CHANGSU, China, Sept. 3 /Xinhua-PRNewswire-FirstCall/ -- Sutor Technology Group, Ltd. ("Sutor") (OTC Bulletin Board: SUOT), today announced that it successfully developed antistatic color coating technology for its new product -- antistatic color coating steel strips -- in August.
The antistatic coating technology is a composition of regular varnish and conducting varnish, in a certain ratio, on pre-processed base steel through innovative baking and coating production techniques. At this point, Sutor is the sole producer of this product in China. A new variety of color coated steel is used to build production rooms for precision manufacturing devices, such as semiconductors, PC shells, operation rooms in hospitals, laboratories, etc., which require a static-free environment. Before Sutor’s development of the antistatic color coating technology, Chinese consumption relied solely on imported products.
The new products have achieved great market feedback. Sutor believes its sales will increase rapidly along with the market awareness. Ms. Lifang Chen, the Chairman of Sutor said delightedly, "It is a great achievement for our company, which increases our product pool selection, enhances our market position and proves our R&D ability once again. I want to thank our R&D staff for their hard work, and I believe our company will develop more value-added products in the future."
About Sutor Technology Group, Ltd.
Sutor Technology Group, Ltd. manufactures and sells steel finishing fabrication products through its wholly owned subsidiary Changshu Huaye Steel Strip Co., Ltd. and Jiangsu Coldrolled Technology Co., Ltd. Its products are typically used in the construction industry, widely applied in manufacturing of electrical household appliance parts and outer casings, electronics, infrastructure and large industrial equipment. Sutor has developed an extensive worldwide sales network, which allows it to effectively market products to customers.
Forward Looking Statements
This release contains certain "forward-looking statements" relating to the business of Sutor and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, and concentration in a single customer, raw material costs, market acceptance, future capital requirements, and competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the SEC. Sutor is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
