BEIJING, April 24, 2013 /PRNewswire/ -- General Steel
Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a
leading non-state-owned steel producer in China, today announced the appointment of Mr.
Yanqi Liu, a senior executive with
over 45 years of extensive experience in the steel industry, as the
Company's Vice President of Strategy and Operations.
"I am very pleased to welcome Mr. Liu to General Steel," said
Henry Yu, Chairman and Chief
Executive Officer of General Steel Holdings, Inc. "Mr. Liu is
a great addition to our executive management team, bringing a
valuable combination of extensive operational experience,
insightful market knowledge, broad industry network and deep
relationships with customers and regulators in our key market in
Western China. We
expect great contributions from Mr. Liu not only in enhancing
our strategy formulation and execution, but also in delivering
long-term value to all of our stakeholders."
Prior to joining General Steel, Mr. Liu was a senior executive
at two subsidiaries of Sinosteel Corporation, one of China's leading state-owned steel companies.
Mr. Liu was also the Vice Chairman of Qinghai Xiwang Mining
Development Co., Ltd. and General Manager of Shanxi Zhongyu Iron
and Steel Co., Ltd. Prior to these positions, Mr. Liu held
executive management positions spanning over 40 years at Jiuquan
Iron & Steel (Group) Co., Ltd., one of the largest and most
prestigious integrated steel companies with production capacity of
10 million metric tons in Northwestern
China, covering production planning, operations management,
and economic and market research implementation. Since 1996,
Mr. Liu has served as Special Researcher to the State Council's
Development Research Center. From 1961 to 1966, Mr. Liu
studied Mining Engineering and Economics Organization at
China University of Mining and
Technology.
"I've enjoyed working closely with the team at General Steel,"
commented Mr. Liu. "As a leading non-state-owned integrated steel
producer, General Steel has a unique geographic advantage in
Western China which currently
enjoys higher economic growth, more government support, and greater
incentives on construction and infrastructure spending. I
look forward to working tirelessly with the team to achieve its
goals of efficiency optimization and profitability improvement
while at the same time capturing the opportunities presented from
General Steel's unique geographic advantage."
About General Steel Holdings, Inc.
General Steel Holdings, Inc., headquartered in Beijing, China, produces a variety of steel
products including rebar, high-speed wire and spiral-weld pipe. The
Company has operations in China's
Shaanxi and Guangdong provinces, Inner Mongolia Autonomous
Region and Tianjin municipality
with seven million metric tons of crude steel production capacity
under management. For more information, please visit
www.gshi-steel.com.
To be added to the General Steel email list to receive Company
news, or to request a hard copy of the Company's Annual Report on
Form 10-K, please send your request to
generalsteel@asiabridgegroup.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
General Steel Holdings, Inc.
In China:
Jenny Wang
Tel: +86-10-5775-7691
Email: jenny.wang@gshi-steel.com
In the US:
Joyce Sung
Tel: +1-347-534-1435
Email: joyce.sung@gshi-steel.com
Asia Bridge Capital Limited
Carene Toh
Tel: +1-888-957-3362
Email: generalsteel@asiabridgegroup.com
SOURCE General Steel Holdings, Inc.