BEIJING, July 22 /PRNewswire-Asia-FirstCall/ -- Fuwei
Films (Holdings) Co. Limited (Nasdaq: FFHL) ("Fuwei Films" or the
"Company"), a manufacturer and distributor of high-quality BOPET
plastic films located in China,
today announced that its wholly owned subsidiary, Fuwei Films
(Shandong) Co. Ltd. ("Shandong
Fuwei"), has successfully completed the development of a new dry
film product. The test sample has passed the strict examination by
Hitachi Chemical Shanghai and Asahi ASEI.
Dry film is a high demand product in the global market. Because
of the barriers to entry due to sophisticated R&D, technology
and production criteria, Fuwei is one of only two major
manufacturers in the Chinese BOPET industry currently producing
this kind of dry film.
Dry film is generally used in circuit boards (PCB & FPC)
production, in addition to nameplate and crafts etching. It is not
only the most widely used mask film for PCB graphics but also
indispensable image material for manufacturing precision
circuits.
According to Mr. Xiaoan He,
Chairman and CEO of Fuwei, "R&D has always been one of the key
competitive advantages of our company. We have successfully
introduced the new dry film product into the market and we expect
to expand the production in the future."
About Fuwei Films
Fuwei Films conducts its business through its wholly owned
subsidiary Shandong Fuwei Films Co., Ltd. ("Shandong Fuwei")
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
and are subject to risks. Risk factors that could contribute to
such differences include those matters more fully disclosed in the
Company's reports filed with the U. S. Securities and Exchange
Commission some of which are 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. 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. Actual results of our operations may differ
materially from information contained in the forward-looking
statements as a result of the risk factors.
For further information, please contact:
In China:
Maggie Huang
Investor Relations Manager
Phone: +86-10-6852-2612
Email: fuweiIR@fuweifilms.com
In the U.S.:
Leslie Wolf-Creutzfeldt
Investor Relations
Grayling
Phone: +1-646-284-9472
Email: leslie.wolf-creutzfeldt@us.grayling.com
SOURCE Fuwei Films (Holdings) Co. Limited