CHANGSHU, China, April 22, 2015 /PRNewswire/ -- Sutor
Technology Group Limited (the "Company" or "Sutor") (Nasdaq: SUTR),
one of the leading China-based
manufacturers and service providers for fine finished steel
products used by a variety of downstream applications, announced
that it completed its upgrading of 200,000 metric tons pre-painted
galvanized (the "PPGI") production line at Changshu Huaye Steel
Strip Co., Ltd, a subsidiary of Sutor, and the subsidiary is ready
to resume PPGI production immediately.
Lifang Chen, Chairwoman and CEO
of Sutor commented, "We undertook the upgrading of the PPGI
production line voluntarily. We upgraded the line to improve
production efficiency and coating utilization, thereby resulting in
energy-saving and cost-cutting. The replacement of two-roller
coating technique by three-roller coating technique will make the
surface of our new PPGI products more smooth and their painted
color brighter. We believe that these new upgraded PPGI products
will be more widely used in downstream industries such as new
energy, high-end household appliances, IT, and building
materials."
"In recent years, Sutor has been focusing on research efforts on
market segmentation of our products. Through technology and
equipment upgrading, the Company aims to add value to its
products in the long run. Relying on our own technical and R&D
teams, we provide customized products and services to target
customers. We believe product improvement and innovation are our
core competitiveness and recipe to become one of the best service
providers in fine finished steel supply chain," Ms. Chen concluded.
About Sutor Technology Group Ltd
Sutor is one of the leading China-based manufacturers and service
providers for 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. The Company also provide fee-based
steel processing services to customers, including industrial peers.
To learn more about the Company, please visit
http://www.sutorcn.com/en/index.php.
Forward-Looking Statements
This press release includes certain statements that are not
descriptions of historical facts, but are "forward-looking
statements" in nature within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements include, among
others, those concerning our expected financial performance,
liquidity and strategic and operational plans, our future operating
results, our expectations regarding the market for our products,
our expectations regarding the steel market, as well as all
assumptions, expectations, predictions, intentions or beliefs about
future events. 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, 2014, 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 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. The Company assumes no obligation and does not
intend to update any forward-looking statements, except as required
by law.
For more information, please contact:
Investor
Relations
Sutor Technology Group
Limited
Tel:
+86-512-5268-0988
Email: investor_relations@sutorcn.com
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SOURCE Sutor Steel Technology Co., Ltd.