TAIYUAN, Shanxi, China, March 12 /PRNewswire-Asia-FirstCall/ -- Puda Coal, Inc. (OTC Bulletin Board: PUDC), a supplier of China's high grade metallurgical coking coal used to make coke for the purposes of steel manufacturing, today announced that the Company had appointed Mr. Pengxiang Lang as its new chief operating officer ("COO"), effective March 6, 2009. He replaces Mr. Wenwei Tian, the Company's former COO and director of investor relations, who resigned on the same day. Ms. Laby Wu, Puda Coal's chief financial officer, will serve as the director of investor relations and be the company's primary investor relations contact.
Prior to his appointment, Mr. Lang served as vice president of Shanxi Puda Coal, an operating subsidiary owned 90% by the company, since 2002. From 2000 to 2002, he was general manager of Rudi Science Industry & Trade Co., Ltd. Prior to that, he served as the representative officer of Shanxi Coking Coal Group's Tianjian Representative Office and vice general manager of Shanxi Coking Coal Group's Taiyuan subsidiary. Mr. Lang obtained his Master of Business Administration from Tianjin Commercial College.
"We are delighted to appoint Mr. Lang as our new COO. We welcome his knowledge in the coal industry and believe he will be a valuable resource as we execute our growth strategy," said Mr. Liping Zhu, President and CEO of Puda Coal. "Meanwhile, we would like to take this opportunity to thank Mr. Wenwei Tian for his contributions to Puda Coal and wish him well in his future endeavors."
Commenting on his new role, Mr. Lang said "I am honored to accept this new role and look forward to working closely with the management team to continue to execute our business strategies."
About Puda Coal, Inc.
Puda Coal, through its subsidiaries, supplies premium grade coking coal to the steel making industry in China for use in making coke. The Company currently possesses 3.5 million metric tons of annual coking coal cleaning capacity. Shanxi Province provides 20-25% of China's coal output and supplies nearly 50% of China's coke. For more information, please visit http://www.pudacoalinc.com/ .
FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on
forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. For example, it is uncertain how well and how quickly our new COO will adapt to his new position and work with the board and the existing management team. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For more information, please contact:
Investor Relations Contact:
Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
Company Contact:
Laby Wu, Chief Financial Officer
Director of Investor Relations
Puda Coal, Inc.
Tel: +86-10-6439-2405
Email: labywu@gmail.com
Web: http://www.pudacoalinc.com
