BEIJING, March 25, 2011 /PRNewswire-Asia-FirstCall/ --
Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) ("Fuwei Films" or
the "Company"), a manufacturer and distributor of high-quality
BOPET plastic films in China,
today announced that Mr. Zhibing
Qian has submitted his resignation as Senior Vice President
and Board Secretary of the Company effective April 2, 2011, due to personal reasons.
Mr. Qian's resignation was not the result of any disagreement
with the operations, policies or the business of the Company. The
Company is grateful to Mr. Qian for his contribution during his
tenure of office, and will announce a successor when
identified.
Mr. Qian served as the Senior Vice President of the Company
since April 2007, and he concurrently
took the position of the Board Secretary starting from April 2009.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned
subsidiary, Fuwei Films (Shandong)
Co., Ltd. ("Fuwei Shandong"). Fuwei Shandong 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 which, among other things, include both the short and
long-term effects of the global financial crisis on the Company and
the BOPET film industry; 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 more information,
please contact:
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In China:
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Ms. Amy
Gao
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Investor Relations
Manager
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Phone: +86 10
68522612
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Email:
zhenhuangao@fuweifilms.com
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In the U.S.:
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Ms. Leslie
Wolf-Creutzfeldt
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Investor
Relations
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Grayling
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Phone:
+1-646-284-9472
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Email:
leslie.wolf-creutzfeldt@grayling.com
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SOURCE Fuwei Films (Holdings) Co., Ltd.