CHANGSHU, China, June 5, 2015 /PRNewswire/ -- Sutor Technology Group Limited (the "Company" or "Sutor") (Nasdaq: SUTR), one of the leading China-based manufacturers and service providers for fine finished steel products used by a variety of downstream applications, today announced that it has successfully reserved a new ticker symbol of "TOR" for the Company's common stock traded on the NASDAQ Capital Market. The Company's common stock will continue to be traded under the symbol of "SUTR" until the new symbol is officially adopted.
Lifang Chen, Chairwoman and CEO of Sutor commented, "The Company transformed from a traditional steel manufacturer to a fine finished steel supply chain service provider. To help foster a stronger and more recognizable brand for the Company, we reserved a new symbol of 'TOR'. We will decide at an appropriate time to start trading our common stock under the new symbol and update the market promptly."
About Sutor Technology Group Limited
Sutor is one of the leading China-based manufacturers and 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. In addition, the Company offers fee-based steel processing services and sells fine finished steel products through electronic commerce platforms. 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. These statements are based on beliefs and assumptions of management, which in turn are based on currently available information. These forward-looking statements also involve risks and uncertainties, which could cause actual results to different materially from those contained in any forward-looking statement. Many of these factors are beyond our ability to control or predict. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include, without limitation, uncertainties as to our future financial performance, liquidity and strategic and operational plans, the market for our products, and uncertainties discussed in our other reports filed with the Securities Exchange Commission ("SEC") by the Company. 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.
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Sutor Technology Group Limited
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SOURCE Sutor Steel Technology Co., Ltd.