DALIAN, China, May 19 /Xinhua-PRNewswire-FirstCall/ -- Fushi Copperweld, Inc. (Nasdaq: FSIN), the leading global manufacturer of bimetallic wire used in a variety of telecommunication, utility, automotive and other electrical applications, today announced that its application to list the Company’s common stock on The Nasdaq Global Select Market has been approved. Accordingly, Fushi Copperweld’s shares will be transferred to the Global Select Market at the opening of business today, May 19, 2008.
Commenting on the approval letter, Chris Wang, President and Chief Financial Officer commented, "We are delighted that our stock will now be trading on the top tier of the Nasdaq Stock Market. Moving to NASDAQ’s Global Select Market reflects our continued growth and financial strength. We believe this move will help Fushi Copperweld increase its visibility and standing in the investment community."
About Fushi Copperweld
Fushi Copperweld, Inc. through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co, Ltd., and Copperweld Bimetallics, LLC, manufactures bimetallic composite wire products, principally copper-clad aluminum wires ("CCA") and copper-clad steel (“CCS”). CCA and CCS wire offers greater value than solid copper wire in a wide variety of applications such as coaxial cable for cable television (CATV), 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 wire. For more information on Fushi Copperweld, visit the Company’s website: http://www.fushicopperweld.com .
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements.
Forward-looking statements can be identified by the use of forward-looking terminology such as “will” “believes”, “expects” or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect.
All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. 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 .
For more information, please contact:
Nathan Anderson
Director of IR & Corporate Development
Fushi Copperweld, Inc.
Email: ir@fushicopperweld.com
Bill Zima & Ashley Ammon MacFarlane
ICR, Inc.
Tel: +1-203-682-8200