DALIAN, China, Jan. 18 /Xinhua-PRNewswire/ -- Fushi International, Inc., the leading global manufacturer of bimetallic wire used in a variety of telecommunication, power transmission and other electrical products, today announced that the Company’s Board of Director’s approved a name change to Fushi Copperweld, Inc. (Nasdaq: FSIN).
Fushi International, Inc., which is the leading Chinese manufacturer of bimetallic wire, purchased Copperweld Bimetallics, LLC., the leading North American manufacturing of bimetallic wire located in Fayetteville, Tenn., on October 29, 2007. Changing the name to Fushi Copperweld more appropriately reflects the Company’s diverse and branded product line.
“The Fushi Copperweld name is more appropriate for our company given that Copperweld is the single most recognized brand in the bimetallics industry worldwide,” said Fu Li, Chairman and CEO of Fushi Copperweld. “The combination of Fushi and Copperweld creates the world’s largest manufacturer and vendor of bimetallic wire and our new corporate identity better reflects our mission to further enhance our position in the global marketplace.”
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 that 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 International, 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
Integrated Corporate Relations
Tel: +1-203-682-8200
