DONGBANG TOWN, China, Dec. 23 /PRNewswire-Asia/ -- Sutor Technology Group Limited (the "Company" or "Sutor") (Nasdaq: SUTR), a leading provider of steel finishing fabrication products in China, today announced that Sutor entered into an exclusive sales agent agreement with Ukraine-China Communication Ltd., a leading steel products agent and distributor focusing on the CIS market.
Ukraine-China Communication Ltd. will act as Sutor’s exclusive sales agent in Ukraine, Russia, Belarus, Lithuania, and Estonia. Ukraine-China Communication agrees to sell a minimum of 10,000 metric tons of Sutor’s steel products in the first year of the agreement with a 10% increase in the following two years.
"We are extremely excited to fuel our global expansion strategy via a sales agency agreement with Ukraine-China Communication Ltd.," said Lifang Chen, CEO of Sutor. "Strong market demand in CIS market and prime product quality offered by Sutor are the backbone of our long-term cooperation."
About Sutor Technology Group Limited
Sutor is one of the leading private manufacturers of steel finishing fabrication products in China. Sutor utilizes a variety of processes and technological methodologies to convert steel manufactured by third parties into steel finishing fabrication products, including hot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel, and cold-rolled steel. To learn more about the Company, please visit http://www.sutorcn.com .
Forward-Looking Statements
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements. Such statements include, among others, those concerning our expected sales in Ukraine, Russia, Belarus, Lithuania, and Estonia, expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for our steel finishing fabrication products, our expectations regarding the continued growth of the steel market, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties include, but not limited to, the factors mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended June 30, 2008, and other risks mentioned in our other reports filed with the Securities Exchange Commission, or SEC. 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. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed
forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
