Company Expects to Commence Nasdaq Trading on August 31, 2007
DALIAN, China, Aug. 22 /Xinhua-PRNewswire/ -- Fushi International, Inc., (OTC Bulletin Board: FSIN), a low-cost, leading Chinese manufacturer of bimetallic wire used in a variety of communication, transmission and other electrical products, announced today it has received approval for listing on the Nasdaq Global Market. The Company anticipates its shares of common stock will begin trading on the Nasdaq Global Market under its current symbol 'FSIN' on August 31, 2007. Until that time, the Company's shares will continue to trade on the OTC BB.
"We are proud to be among a very select group of China-based companies to list on the Nasdaq. We expect this event to raise our visibility in the global financial markets. By transferring to the consolidated trading platform at the Nasdaq, we believe we can achieve greater price efficiency which will ultimately more accurately reflect shareholder value," said Mr. Li Fu, Chairman and CEO of Fushi International. "We thank our partners for the important role they played in our evolution. We are excited to move into the new chapter in our company's history."
Fushi International, through its wholly-owned subsidiary, Fushi International (Dalian) Bimetallic Cable Co., Ltd, manufactures bimetallic composite wire products, principally copper clad aluminum wires ("CCA"). CCA 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 and various video and data applications, signal transmission lines for telecommunication networks, distribution lines for electricity, electrical transformers, wire components for electronic instruments and devices, utilities, appliances, automotive, building wire and other industrial wires. For more information on Fushi, visit the website: http://www.fushiinternational.com .
Safe Harbor Statement
This press release may contain forward-looking statements concerning Fushi International, Inc.'s business and products. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. Fushi International, Inc. undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
