Adds Three Independent Board Members
NEW YORK, June 20 /Xinhua-PRNewswire/ -- Fushi International, Inc. (OTC Bulletin Board: FSIN) announced today that it has enhanced the composition of its Board of Directors with the appointment of three independent members, effective immediately. The newly appointed independent Board Members include Mr. Feng Bai, Mr. Jiping Hua and Mr. Barry Raeburn. Together these individuals bring significant investment banking, accounting and corporate finance, and research and development expertise to the Company.
Mr. Bai is the Founder and Managing Director of Lighthouse Consulting, Ltd. a firm recognized for advising cross border transactions between U.S. and Chinese enterprises. Since 1999, Mr. Bai has been doing business in China mainly in consulting, investment and distribution. From 1997 to 1999, he worked in the investment-banking division of Banco Santander in Asia. Mr. Bai also currently sits on the Board of Directors at Harbin Electric, Inc. Mr. Bai received his MBA degree from Harvard Business School in 1997 and graduated from Babson College in 1993 with a BS in Finance/Investment and International Business Administration.
Mr. Hua has been Chairman of the China Optical & Electrical Cable Association since 2000 and is a preeminent expert of the wire and cable industry in the People's Republic of China. He brings to Fushi over 40 years of experience focused on the research and development of special cable and new materials applications. Receiving numerous national and ministry-level awards over the years, Mr. Hua has been awarded the prestigious title of "Expert with Outstanding Contributions" by the Ministry of Electrical Industry of China. Mr. Hua graduated from the Shanghai Jiao Tong University in 1962 with a BS in Electrical Engineering.
Mr. Raeburn has served as Executive Vice President of Finance and Corporate Development at Harbin Electric, Inc. since 2005. Mr. Raeburn holds considerable expertise in corporate finance, mergers and acquisitions, and corporate risk management. During his tenure at Harbin Electric, he successfully has led the Company to publicly list its common shares on the NASDAQ Stock exchange, as well as currently provides key leadership in investor and public relations, SEC compliance, corporate governance, and administration. Prior to joining Harbin Electric, Inc., Mr. Raeburn worked as a specialty technology analyst at an investment bank covering early stage companies within multiple industries. Mr. Raeburn also spent over 6 years as a financial analyst responsible for developing various quantitative ranking models and analyzing equity investments. Mr. Raeburn graduated in 1996 with his BBA degree in Finance and Risk Management from Temple University.
Li Fu, Chairman and Chief Executive Officer of Fushi International commented, "We are delighted to welcome these three professionals to our Board, all of whom have proven business acumen, vast industry experience and depth of understanding of the U.S. capital markets. We look forward to their contributions to Fushi International as we pursue our business objectives and build shareholder value over time."
About Fushi International, Inc.
Fushi International, Inc., through its wholly owned subsidiary, Fushi International (Dalian), manufactures bimetallic composite wire products. Copper clad aluminum wires ("CCA"), the company's core product, combines the conductivity and corrosion resistance of copper with the light weight and relatively low cost of aluminum. It is a cost-effective substitute for single copper wire in a wide variety of applications such as coaxial cable for cable television (CATV), signal transmission lines for telecommunication networks, distribution lines for electricity, wire components for electronic instruments and devices. For more information on Fushi, visit the website: http://www.fushiinternational.com/
For further information, please contact:
Nathan Anderson
Director of Investor Relations
Tel: +86-10-8447-8292
Email: nathan.anderson@fushiinternational.com
