Members Bring Industry Experience in the Fire Protection, Corporate Governance and Accounting Sectors
BEIJING, April 17 /Xinhua-PRNewswire/ -- China Fire & Security Group, Inc. (OTC Bulletin Board: CFSG) "China Fire", a leading industrial fire protection products and solutions provider in China, today announced the appointment of four new members to its board of directors, Mr. Gene Michael Bennett, Ms. Tieying Guo, Mr. Guoyou Zhang and Mr. Yushen Liu.
Mr. Bennett's career includes extensive financial and accounting experience as a Chief Financial Officer and corporate consultant. From 2000 to 2004, Mr. Bennett, age 59, was the Partner of ProCFO, a California based firm providing contract CFO services for high tech firms in the US. Currently, Mr. Bennett as a CPA and Partner of Nexis Investment Consulting Corporation has been working as a corporate consultant in Beijing where he his assisting in bringing China-based companies up the US standard in various areas including Corporate governance, Internal Control and accounting transparency. In addition to his appointment on the board Mr. Bennett has been named Chairman of the Audit Committee. Mr. Bennett received a law degree from University of Michigan, and a bachelor's degree in Accounting and an MBA degree both from Michigan State University.
Mr. Zhang is currently the Vice President of Beijing University and the director of the Institute of International Business Management, Beijing University. Professor Zhang, age 57, has extensive experience in economics and business management and has written and/or edited many published articles and books over the past 20 years. In addition to his appointment on the board he has been named Chairman of the Compensation Committee. Professor Zhang has been teaching in Beijing University since 1976 while receiving his Ph.D degree in Economics from Beijing University in 1991.
Ms. Tieying Guo, age 48, is the current president of China Fire and Security Group and has served her position since July 2006. Ms. Guo has over 20 years of experience in China's Fire Protection Industry, including a job with the Ministry of Public Security. Before coming to China Fire and Security, Ms. Guo was Executive Vice President for China Fire Enterprises, a fire protection equipment and engineering company in China that has been listed on the Hong Kong Stock Exchange since 2002. During her tenure, she helped provide strategic guidance in M&A activities. From 2000 to 2004, Ms. Guo held management positions with China Huandao Group, the company which, at one point, owned almost all of the largest state-owned fire protection companies in China.
Mr. Yushen Liu, age 63, has over 40 years of experience in the Petrochemical fire protection industry. Mr. Liu is also the current chairman of the Fire Expert Committee of PetroChina and is recognized by the State Department as a National Safe Production Expert. He is a renowned technical expert in PetroChina's Safe Production Standards Committee and has helped extinguish more than 3000 fires, 400 of which were classified as severe fire hazards. He has authored three national standards and has drafted and reviewed various chapters of China Fire Codes. In the past, Mr. Liu was the Fire Chief of Daqing Oil Stock Company, a subsidiary of PetroChina. Mr. Liu received a Bachelor's Degree in Fire Protection Engineering from the Chinese People's Armed Police Force Academy in 1988.
"We are pleased with the recent additions to our board and believe each of their respective industry experience will be invaluable to China Fire as we evolve as a U.S. publicly traded company," commented Mr. Brian Lin, CEO of China Fire. "With this now complete the majority of our directors are independent and we are currently applying to list the Company's shares on the Nasdaq Capital Market which we believe will lead to increased visibility for the Company."
About China Fire & Security Group, Inc.
China Fire & Security Group, Inc., through its wholly owned subsidiaries, Sureland Industrial Fire Safety Limited ("Sureland") and Sureland Industrial Fire Equipment (Beijing) Limited ("Sureland Equipment"), is engaged primarily in the design, development, manufacture and sale in China of a variety of fire safety products for the industrial fire safety market and the design and installation of industrial fire safety systems in which it uses its own fire safety products. It also provides maintenance services for customers of its industrial fire safety systems.
Headquartered in Beijing with over 30 sales and project offices throughout China, Sureland markets its industrial fire safety products and systems primarily to major companies in the iron and steel, power and petrochemical industries in China. It is developing and expanding its business in other industrial sectors including transportation, wine and tobacco, vessels, nuclear energy, and public space markets.
Cautionary Statement Regarding Forward Looking Information
This presentation may contain forward-looking information about China Fire & Security Group, Inc. and its wholly owned subsidiary Sureland which are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward- looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Fire & Security Groups' future performance, operations and products. This and other ''Risk Factors'' contained in China Fire & Security Groups' public filings with the SEC.
