FAYETTEVILLE, Tenn. , Dec. 21, 2010 /PRNewswire-Asia-FirstCall/ -- Fushi Copperweld Inc. (Nasdaq: FSIN) is pleased to announce the launch of Copperweld® HIDE™, a new product designed to combat the rising theft of copper wire in industrial applications.
Copperweld® HIDE™ is a copper-clad steel wire jacketed in a steel-grey colored PVC coating. It performs the same function as pure copper wire in electrical grounding, railroad signaling and many other applications highly exposed to theft, but it is primarily made of steel, and as such, of minimal scrap value to plunderers. Furthermore, the grey PVC makes it look from a distance like plain galvanized steel wire.
HIDE™ is Fushi Copperweld's first brand developed specifically for a jacketed product, and the company is getting enthusiastic feedback from customers. Many of them already know too well the damage and losses that come from copper theft, which is a burgeoning industrial crime in many parts of the world.
"HIDE™ is a quadruple-threat to copper thieves," says Joe Longever, CEO of Fushi Copperweld. "First, it looks like steel until you're very close to it. Second, it is made of genuine high-strength Copperweld® -- much harder to cut than copper wire -- which should be the first tip-off to would-be thieves that they are going after the wrong material. Third, if they do decide to cut, they will be sorely disappointed when the time comes to cash in, because the metal is of very little scrap value. Finally, Fushi Copperweld is even imprinting this message on the jacket itself, in both English and Spanish in the American market, to go one step further in letting copper thieves know to move on."
In the United States and Canada, HIDE™ will be sold by ACA Conductor Accessories, Fushi Copperweld's exclusive distributor for grounding products. Fushi Copperweld will market the product directly in the rest of the world. The company has begun shipments of the product, which was previewed at the IEEE's Transmission and Distribution Conference and Exposition in New Orleans in April.
Fushi Copperweld is the leading global manufacturer of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical products.
For more information, please visit the Fushi Copperweld web site, at www.fushicopperweld.com.
About Fushi Copperweld
Fushi Copperweld Inc., through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co. Ltd., and Copperweld Bimetallics LLC, is the leading manufacturer and innovator of copper-clad bimetallic engineered conductor products for electrical, telecommunications, transportation, utilities and industrial applications. With extensive design and production capabilities, and a long-standing dedication to customer service, Fushi Copperweld is the preferred choice for bimetallic products worldwide.
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 www.sec.gov.
For more information, please contact:
Thomas Horton, Global Marketing Director
Fushi Copperweld Inc.
Nathan J. Anderson, VP/Corporate Development
Fushi Copperweld Inc.
SOURCE Fushi Copperweld, Inc.