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
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