CHANGSHU, China, Oct. 30, 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, today announced that
ArcelorMittal Steel Group ( "ArcelorMittal" ) visited Sutor
recently and reached an agreement with Sutor for business
cooperation.
ArcelorMittal, headquartered in Luxembourg, is the largest steel producer in
the world. Its business covers both developed and emerging steel
markets globally. ArcelorMittal is interested in exploring the
rapidly growing Chinese market. During their visit of Sutor's
production facilities, the representatives from ArcelorMittal
showed strong interests in Sutor's products. The representatives of
ArcelorMittal were impressed with Sutor's techniques and quality of
products. They believed that our galvanized steel products would be
complementary with their products.
Lifang Chen, Chairwoman and CEO
of Sutor commented, "Market and cooperative partners are direct
judges of enterprise products and services. To provide the top
quality fine finished steel products and services has always been
the goal of Sutor in the past ten more years. For us, in an
industry with weak demands, we believe we have more opportunities
than challenges. We are glad to receive ArcelorMittal's
acknowledgment and believe we will be mutually benefited from
future business cooperation."
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 the market for our products,
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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SOURCE Sutor Steel Technology Co., Ltd.
