Sutor Technology Group Appoints New Chief Financial Officer
CHANGSHU, China, Dec. 17, 2012
CHANGSHU, China, Dec. 17, 2012 /PRNewswire-FirstCall/ -- Sutor Technology
Group Limited (the "Company" or "Sutor") (Nasdaq: SUTR), a leading China-based
manufacturer and distributor of high-end fine finished steel products and
welded steel pipes used by a variety of downstream applications, today
announced that it has appointed Naijiang (Eric) Zhou as its Chief Financial
Officer, effective December 14, 2012.
Over the last three years, Mr. Zhou has served as the Vice President of
Finance of Sutor Technology Group. Before that, Mr. Zhou worked for Rich
Fields Investment, Roth Capital Partners, American Electric Power, The Wing
Group and U.S. Global Investors in various capacities including executive vice
president & chief financial officer, research analyst, financial analyst and
principal financial planner. He has more than 15 years of professional
experience covering private equity and mutual fund investment, equity research
and Fortune 500 corporate financial planning and analysis in the U.S. and in
Mr. Zhou received a Ph.D. in Energy and Mineral Resources and an MBA in
Finance degree from the University of Texas at Austin, and a B.Sc. in
Petroleum Engineering from China Petroleum University. He holds the Chartered
Financial Analyst (CFA) designation.
Yongfei Jiang resigned as the Chief Financial Officer, Treasurer and Secretary
of Sutor Technology Group, effective December 14, 2012. Mr. Jiang will
continue to work for Sutor Technology Group and will be responsible for
planning and supervising the corporate development and strategies. His
resignation is not the result of any disagreement with the Company on any
matter relating to its operations, policies or practices. Mr. Zhuo (Jason)
Wang, currently the Director of Investor Relations, was appointed as Treasurer
and Secretary of Sutor Technology Group, effective December 14, 2012.
About Sutor Technology Group Limited
Sutor is a leading China-based non-state-owned manufacturer and distributor of
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. These products are used for household appliances, solar
water heaters, automobiles, information technology, construction, and other
applications. Currently Sutor has three major operating subsidiaries located
in two provinces with 12 production lines capable of processing approximately
2 million metric tons of steel products annually. To learn more about the
company, please visit http://www.sutorcn.com/en/index.php.
This press release includes certain statements that are not descriptions of
historical facts, but are forward-looking statements. 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. 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, 2012,
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 Company assumes no obligation and
does not intend to update any forward-looking statements, except as required
For more information, please contact:
Jason Wang, Director of IR Lena Cati, IR Representative
Sutor Technology Group Limited The Equity Group
Tel: +86-512-5268-0988 Tel: +1-212 836-9611
Email: firstname.lastname@example.org Email: email@example.com
SOURCE Sutor Technology Group Limited
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