General Steel Forms New Executive Advisory Committee

Aug 06, 2015, 08:09 ET from General Steel Holdings, Inc.

BEIJING, Aug. 6, 2015 /PRNewswire/ -- General Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a leading non-state-owned steel producer in China, today announced the formation of an Executive Advisory Committee (the "Committee") to strengthen the Company's clean technology expertise and expedite its business transformation.

The Committee is comprised of Dr. George V. Chilingar, Dr. Theodore Tsotsis, and Mr. Dean Stanphill, a distinguished group of industry veterans in research, development and commercialization of clean technology, environmental protection and emission solutions.

"We are ecstatic in welcoming such a decorated group of scholars and industry experts to General Steel," said Ms. Yunshan Li, Chief Executive Officer of General Steel, "Since being appointed as CEO, my top priority has been reviewing and integrating the Company's resources, and I believe that these new executive advisors with their broad range of technical and strategic knowledge will strengthen our policy assessment capability and provide valuable guidance in our business transformation. The Committee will also steer our development of best-in-class cleantech and environmental protection solutions that will help optimize our steel operations, as well as potentially expand our business scope into the industrial cleantech segment."

On behalf of the Committee, Dr. Chilingar added, "It is our honor to be founding members of General Steel's Executive Advisory Committee.  As China became the world's largest energy consumer, the breakneck speed of industrial growth has unavoidably led to severe pollution problems.  We believe smart cleantech not only reduces pollution but also improves energy utilization and enhances operation efficiency. We are excited about the huge market opportunities ahead for cleantech in China, and we look forward to contributing to General Steel's future success."

About the Executive Advisory Committee Members

Dr. George V. Chilingar, is Professor Emeritus of Petroleum, Civil and Environmental Engineering at the University of Southern California ("USC"). Dr. Chilingar is an expert with extensive knowledge, experience and recognition in the oil and gas industry, as well as the environmental sector. He is one of the most well-known petroleum geologists in the world and the founder of several prestigious journals in the oil and gas industry. He is a member of American Association of Petroleum Geologists, Professional Chemist and Certified Geologist, Certified Petroleum Geologist, State of California. He has been the Honorary Consul for the Republic of Honduras since 1983. Dr. Chilingar was the first American petroleum geologist elected to the Russian Academy of Sciences. He is also a member of the Armenian Academy of Sciences, the International Academy of Engineering and the President of the US Branch of the Armenian Academy of Engineering. Since 1993, he served as the President of the US Branch of the Russian Academy of Natural Sciences. He served as senior energy adviser to the United Nations from 1967 to 1969, and then again from 1978 to 1987. He was also an energy policy adviser to California Governor Ronald Reagan in 1973. Dr. Chilingar is author of approximately 600 original research articles, 150 scientific reviews and 70 books. Of particular importance are his works in the field of efficient and clean development of petroleum reservoirs, petrophysics, sedimentology; and greenhouse gases reduction and alternative fuels utilization in the energy sector. He has been honored by the nations of, including but not limited to Russia, India, Saudi Arabia, Iran, Thailand and Honduras.

He received his Bachelor's and Master's Degrees in Petroleum Engineering at the University of Southern California (USC) in 1949 and 1950, respectively. And while he was working on his Ph.D. in Geology at USC, he spent four years in the U.S. Air Force, where he made a scientific breakthrough in jet fuel and was given the position of Chief of the Petroleum and Chemicals Laboratory at Wright Patterson Air Force Base near Dayton, Ohio. By 1956 he was awarded a Ph.D. in Geology with the minor in Petroleum Engineering. After his term serving in the USA Air Force, he returned to USC as a member of the School of Engineering faculty. For over 50 years, Professor George V. Chilingar taught various courses in Petroleum Engineering, Petroleum Geology, and Environmental Engineering at USC. In 2008, he was honored with the Lifetime Achievement Award from Viterbi School of Engineering at USC.

Dr. Theodore Tsotsis, is the Robert E. Vivian Professor of Chemical Engineering and Materials Sciences at USC, which is one of the best chemical engineering department, ranked by USnews. Dr. Tsotsis chaired the department for 8 years between 2005 and 2013. He was given the President's Award during the National Engineers Week Awards in 2011, as the most successful distinguished educator in the country.  

Dr. Tsotsis holds a Ph.D. in Chemical Engineering from the University of Illinois, Urbana-Champaign since 1978. He has done groundbreaking research in chemical reaction engineering, industrial catalyst performance enhancement studies, and membrane reactors design and research in USC for over 32 years. He is the author of over 180 technical papers, several book chapters, five U.S. and European patent and the author of the text book "Catalytic Membrane and Membrane Reactor". He is invited to be the co-author of Encyclopedia of Membrane Science and Technology, a book that combines the country's best expertise in membrane technology, providing critical assessment of the status and advancements in materials and fabrication of membranes, membrane based processes, and applications critical to industrial applications and research from fundamental and practical levels.

Mr. Dean Stanphill, is the President of GC Environmental, Inc., a highly specialized engineering company that has experienced rapid growth since inception with industry leading expertise, providing professional environmental engineering and design, process engineering, fabrication and construction for oil companies and power plants in the United States. Mr. Stanphill has over 30 years experiences in landfill gas system design, installation, start-up troubleshooting, as well as long term operations and maintenance for environmental engineering projects, providing solutions to project permitting, site evaluations and other aspects of solid waste engineering and water treatment. Mr. Stanphill has been leading GC Environmental for the past 10 years, helping the company to become an industrial ally in the Landfill Methane Outreach Program, a governmental organization actively involved in reducing greenhouse gases and utilizing alternative fuels. 

About General Steel

General Steel Holdings, Inc. is a leading non-state-owned steel maker headquartered in Beijing, China.  With seven million metric tons of crude steel production capacity under management and operations in Tianjin municipality and China's Shaanxi and Guangdong provinces, the Company produces a variety of steel products including rebar and high-speed wire.

In addition to its steel business, the Company also designs, manufactures, and integrates radio frequency identification ("RFID") systems. The Company's RFID technology provides real-time data on supplies, inventory, and goods, thereby greatly enhancing its customers' administration and planning processes, as well as, asset tracking and supply chain management.

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Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs about future events and financial, political and social trends and assumptions it has made based on information currently available to it. The Company cannot assure that any expectations, forecasts or assumptions made by management in preparing these forward-looking statements will prove accurate, or that any projections will be realized. Actual results could differ materially from those projected in the forward-looking statements as a result of inaccurate assumptions or a number of risks and uncertainties. These risks and uncertainties are set forth in the Company's filings under the Securities Act of 1933 and the Securities Exchange Act of 1934 under "Risk Factors" and elsewhere, including those disclosed in the Company's most recent Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission. Forward-looking statements contained herein speak only as of the date of this release. The Company does not undertake any obligation to update or revise publicly any forward-looking statements, whether to reflect new information, future events or otherwise.

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