omniture

Deli Solar, Inc. Appoints Mr. Gary Lam as Chief Financial Officer

2007-11-02 06:02 1046

Additionally appoints Mr. Kevin Randolph to the Board of Directors

LOS ANGELES and BEIJING, Nov. 2 /Xinhua-PRNewswire-FirstCall/ -- Deli Solar (USA), Inc. (OTC Bulletin Board: DLSL), a premier seller and distributor of solar water heaters, renewable energy solutions, and space heating devices in the People's Republic of China (the "PRC"), yesterday announced the appointment of Mr. Gary Lam to the position of Chief Financial Officer and Mr. Kevin Randolph to the Board of Directors.

Mr. Lam replaces Jianmin Li, who resigned the position of Chief Financial Officer effective November 1, 2007 to assume a position with a private company.

Mr. Lam, age 53, has extensive experience in finance with more than twenty years of experience in treasury management serving various foreign banks and has more than six years of experience in corporate finance. He served as the CFO of Telecom Communications Inc. from 2003 through 2005, and most recently served as the CFO of Mobile Entertainment Inc. Mr. Lam is also an affiliated member of Hong Kong Securities Institute (HKSI). He holds a bachelors degree in Business Administration from the University of Windsor, Canada.

Mr. Randolph, age 58, is the founder, president and CEO of Randolphs.com, LLC, a company that provides interim management, strategic/market/product planning and other services. From 1998 to 2000, he was President and CEO of Asia Online, Ltd., headquartered in Hong Kong, which provides Internet service, web development, web hosting and system integration services in 12 countries throughout Asia Pacific. He graduated from Washington State University with a degree in Business Administration, majoring in Marketing and Electrical Engineering.

Mr. Deli Du, Chief Executive Officer, said, "We are very pleased to have Mr. Lam join as our new CFO. He is a proven leader with extensive corporate finance experience and expertise in developing strategic business plans. We are confident that he will be a valuable addition to our senior executive team and look forward to leveraging his skill set as we continue to grow our business, both organically and through targeted acquisitions."

"In addition we are pleased to welcome Mr. Randolph to the board of directors. His background as a Chief Executive Officer in a variety of Asian companies will complement the Board’s composition. We are confident that both of the new appointments will help create a stronger organization and help facilitate our future growth," concluded Mr. Du.

Mr. Du continued, "We wish to thank Jianmin Li for his substantial contributions to Deli Solar. Mr. Li joined Deli Solar in 2005 and helped the Company put the financial systems in place that enabled us to expand our business opportunities. We wish him the best in his future endeavors."

About Deli Solar (USA), Inc.

Deli Solar (USA), Inc. operates through its wholly owned subsidiaries Bazhou Deli Solar Energy Heating Co. Ltd. ("Deli Solar (Bazhou)"), Beijing Deli Solar Technology Development Co., Ltd. and its 51% ownership in Tianjin Huaneng Group, all located in the PRC. The Company sells and distributes hot water and space heating devices to customers in the PRC, in addition to waste heat recovery systems. For more information, please visit http://www.delisolar.com.

Safe Harbor Statement:

Certain statements in this news release may contain forward-looking information about Deli Solar (USA), Inc. and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, market and customer acceptance and demand for products, ability to market products, fluctuations in foreign currency markets, the use of estimates in the preparation of financial statements, the impact of competitive products and pricing, the ability to develop and launch new products on a timely basis, the regulatory environment, fluctuations in operating results, 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. Deli Solar (USA), Inc. undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Source: Deli Solar (USA), Inc.
Keywords: Oil/Energy
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