YIYANG, China, May 1 /Xinhua-PRNewswire-FirstCall/ -- Fuda Faucet Works, Inc. (OTC Bulletin Board: FUFW) ("Fuda Faucet" or "the Company"), a Chinese company engaged in the business of developing, manufacturing, marketing and distributing mid-tier European style brass faucets, spouts and fittings to the international markets, today announced that it has completed the equipment installation phase at its new manufacturing facility and will start production at the new facility immediately.
In April 2008, Fuda Faucet started operations at its new manufacturing facility, located in Yiyang, Jiangxi Province, Peoples Republic of China. The new facility measures 229,703 square feet and is equipped with semi-automated, state of the art manufacturing equipment, and has employed 300 personnel. With the addition of the new operating facility, the company will increase its production capacity from 1.2 million sets per year to 3.5 million sets per year. The facility will produce the same types of products that are currently being produced at the rest of the company's manufacturing facilities.
"We are very pleased to announce that we have started production at our new facility and the operation is running smoothly, as had been anticipated. Our capacity expansion is a direct result not only of our meeting the current demand for our products but also for the anticipated growth in sales as we seek to expand the market for our products in Europe." said Ms. Yiting Wu, Chief Executive Officer of Fuda Faucet.
About Fuda Faucet Works, Inc.
Jiangxi Yiyang Fuda Copper Co., Ltd. was founded by Ms. Wu Yiting, in Yiyang County, Jiangxi Province of the People's Republic of China, in November 1995. When Fuda started its operations in 1995, its business comprised of copper re-processing. In 2002, the Company started production of European style brass faucets and related spouts and fittings for the Chinese market. By 2004, Fuda started selling its products to international markets. Presently, Fuda Faucet engages in the business of developing, manufacturing, marketing and distributing a wide range of brass faucets and related spouts and fittings. The products are manufactured by Fuda for Fuda Faucet. The Company manufactures all its products in China and exports most of them to international markets.
Safe Harbor Statement
This announcement contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the company's ability to obtain the necessary financing to continue and expand operations, to market its products in new markets and to offer products at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems; compliance with laws and regulations of the PRC, the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Fuda Faucet Works, Inc. CCG Elite Investor Relations
Ms. Yiting Wu, CEO Mr. Crocker Coulson, President
Phone: +86 793-588-7178 Phone: +1-646-213-1915
Email: wyt1645@163.com Email: crocker.coulson@ccgir.com
