CHANGSHA, China, July 1 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC), a China-based manufacturer of engineered vehicle body structures ("EVBS" or "truck cabs"), today announced that the Company has filed a form 12b-25 with the SEC providing the Company with an extension to file its 20-F for the year ending December 31, 2009.
SEC Form 12b-25 filed on June 30, 2010 states, "The Company's independent auditor, BDO Seidman LLP, is still in the process of completing its documentation and review process." Under the rules of the 12b-25 filing, Tongxin has 15 calendar days to file its year end 2009 20F report. The management of Tongxin will provide further detail and update to the timing of its 20F report, press release and conference call at a later date.
About Tongxin International Ltd.
Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.
FORWARD LOOKING STATEMENTS
Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
For more information, please contact:
COMPANY:
Mr. Rudy Wilson, CEO
Tel: +1-248-593-8330
Email: rudy@txicint.com
Ms. Jackie Chang, CFO
Tel: +1-248-593-8330
China: +86-13467553808
Email: jackie@txicint.com
Web: http://www.txicint.com
