CHANGSHU, China, December 16, 2015 /PRNewswire/ -- Sutor Technology Group Limited (the "Company" or "Sutor") (Nasdaq: TOR), one of the leading China-based manufacturers and customized service providers for fine finished steel products used by a variety of downstream applications, announced that it succeeded in its trial production of self-developed pre-painted cold-rolled steel ("PPCR steel"). The new developed PPCR steel will meet all color painting and future deep stamping process requirements.
With environmental requirements becoming more and more strict in China's more developed regions, Sutor developed the PPCR steel aiming to replace the existing technology used in some industries where paints are mainly sprayed on cold-rolled steel, which will significantly improve pollution issues associated with the existing old-style technology. The newly developed PPCR steel is a pre-painted product based on cold-rolled steel. It not only provides bright and smooth surface, but also preserves cold-rolled steel's future processing capability. PPCR steel will maintain its originally painted color under 180 degree's cold bending and meet future deep stamping process requirements. This new PPCR steel products can be used specifically in metal barrels, or more broadly in isolation materials, door sheets and other interior decoration areas.
Ms. Lifang Chen, Chairwoman and CEO of Sutor commented, "As part of our continuing efforts to strengthening our Company's operating philosophy 'Green Manufacturing', we are not only committed to energy conservation and environment protection in our own daily operations, but also make efforts to improve the whole industry. We believe, solid technology and creativity are foundation for enterprise competitiveness and success."
About Sutor Technology Group Ltd
Sutor is one of the leading China-based manufacturers and customized service providers for high-end fine finished steel products and welded steel pipes used by a variety of downstream applications. The Company utilizes a variety of in-house developed processes and technologies to convert steel manufactured by third parties into fine finished steel products, including hot-dip galvanized steel, pre-painted galvanized steel, acid-pickled steel, cold-rolled steel and welded steel pipe products. The Company also provides fee-based steel processing services to customers, including industrial peers. To learn more about the Company, please visit http://www.sutorcn.com/en/index.php.
Forward-Looking Statements
This press release includes certain statements that are not descriptions of historical facts, but are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, those concerning our expected financial performance, liquidity and strategic and operational plans, our future operating results, our expectations regarding our product PPCR, our expectations regarding 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, 2014, and other risks mentioned in our other reports filed with the Securities Exchange Commission ("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.
For more information, please contact:
Investor Relations
Sutor Technology Group Limited
Tel: +86-512-5268-0988
Email: investor_relations@sutorcn.com
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