CHANGSHU, China, June 15, 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, today
announces that Ningbo Zhehua Heavy Steel Pipe Manufacturing Co.,
Ltd. ("Ningbo Zhehua"), a subsidiary of Sutor, has successfully
completed the trial production of its two precision cold rolling
processing production lines, which have the processing capacity of
100,000 and 200,000 metric tons respectively.
Lifang Chen, Chairwoman and CEO
of Sutor commented, "With the Company's transformation and
upgrading, we will provide customers with diversified and
customized products and services. According to customers' feedback
on our products and services, most of our steel pipe customers need
processing services of cold rolled products such as shearing and
cutting services. Therefore, to meet customers' requirements and to
expand the current pipe manufacturing business, Ningbo Zhehua
introduced two precision cold rolling processing production
lines."
"We view the successful trial production of two processing
production lines as validation of Sutor's focus and professionalism
in the fine finished steel industry. We believe these two
processing lines will supplement our current steel pipe business,
which can greatly improve customer satisfaction and increase
customer loyalty in the future,"
Ms. Chen concluded.
About Sutor Technology Group Limited
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. In addition, the Company offers
fee-based steel processing services and sells fine finished steel
products through electronic commerce platforms. 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. These statements are based on
beliefs and assumptions of management, which in turn are based on
currently available information. These forward-looking
statements also involve risks and uncertainties, which could cause
actual results to different materially from those contained in any
forward-looking statement. Many of these factors are beyond
our ability to control or predict. Important factors that
could cause actual results to differ materially from those
contained in any forward-looking statement include, without
limitation, uncertainties as to our future financial performance,
liquidity and strategic and operational plans, the market for our
products, and uncertainties discussed in our other reports filed
with the Securities Exchange Commission ("SEC") by the
Company. 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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sutors-subsidiary-completed-trial-production-of-two-precision-cold-rolling-processing-production-lines-300098896.html
SOURCE Sutor Technology Group Limited