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Ossen Innovation Retains HC International as Investor Relations Advisor

2011-02-14 14:47 916

SHANGHAI, Feb. 14, 2011 /PRNewswire-Asia-FirstCall/ -- Ossen Innovation Co., Ltd. ("Ossen" or the "Company") (Nasdaq: OSN), a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, announced today it has retained HC International, Inc. ("HC International") as its strategic investor relations advisor.

HC International will assist Ossen with communicating its value proposition to shareholders and investors, while broadening its presence in the financial markets. Matthew Hayden, Ted Haberfield, and the HC International team will be advising the Company in all facets of corporate and financial communications.

"With the closing of our initial public offering in December and listing on NASDAQ, partnering with a well-respected, capable investor relations firm was a logical next step. After thorough consideration, we believe that HC International's experienced team and success in providing comprehensive investor relation services to numerous Chinese companies will serve Ossen well," said Dr. Liang Tang, Chairman of Ossen. "We are confident that HC International will provide strong support in conveying our business model, growth strategy, competitive advantages, and value proposition to the investment community at large."

"Ossen Innovation's pre-stressed steel materials include high strength wires and strands coated in a proprietary rare earth and zinc formula which are primarily utilized in the construction of bridges. The Company has provided, and, is providing its products to serve several marquee projects such as the Aizhai Suspension Bridge and Lishui Grand Bridge, both located in Hunan Province, the Ningbo Yongjiang Grand Bridge and Nanjing South Railway Station, in addition to the Oakland Bay SAS Bridge in San Francisco. Over the next decade, it has been estimated that over 200 new bridges will be built in China while 400 existing bridges will need to be reinforced, creating significant demand for coated wires and strands. This includes four cross-sea bridges and tunnels, which will require approximately 8 million tons of pre-stressed materials. Currently, only four companies in China produce high-utility, specialty zinc coated wires and strands in significant volume, resulting in significant excess demand and high margins for suppliers like Ossen. Ossen will allocate capital from its recent IPO to expand capacity of these specialty wires and strands. Furthermore, the Company believes that it is the only supplier utilizing rare earth coating technology for the products and is well positioned to gain market share as it has been estimated that China will spend nearly $1 trillion on transportation infrastructure, with $165 billion allocated to highways and $730 billion to railways. Given the long lead time for infrastructure projects, Ossen has excellent visibility into its order backlog and estimated revenue," said Matthew Hayden, President of HC International, Inc. "We look forward to assisting the senior management team with all facets of its corporate communications strategy."

About Ossen Innovation Co., Ltd.

Ossen Innovation Co., Ltd. manufactures and sells a wide variety of plain surface pre-stressed steel materials and rare earth coated and zinc coated pre-stressed steel materials. The Company's products are mainly used in the construction of bridges, as well as in highways and other infrastructure projects. Ossen has two manufacturing facilities located in Maanshan, Anhui Province, and Jiujiang, Jiangxi Province, with a combined annual production capacity of 140,000 tons per year.

Safe Harbor Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company's public filings with the Securities and Exchange Commission, including the Company's registration statement on Form F-1, as amended. All information provided in this press release is as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

For more information, please contact:

 

 

 

 

Ossen Innovation Co., Ltd.

 

 

Alan Jin, Chief Financial Officer

 

 

Email: jinyilun@ossengroup.com

 

 

Phone: +86 (21) 6888-8886

 

 

Web:   http://220.178.253.10/ossen/index.html

 

 

 

 

Investor Relations

 

 

HC International

 

 

Ted Haberfield, Executive Vice President

 

 

Phone: +1-760-755-2716

 

 

Email: thaberfield@hcinternational.net

 

 

Web: www.hcinternational.net

 

 

 
Source: Ossen Innovation Co., Ltd.
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