DONGBANG TOWN, China, Jan. 14 /PRNewswire-Asia/ -- Sutor Technology Group Limited (the Company, Sutor) (Nasdaq: SUTR), a leading private manufacturer of fine finished steel products used by steel fabricators and other applications, today announced that it will hold its 3rd Annual Southern China Distributor Conference at Sutor's headquarters in Changshu, Jiangsu province from January 15-17, 2010.
More than 100 distributors from Pearl River Delta Region, regarded as the most developed and industrialized region in China, and other provinces including Guangxi, Hunan, Fujian, Hainan are expected to participate in the event. The conference consists of three sections including new product introductions, interaction & contracts signing and facilities visits.
During the event, Lifang Chen, Chairwoman & CEO of Sutor and other senior officers will share the Company's development outlook, Research & Development (R&D) outline and new product characteristics. At the end of the conference, participants can visit Sutor's automated production lines and national level research and development center where new products and patents are launched.
China's increasing level of industrialization combined with a limited number of high-end steel suppliers in Southern China provides Sutor with a strategic opportunity to expand market share, improve Huaye's brand recognition and enter new product markets like energy-saving and environmentally-friendly industries. With annual capacity of 400,000 metric tons, our new hot-dip galvanized production lines are an indication of our effort to meet this growing demand, commented Lifang Chen, Chairman and CEO of Sutor.
Approximately 40% of fine steel products in the south of China are dependent on imports but we believe our production facilities in Changshu and Ningbo provide a geographic advantage that helps us access the Southern Chinese market cost efficiently. We continue to develop new distributors and upscale end customers, making Sutor confident that our strategy of providing a high quality value chain with market-driven R&D, world-class production facilities, a nationwide sales network and a highly efficient logistics delivery system will allow us to supply the increasing demand for fine steel products in the region.
Currently, approximately 30% of our revenue is derived from Southern China, but we will strive to increase our market share in the region through new product introductions, a diversified product portfolio and multiple follow-up services as the Chinese economy remains robust, Ms Chen added.
About Sutor Technology Group Limited
Please visit http://www.sutorcn.com .
For more information, please contact:
Mr. Jason Wang
Sutor Technology Group Limited
Tel: +86-512-5268-0988 +86-512-5268-0988
Mr. Brian M. Prenoveau, CFA
Tel: +1-203-682-8200 +1-203-682-8200
SOURCE Sutor Technology Group Limited
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