BEIJING, Feb. 18, 2015 /PRNewswire/ -- General Steel
Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a
leading non-state-owned steel producer in China, announced today that the Company,
through its previously-announced joint venture with a team of
Radio-Frequency Identification ("RFID") experts, has completed the
establishment of a new RFID logistics company and appointed
Michael Au as CEO of the new company
named Tianjin General Shengyuan IoT Technology Co., Ltd. ("General
Shengyuan IoT").
"The team at General Steel has greatly impressed us with its
high efficiency and prompt execution," commented Michael Au, CEO of General Shengyuan IoT, "We
see great potential in RFID logistics, and I am excited to be an
integral part of General Steel's expanding business scope. General
Shengyuan IoT brings together the strength and expertise of each
partner, and with our common goal of developing and commercializing
RFID technologies and a cloud-based, Internet-of-Things platform,
we are exceedingly optimistic that General Shengyuan IoT will
deliver considerable contributions, both financially and
operationally, to General Steel."
About General Steel
General Steel Holdings, Inc. is a leading non-state-owned steel
maker headquartered in Beijing,
China. With seven million metric tons of crude steel
production capacity under management and operations in Tianjin municipality and China's Shaanxi and Guangdong provinces, the Company produces a
variety of steel products including rebar and high-speed wire.
In addition to its steel business, the Company also designs,
manufactures, and integrates radio frequency identification
("RFID") systems. The Company's RFID technology provides real-time
data on supplies, inventory, and goods, thereby greatly enhancing
its customers' administration and planning processes, as well as,
asset tracking and supply chain management.
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
investor.relations@gshi-steel.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, including those disclosed in the Company's most recent
Annual Report on Form 10-K, filed with the United States Securities
and Exchange Commission. 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.
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
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SOURCE General Steel Holdings, Inc.