Tongxin International Announces Resignation of Marcus Chao From the Board of Directors
October 18 2012 - 8:17AM
Marketwired
Tongxin International Ltd. (PINKSHEETS: TXIC), a China-based
manufacturer of engineered vehicle body structures ("EVBS") and
stamped parts for the commercial automotive industry, today
announced the resignation of Marcus Chao from the Company's Board
of Directors, effective October 10, 2012. Mr. Chao joined the Board
in 2008 and has resigned for personal reasons.
Mr. Zhang Duanxiang, Chairman of the Board of the Company,
stated, "Marcus has played a valuable role within our Board for the
past five years, helping to pave the way for Tongxin's continued
growth through China's turbulent automobile market. We thank him
for his dedicated service and wish him well in his future
endeavors."
Mr. Chao's resignation brings the number of Board members to
six.
About Tongxin International Ltd. Tongxin
International Ltd., the largest independent supplier of EVBS in
China, is capable of providing EVBS for both the commercial truck
and light vehicle market segments. The Company also designs,
fabricates and tests dies used in the vehicle body structure
manufacturing process. EVBS consists of exterior body panels
including doors, floor pans, hoods, side panels and fenders.
Tongxin International Ltd. maintains a network of over 130
customers throughout 21 provinces in China. Headquartered in
Changsha, the Company also maintains regional manufacturing in
Ziyang and Zhucheng. For more information, please visit
www.txicint.com or www.hntx.com.
Forward-Looking Statements Statements
contained in this press release, which are not historical fact,
constitute Forward-Looking Statements. Actual results may differ
materially due to numerous important factors that are described in
Tongxin International Ltd.'s reports to the SEC, which may be
revised or supplemented in subsequent reports to the SEC. Such
factors include, among others, the cost and timing of implementing
restructuring actions, the Company's ability to generate cost
savings or manufacturing efficiencies to offset or exceed
contractually or competitively required price reductions or price
reductions to obtain new business, conditions in the automotive
industry, and certain global and regional economic conditions.
Tongxin International Ltd. does not intend or assume any obligation
to update any forward-looking statement to reflect events or
circumstances after the date of this press release.
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Investor Relations Contact: Stanley Wunderlich Consulting
For Strategic Growth 1, Ltd. Tel: 1-800-625-2236 ext. 7770 Email:
info@cfsg1.com Website: www.cfsg1.com Tongxin Corporate
Headquarters 199 Pierce Street Suite 202 Birmingham, MI 48009
www.txicint.com www.hntx.com
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