XINGTAI CITY, CHINA -- (Marketwire) -- 04/11/12 -- Longhai Steel Inc. ("Longhai of the Company") (OTCBB: LGHS), a producer of high-quality steel wire products in the People's Republic of China, today announced that the Company has retained MZ Group as its investor relations firm.
MZ will assist Longhai with communicating its corporate, financial and investor developments to shareholders and investors, while building a strong public brand and investor base. Ted Haberfield, Scott Powell, Derek Gradwell, and the MZ Group team will be advising the Company in all facets of corporate and financial communications.
"We look forward to our partnership with MZ Group," said Steven Ross, Executive Vice President of Longhai. "As we expand our corporate branding and investor relations efforts around the world, we believe MZ Group provides the global reach and an established track record that will help us be more successful. Their strong relationships with retail and institutional investors in Asia and North America in particular will help us tell the Longhai Steel story to more investors."
"Longhai offers investors a tremendous combination of rapid growth at a compellling valuation," said Ted Haberfield, President of MZ North America. "We are firm believers in the secular growth opportunities in global natural resources, particularly in emerging markets. The Company's investments over the past several years have positioned Longhai to realize the benefits in 2012 and beyond. We look forward to working with management to help articulate the exciting developments to investors in the U.S. and China."
About Longhai Steel Inc.
Longhai Steel is a leading producer of high-quality steel wire in eastern China, with annual capacity of 1.5 million metric tons. Longhai's wire is manufactured into screws, nails, and wire mesh used for fencing and to reinforce concrete. Longhai recently expanded its production facility to include specialized applications such as steel wire rope, steel strand, steel belted radial tires, and steel welding rod. Demand is based on spending in the construction, automotive and infrastructure industries in China. Company website: www.longhaisteelinc.com.
Safe harbor statement
Certain statements in this news release are forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "estimates," "expect," "future," "intends," "may," "plans," "should," "will," and similar statements.
The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding China's economic growth, general industry conditions including local supply and price of wire, environmental risks, Longhai's business or growth strategy, Longhai's ability to achieve the new facility's production expectation; Longhai's ability to develop and produce higher margin products that achieve market acceptance; the success of Longhai's investments, risks, and uncertainties regarding fluctuations in earnings, its ability to sustain its previous levels of profitability including its ability to manage growth, intense competition, wage increases in China, its ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, its ability to successfully complete and integrate potential acquisitions, withdrawal of governmental financial incentives, political instability and regional conflicts, and legal restrictions on raising capital or acquiring companies outside China. Although Longhai believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements. Although these expectations and the factors influencing them will likely change, we are under no obligation to inform you if they do. These and additional risks that could affect Longhai's future operating and financial results are more fully described in its filings with the U.S. Securities and Exchange Commission. These filings are available at www.sec.gov.
Longhai may, from time to time, make additional written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q, and 8-K, in its annual report to shareholders, in news releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Longhai does not undertake to update any forward-looking statements that may be made from time to time by or on its behalf, except as required by law.
Longhai Steel Inc.
Steven Ross (English)
Cindy Han (English and Chinese)
MZ Group - North America
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