Sutor Technology Group Limited Received New Steel Pipe Export Order for Saudi Arabia
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CHANGSHU, China - 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, announced that on March 19, 2015 its subsidiary, Ningbo Zhehua Heavy Steel Pipe Manufacturing Co., Ltd ("Ningbo Zhehua"), entered into a new contract to supply approximately 3,000 metric tons of large-diameter submerged-arc straight seam welded pipes for a dredging project of Saudi Arabia National Oil Company. Ningbo Zhehua has received a payment deposit and expects to complete product delivery in the middle of April 2015.
Lifang Chen, Chairwoman and CEO of Sutor commented, "The products to be supplied under this contact are all high-valued welded pipes that meet American Petroleum Institute (the "API") standards. We are proud of Ningbo Zhehua's advanced technologies, which enables us to supply steel pipes for national projects both in China and aboard. Relying on outstanding products and services, we export steel pipes to overseas markets such as the Far East, European Union, Southeast Asia and Africa. We believe Ningbo Zhehua's receipt of European Union Pressure Equipment Directive and Construction Products Regulation certificates last year confirms the high quality of its products. To us, superior products and services are core values on which we can expand markets and build brand recognition, thereby laying a firm foundation for future grow."
About Sutor Technology Group Ltd
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. The Company also provide fee-based steel processing services to customers, including industrial peers. To learn more about the Company, please visit http://www.sutorcn.com/en/index.php.
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Sutor Steel Technology Co., Ltd.
