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.
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:
Sutor Technology Group Limited
Email: [email protected]
SOURCE Sutor Steel Technology Co., Ltd.