BEIJING, March 10, 2011 /PRNewswire-Asia-FirstCall/ -- General Steel Holdings, Inc. ("General Steel" or "the Company") (NYSE: GSI), one of China's leading non-state-owned producers of steel products and aggregators of domestic steel companies, today announced that it has retained The Piacente Group ("TPG"), a full-service investor relations firm with offices in New York, California and Beijing. TPG will assist General Steel in implementing investor communications and outreach programs designed to increase the Company's visibility among the financial community.
"Our established operations and proven M&A strategy coupled with aggressive expansion plans to achieve organic growth place us on a firm path to attain our next phase of growth. With our continued expansion, we recognize the importance of effective, proactive communication with the investment community both in the U.S. and China," said General Steel Chairman and CEO Mr. Henry Yu. "We believe that TPG represents an ideal partner as we look to increase our visibility on Wall Street. TPG holds a solid reputation for assisting companies in reaching their next level of success with skilled practitioners that have a wealth of experience in elevating content of communications and bridging the gap between the investment community and China-based US listed companies."
Brandi Piacente, President of TPG, added, "We are delighted to represent General Steel and help them both communicate their value proposition and introduce the company to suitable US investors. The China steel market is undergoing exciting new developments and General Steel stands to be a major beneficiary of the consolidation among the private sector. We look forward to helping General Steel communicate their strong fundamentals, sound business practices and growth strategy as they work to enhance their shareholder value."
About General Steel Holdings, Inc.
General Steel Holdings, Inc., (NYSE: GSI), headquartered in Beijing, China, operates a diverse portfolio of Chinese steel companies. With 7 million metric tons of crude steel production capacity, its companies serve various industries and produce a variety of steel products including rebar, high-speed wire and spiral-weld pipe. General Steel Holdings, Inc. has steel operations in Shaanxi and Guangdong provinces, Inner Mongolia Autonomous Region and Tianjin municipality. For more information, please visit www.gshi-steel.com.
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About The Piacente Group
The Piacente Group, Inc. ("TPG") is a full service investor relations and financial communications consulting firm with offices in New York, California and Beijing. Representing a balanced portfolio of U.S. and China-based companies, TPG develops and implements strategic programs aimed at broadening investment community sponsorship through best practice execution. Value-driven communications, proactive outreach to Wall Street, targeted media relations and innovative social media methodologies work in concert to market clients' securities before optimal investment audiences.
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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, and include: (a) those risks and uncertainties related to general economic conditions in China, including regulatory factors that may affect such economic conditions; (b) whether the Company is able to manage its planned growth efficiently and operate profitable operations, including whether its management will be able to identify, hire, train, retain, motivate and manage required personnel or that management will be able to successfully manage and exploit existing and potential market opportunities; (c) whether the Company is able to generate sufficient revenues or obtain financing to sustain and grow its operations; (d) whether the Company is able to successfully fulfill our primary requirements for cash; and (e) other risks, including those disclosed in the Company's Form 10-K, filed with the SEC. 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.
For more information, please contact:
General Steel Holdings, Inc.
The Piacente Group, Inc.
In the US:
The Piacente Group, Inc.
Brandi Floberg or Lee Roth
SOURCE General Steel Holdings, Inc.