UCHC Appoints New CEO and CFO
SHENZHEN, China, Sept. 10, 2013 /PRNewswire/ -- Uni Core Holdings Corporation (OTC Bulletin Board: "UCHC"), a Hong Kong based holding company, announced today the resignation of Mr. James Wu and Mr. Thomas Lee from the position of CEO and CFO, respectively, with effect from August 1, 2013. The Board of Directors is excited to announce the appointment of Mr. Peng I Hsiu as the new CEO and Mr. Liu Yi Sun as the new CFO, both effective from August 1, 2013.
Mr. Peng graduated from Chinese Culture University with a Master of Business Administration. Mr. Peng is currently the founder and Managing Director of both Uwin Venture Investment Co. Ltd. and Wonderful Bio-Tec Co. Ltd. Prior to starting his own business, Mr. Peng had served various executive positions, including Director of Fast Technologies Inc. and Managing Director of Yi-Cheng Preparatory Institute.
Mr. Liu has over 15 years' experience in various industries, including investment, transportation services, banking and technology. Prior to being appointed as CFO of UCHC, Mr. Liu held various senior management positions with solid management exposure and leadership experience.
The Board of UCHC believes, with the extensive experience in the financial services sector, Mr. Peng, supported by Mr. Liu, will bring in new perspective and new strategies to rebuild the business in the very near future. It is the Board's expectation that Mr. Peng will lead UCHC to regain the strength for continuous business growth.
The Board of UCHC also re-appointed Mr. Thomas Lee as a Consultant to the Company. Mr. Lee, recently joined RDS International Holdings Limited as their CFO, and shall concentrate working on the JV between Shaanxi Prosperous Agriculture Company Limited ("SPA") and RDS with the aim to expedite the business of SPA in the coming years.
About Uni Core Holdings Corporation (UCHC.OB)
Uni Core through its subsidiaries develops, manufactures and distributes environmental friendly paper and agricultural products based upon its proprietary technology and supply chains. The Company was founded in 1998 and is headquartered in Hong Kong.
APT Paper Group, founded in November 1993, is a wholly owned subsidiary with a factory in Qingdao, China. UCHC acquired 100% of APT in June 2010. Based upon proprietary technology, production, marketing and global supply chains, APT is one of the leaders of the modern environmentally friendly packing and honeycomb paper products industry in China. APT's products are produced from recycled materials and are recyclable. APT's products include honeycomb paper pallets, honeycomb paper panels, honeycomb paper cartons, honeycomb paper coffins, honeycomb paper cushions, paper slip-sheets, paper corner protectors and corrugated paper products. APT holds patents throughout the world on many of its products. Some of APT's customers include Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, Hisense, among others.
Prosperous Agriculture, 51% of which is owned by UCHC, is headquartered in Xi'an, Shaanxi Province, China. Prosperous Agriculture manufactures and distributes agricultural brands and also establishes a national agricultural resources chain direct sales platform through the opening and acquiring of agricultural resources direct sales outlets and dealers, and by working with well-known manufacturers of agricultural products. Prosperous Agriculture integrated more than 2,000 agricultural resources.
The Joint Venture between Shaanxi Prosperous Agriculture and Jewon Mining - "Phyllite" was formed in February 2013. Jewon Mining is the mining company of Phyllite in Korea, a substance originated from a mountain in Kunsan, Korea. Phyllite, having been proved effective in decontaminating nuclear radiation, can have various applications, such as a substitute of artificial/chemical agricultural medicine, agricultural water purifier and as animal feeding material. Shaanxi Prosperous Agriculture has the knowledge of applying Phyllite in their various farm products and is awarded an exclusive agent agreement to sell Phyllite in China for 3 years.
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning business arrangements, product development activities, sales, customers, and development activities. Such forward-looking statements are sometimes identified by words of condition such as "should," "may," or "intends," and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: Impacts arising from competition, difficulties experienced in product development, roadblocks experienced in sales and marketing activities, longer than expected sales processes, difficulties in recruiting knowledgeable and experienced personnel, possible geological problems, the possibility that little or no interest will be shown in the Company or its business by financial markets, potential problems in protecting the Company's intellectual property, and problems securing the necessary financing to continue operations. Further information concerning these and other risks is included in the Company's filings with the Securities and Exchange Commission, including the Company's most recent Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2013. The Company undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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SOURCE Uni Core Holdings Corporation