omniture

Fushi Copperweld Appoints Joseph Longever as Chief Commercial Officer

2009-07-16 20:47 1442

DALIAN, China, July 16 /PRNewswire-Asia/ -- Fushi Copperweld, Inc., (the "Company") (Nasdaq: FSIN), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today announced the hiring of Joseph J. Longever to the newly created position of Chief Commercial Officer, effective as of July 13, 2009. In this role, Mr. Longever will be responsible for developing the global commercial strategy for bimetallic products, with a specific focus on managing and progressing the increasing level of commercial interest in Fushi Copperweld’s bimetallic products from customers in the electrical utility and transportation markets.

Mr. Longever has more than 25 years of bimetallic products experience and over 29 years of experience in sales and manufacturing management. Prior to joining the Company, Mr. Longever ran an independent consulting service which he founded in 2007. The consulting service, in collaboration with its clients’ strategic initiatives, directed all global activity including sales, marketing, supply chain development and management for a very diverse group of clients.

From 1999 to 2007 Mr. Longever held various Senior Management, Sales, Marketing and Operation positions within Copperweld Bimetallics ("Copperweld"), the Company’s U.S. subsidiary, including Vice President and Chief Operating Officer. In his tenure with Copperweld, Mr. Longever played a central role in managing the operations and strategy of the Company with specific focus on global sales and corporate strategy. Among the key initiatives he led were the reorganization and redeployment of global sales assets during the 2001 telecommunications meltdown when Copperweld saw 85% of its revenues and profits derived from this market. As a result, Copperweld began to produce a product that served an alternative market segment, including new product applications, which generated new sales volume recovering approximately 30% of lost revenue while improving margins by 10%.

Mr. Longever has also served as Executive Vice President and General Manager at Crest Manufacturing Company; and held sales management roles at Texas Instruments. Mr. Longever, 56, holds a Bachelor’s degree in Business Administration from the Nathaniel Hawthorne College in New Hampshire.

"We are extremely pleased to add an individual of Joe’s caliber to our management team," said Fu Li, Chairman and CEO at Fushi Copperweld. "Joe is very familiar with our operations and has a proven track record of developing markets for bimetallic products in a wide range of applications throughout the world. Joe’s depth of experience in the bimetallic industry and strong leadership skills make him ideally suited to lead our global commercialization efforts and having him on board will further strengthen the Fushi Copperweld leadership team."

Mr. Longever commented, "Fushi Copperweld has always been at the forefront of bimetallic innovation and is a well-positioned leader in the bimetallics industry. With its industry leading technologies, unique products, financial strength and strong market presence, Fushi Copperweld’s growth opportunities are second to none and I am thrilled to be returning at such a transformative time for our businesses across the globe."

About Fushi Copperweld, Inc.

Fushi Copperweld, Inc. through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co, Ltd., and Copperweld Bimetallics, LLC, is the leading manufacturer and innovator of copper-clad bi-metallic engineered conductor products used in the electrical, telecommunications, transportation, utilities and industrial industries. With extensive design and production capabilities and a long-standing dedication to customer service, Fushi Copperweld, Inc. is the preferred choice bi-metallic products world-wide. For more information, visit: http://www.fushicopperweld.com .

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements.

Forward-looking statements can be identified by the use of forward-looking terminology such as "will" "believes", "expects" or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC’s electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.

For more information, please contact:

Nathan Anderson

Vice President of Investor Relations

Fushi Copperweld, Inc.

Email: IR@fushicopperweld.com

Tel: +1-931-433-0482

Source: Fushi Copperweld, Inc.
Related Stocks:
NASDAQ:FSIN
collection