Fuwei Films Announces Resignation of Chief Financial Officer
06 Março 2008 - 11:00AM
PR Newswire (US)
BEIJING, March 6 /Xinhua-PRNewswire-FirstCall/ -- Fuwei Films
(Holdings) Co. Limited (NASDAQ:FFHL) ('Fuwei' or 'the Company'), a
manufacturer and distributor of high-quality BOPET plastic films in
China, today announced that Ms. Cindy Lu has submitted her
resignation as Chief Financial Officer and a director effective
March 31st, 2008. The Board of Directors of Fuwei Films accepted
her resignation on February 29th, 2008. Fuwei has initiated a
search for Ms. Lu's replacement and expects to announce a new chief
financial officer soon. About Fuwei Films Fuwei Films conducts its
business through its wholly owned subsidiary Shandong Fuwei Films
Co., Ltd. Shandong Fuwei develops, manufactures and distributes
high-quality plastic films using the biaxial oriented stretch
technique, otherwise known as BOPET film (biaxially oriented
polyethylene terephthalate). Fuwei's BOPET film is widely used to
package food, medicine, cosmetics, tobacco and alcohol, as well as
in the imaging, electronics, and magnetic products industries. Safe
Harbor This press release contains information that constitutes
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Any such forward-looking statements involve risk and uncertainties
that could cause actual results to differ materially from any
future results described by the forward-looking statements. Risk
factors that could contribute to such differences include those
matters more fully disclosed in the Company's reports filed with
the Securities and Exchange Commission. The forward-looking
information provided herein represents the Company's estimates as
of the date of the press release, and subsequent events and
developments may cause the Company's estimates to change. The
Company specifically disclaims any obligation to update the
forward- looking information in the future. Therefore, this
forward-looking information should not be relied upon as
representing the Company's estimates of its future financial
performance as of any date subsequent to the date of this press
release. The forward-looking statements included in this press
release are subject to risks, uncertainties and assumptions about
our businesses and business environments. These statements reflect
our current views with respect to future events and are not a
guarantee of future performance. Actual results of our operations
may differ materially from information contained in the
forward-looking statements as a result of risk factors some of
which are include, among other things, competition in the BOPET
film industry; growth of, and risks inherent in, the BOPET film
industry in China; uncertainty as to future profitability and our
ability to obtain adequate financing for our planned capital
expenditure requirements; uncertainty as to our ability to
continuously develop new BOPET film products and keep up with
changes in BOPET film technology; risks associated with possible
defects and errors in our products; uncertainty as to our ability
to protect and enforce our intellectual property rights;
uncertainty as to our ability to attract and retain qualified
executives and personnel; and uncertainty in acquiring raw
materials on time and on acceptable terms, particularly in view of
the volatility in the prices of petroleum products in recent years.
For more information, please contact: In China: Christina He
Investor Relations Manager Phone: +86-10-8518-5620 Email: In the
U.S.: Leslie Wolf-Creutzfeldt Investor Relations The Global
Consulting Group Phone: +1-646-284-9472 Email: DATASOURCE: Fuwei
Films (Holdings) Co. Limited CONTACT: In China - Christina He,
Investor Relations Manager, Fuwei Films (Holdings) Co. Limited,
+86-10-8518-5620, or ; or In the U.S. - Leslie Wolf-Creutzfeldt,
Investor Relations of The Global Consulting Group, +1-646-284-9472,
or , for Fuwei Films
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