
Mr. Yu will attend the Summit with Wei Hua, Chairman of Shaanxi Coal & Chemical
Industry Group Co. Ltd., the largest state-owned coal producer in
Shaanxi Province and General
Steel's partner in the Longmen Joint Venture Unified Management
Agreement.
"I am proud to represent General Steel at this prestigious forum
and pleased that Wei Hua has agreed
to join me for the second consecutive year, reinforcing the
strength of our companies' cooperation under the Unified Management
Agreement," said Henry Yu, Chief
Executive Officer of General Steel. "A key element of our growth
strategy going forward is to optimize our cost structure, improve
raw materials procurement and advance our business development
initiatives through partnerships and strategic collaboration
agreements with prominent state-owned enterprises. The APEC CEO
Summit provides us with an opportunity to strengthen relationships
with leaders of government entities and private Chinese
enterprises, as well as a platform to build awareness of our
companies and our industry among business and government executives
on an international level."
The CEO Summit is an annual forum for CEOs of prominent
companies in the Asia-Pacific
region and an important component of APEC Russia 2012 Leaders Week.
The theme of the 2012 summit is "Addressing Challenges. Expanding
Possibilities." Attended by corporate executives, Heads of State
and senior government officials from APEC member countries, the
Summit provides an open forum for business leaders to share ideas
and opinions, and identify solutions to current economic challenges
through multilateral dialogue with government leaders. In addition
to networking and business development opportunities, the Summit
features panel discussions and interactive sessions on a variety of
topics including economic integration, resource utilization, supply
chain and infrastructure development.
About General Steel Holdings, Inc.
General Steel Holdings, Inc., (NYSE: GSI), headquartered in
Beijing, China, operates a diverse
portfolio of Chinese steel companies. With 7 million metric tons of
crude steel production capacity under management, its companies
serve various industries and produce a variety of steel products
including rebar, high-speed wire and spiral-weld pipe. General
Steel Holdings, Inc. has steel operations in Shaanxi and Guangdong provinces, Inner Mongolia Autonomous
Region and Tianjin municipality.
For more information, please visit www.gshi-steel.com.
To be added to the General Steel email list to receive Company
news, please send your request to generalsteel@tpg-ir.com.
Forward-Looking Statements
This press release may contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on management's
current expectations or beliefs about future events and financial,
political and social trends and assumptions it has made based on
information currently available to it. The Company cannot assure
that any expectations, forecasts or assumptions made by management
in preparing these forward-looking statements will prove accurate,
or that any projections will be realized. Actual results could
differ materially from those projected in the forward-looking
statements as a result of inaccurate assumptions or a number of
risks and uncertainties. These risks and uncertainties are set
forth in the Company's filings under the Securities Act of 1933 and
the Securities Exchange Act of 1934 under "Risk Factors" and
elsewhere, and include: (a) those risks and uncertainties related
to general economic conditions in China, including regulatory factors that may
affect such economic conditions; (b) whether the Company is able to
manage its planned growth efficiently and operate profitable
operations, including whether its management will be able to
identify, hire, train, retain, motivate and manage required
personnel or that management will be able to successfully manage
and exploit existing and potential market opportunities; (c)
whether the Company is able to generate sufficient revenues or
obtain financing to sustain and grow its operations; (d) whether
the Company is able to successfully fulfill our primary
requirements for cash; and (e) other risks, including those
disclosed in the Company's Form 10-K, filed with the SEC.
Forward-looking statements contained herein speak only as of
the date of this release. The Company does not undertake any
obligation to update or revise publicly any forward-looking
statements, whether to reflect new information, future events or
otherwise.
Contact Us
In
China:
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In the
US:
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Jenny
Wang
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The
Piacente Group, Inc.
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General
Steel Holdings, Inc.
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Investor
Relations
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Tel:
+86-10-5775-7691
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Brandi
Floberg or Lee Roth
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Email:
jenny.wang@gshi-steel.com
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Tel:
+1-212-481-2050
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Email:
generalsteel@tpg-ir.com
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SOURCE General Steel Holdings, Inc.