BEIJING, June 2, 2011 /PRNewswire-Asia/ -- Fuwei Films (Holding) Co., Ltd. (NASDAQ:FFHL)("Fuwei Films" or the "Company"), a manufacturer and distributor of high-quality BOPET films in China, today announced that its wholly-owned subsidiary Fuwei Films (Shandong) Co., Ltd. ("Shandong Fuwei") was granted two new patents.
Since 2011, Shandong Fuwei has obtained the authorization notice from State Intellectual Property Office of PRC regarding its two new patents of heat sealable polyester films. These two patents mainly involve a new application of heat sealable BOPET films, which overcomes the adhesion problems between polyester films and fiber reinforced plastic, resulting in better cohesion between polyester films and capacitor shell while still permitting external printing on capacitors.
Shandong Fuwei has made significant achievements in both R & D of new products and patent applications in the past three years. From 2009 to 2010, Shandong Fuwei was granted five patents from the State Intellectual Property Office of PRC with 7 pending patents, including four design patents and three utility patents mainly for new products and processes.
"We are pleased with the recent progress in our patent filing. We have always focused on R & D as well as investment into new products. We will continue to implement the product differentiation strategy in the future, and advocate R & D and commercialization of new products to enhance the competitive advantages of the Company," said Mr. Xiaoan He, Chairman and CEO of the Company.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned subsidiary, Fuwei Films (Shandong) Co., Ltd. ("Shandong Fuwei"). Shandong Fuwei develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, otherwise known as BOPET film (biaxially oriented polyethylene terephthalate). Fuwei's BOPET film is widely used to package food, medicine, cosmetics, tobacco, and alcohol, as well as in the imaging, electronics, and magnetic products industries.
Safe Harbor
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission which, among other things, include competition in the BOPET film industry; growth of, and risks inherent in, the BOPET film industry in China; uncertainty as to future profitability and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms, particularly in view of the volatility in the prices of petroleum products in recent years. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of the risk factors.
