DALIAN, China, Jan. 24 /Xinhua-PRNewswire/ -- Fushi Copperweld, Inc. (Nasdaq: FSIN), the leading global manufacturer of bimetallic wire used in a variety of telecommunication, power transmission and other electrical products, today announced the promotion of Chris Wang to President. Mr. Wang will also become a member of the Company’s Board of Directors and will continue in his role as Chief Financial Officer for Fushi Copperweld. Mr. Wang succeeds Yue (Mathus) Yang who is stepping down as President and a member of the Board of Directors to pursue other initiatives.
Mr. Li Fu, Chairman and CEO of Fushi International commented, “We welcome Chris to his expanded role at Fushi Copperweld. Chris’ strong leadership has been a driving force behind our Company’s success. In addition to his strong financial acumen, he has a deep base of knowledge with operations, key customers, suppliers and employees. He will be of tremendous value in these new positions with Fushi Copperweld. I look forward to working with Chris in his expanded role and am confident he can help us achieve our goal of further profitable growth in our business.”
Mr. Fu continued, “We are very grateful to Mathus Yang for his years of dedicated service to our Company during which he helped grow and manage our business which contributed significantly to our success. We wish him well in his future endeavors.”
“I have had an interesting and truly enjoyable three years with the company,” said Mr. Yang. “The Fushi team has accomplished great things for the company, shareholders and our partners. I believe the organization, the people, who make up the Fushi family will continue to be successful in the future. I look forward to shifting my career in a different direction and pursuing other opportunities.”
About Fushi Copperweld
Fushi Copperweld, Inc., through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co. Ltd. and Copperweld Bimetallics, LLC, manufactures bimetallic composite wire products, principally copper-clad aluminum (‘‘CCA’’) and copper-clad steel ("CCS") wire. CCA and CCS wire offers greater value than solid copper wire in a wide variety of applications such as coaxial cable for cable television (CATV), signal transmission lines for telecommunication networks, distribution lines for electricity, electrical transformers, wire components for electronic instruments and devices, utilities, appliances, automotive, building wire, and other industrial wire. For more information on Fushi Copperweld, visit the Company’s website: http://www.fushiinternational.com/
Safe Harbor Statement
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward- looking statements can be identified by the use of forward-looking terminology such as ‘‘will’’ ‘‘believes’’, ‘‘expects’’ or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect.
All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10- K, and our subsequent SEC filings. 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 .
For more information, please contact:
Nathan Anderson
Director of Investor Relations
Fushi Copperweld, Inc.
Email: ir@fushicopperweld.com
Bill Zima & Ashley Ammon MacFarlane
ICR, Inc.
Tel: +1-203-682-8200