Sutor Technology Group Limited Signs Four New Contracts for 52000 Metric

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Sutor Technology Group Limited Signs Four New Contracts for 52,000 Metric Tons
New contracts total approximately $40 million in revenue
/PRNewswire-Asia-FirstCall/ — Sutor TechnologyGroup Limited (the “Company”, “Sutor”) (Nasdaq: SUTR ), a leading -basedmanufacturer and distributor of high-end fine finished steel products andwelded steel pipes used by a variety of down-stream applications todayannounced that it has signed four annual contracts totaling approximately52,000 metric tons of processed steel products for an aggregate contractamount of approximately based on current market prices. Thecontracts are for one year beginning from March and the products sold throughthe contracts will be priced at the market at the time of shipment.
The new order contracts are with long term customers Shandong Sangle, aleading solar water heater manufacturer in , and three steel distributorslocated in Eastern and . Under the contracts, Sutor will supplyapproximately 10,000 metric tons of pre-painted galvanized steel (PPGI) toShandong Sangle and 42,000 metric tons of hot dipped galvanized steel (HDGI)to the three steel distributors.
“We are pleased with today’s new contract announcements with our long-termpartners. We believe these annual agreements demonstrate our commitment tosuperior product quality and customer service. In addition, we continue to useour proactive research and development efforts to design new products withgreen energy uses and applications. Further, these new contracts demonstratehow Sutor is successfully building closer relationships with professionalsteel distributors who understand their local markets and have a wide customerbase,” stated Ms. , Chairwoman and CEO of Sutor Technology Group.
About Sutor Technology Group Limited
Sutor (Nasdaq: SUTR ) is one of the leading private manufacturers of finefinished steel products used by steel fabricators and other applications in. Sutor utilizes a variety of processes and technologies to convert steelmanufactured by third parties into fine finished steel products, includinghot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel,cold-rolled steel and welded steel pipe products. The company’s diversifiedlines of products are extensively used for solar energy, household appliances,medical instruments, IT, building construction, and automobiles. The companybenefits directly from the increasing and sustainable demand for its productsdue to urbanization and industrial upgrading in . To learn more about theCompany, please visit http://www.sutorcn.com .
This press release includes certain statements that are not descriptionsof historical facts, but are forward-looking statements. Such statementsinclude, among others, those concerning the four new contracts, our expectedfinancial performance and strategic and operational plans, our futureoperating results, our expectations regarding the market for our steelfinishing fabrication products, our expectations regarding the continuedgrowth of the steel market, as well as all assumptions, expectations,predictions, intentions or beliefs about our relative strength and aboutfuture events. You are cautioned that any such forward-looking statements arenot guarantees of future performance and that a number of risks anduncertainties, including developments in the world economy and in our industry,could cause our actual results to differ materially from those anticipated,expressed or implied in the forward-looking statements. These risks anduncertainties include, but not limited to, the factors mentioned in the “RiskFactors” section of our Annual Report on Form 10-K for the year ended , and other risks mentioned in our other reports filed with the SecuritiesExchange Commission, or SEC. Copies of filings made with the SEC are availablethrough 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 similarexpressions are intended to identify forward-looking statements. Allstatements other than statements of historical fact are statements that couldbe deemed forward-looking statements. The Company assumes no obligation anddoes not intend to update any forward- looking statements, except as requiredby law.
For more information, please contact:Sutor Technology Group LimitedMr. Jason Wang, Director of IRTel: +86-512-5268-0988Web: http://www.sutorcn.com ICR, Inc.Mr. Brian M. Prenoveau, CFATel: +1-203-682-8200

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