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Fushi International, Inc. Completes Several Strategic Initiatives Further Strengthening Its Position in the Chinese Bimetallic Market

2006-12-14 12:07 2139

DALIAN, China, Dec. 14 /Xinhua-PRNewswire/ -- Fushi International,

Inc., (OTC Bulletin Board: FSIN), a low cost, emerging Chinese manufacturer of

bimetallic wire used in a variety of communication, transmission and other

electrical products, today is providing an update on several key

accomplishments which occurred during November.

During the fourth quarter, management actively engaged in several events

and alliances by working closely with top government officials and

organizations to enhance the Company's position and visibility in the

bimetallic market place. Specifically, Fushi participated in a municipal

government sponsored event which promoted the use of technologically

innovative products, such as bimetallic wire, for various phases of industrial

construction. As a result, the Company secured a full endorsement and

qualification by the local government to supply bimetallic products to new

developments in the Liaoning province. Additionally, Fushi has worked closely

with the 23rd Research Institute of the Ministry of Information, the Optical

and Electronic Cable Association of China, and the WuHan High Voltage Power

Research Institute to further define a national standard for copper clad

aluminum products while further promoting the use of bimetallic wire in the

high voltage power cable and wire industries. It is estimated that annual

demand for bimetallic wire utilized for these applications will equate to over

200,000 tons by 2008, while most of these applications were not serviced by

bimetallic during 2006.

"We are actively forming relationships with key private and public

entities to increase Fushi's participation and share in the growing Chinese

bimetallic domestic market," commented Mr. Li Fu, the Chairman and Chief

Executive Officer of Fushi International. "The Chinese government is motivated

to increase the use of bimetallic wire across multiple end markets as a means

to offset rising commodity prices and valuable commodities. Driven by

continued strong domestic growth, China has been the largest copper consumer

in the world for five consecutive years, topping 3.7 million tons in 2006.

More than 70% of the consumption comes from wire and cable, particularly

serving the power industry. The Optical and Electronic Cable Association of

China estimates that 20% of the current cable and power transmission line

markets served by all copper wire will be replaced by bimetallic in the next

five years, supported by the establishment of appropriate industry standards.

We believe this initiative alone creates a significant growth opportunity for

Fushi. By promoting the use of bimetallic products the government will ensure

that manufactures and builders alike have access to key materials which will

help to sustain continued strong economic growth."

About Fushi International:

Fushi International is engaged, through their indirectly wholly-owned

operating subsidiary Dalian DPI in the manufacturing and sale of bimetallic

composite wire products, principally copper clad aluminum wires ("CCA") and

copper clad aluminum magnesium ("CCA-M"). CCA, which is the company's core

product, 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 (CATV), signal transmission lines for

telecommunication networks, distribution lines for electricity, wire

components for electronic instruments and devices. For more information on

Fushi, visit their website: http://www.fushiinternational.com/

Safe Harbor Statement:

This press release contains 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.

Source: Fushi International, Inc.
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