BEIJING, April 15, 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 its board of directors has appointed Mr.
Yong Jiang as the Board Secretary of
the Company to replace Mr. Zhibing
Qian who resigned from his position as the Senior Vice
President and Secretary of the Company, effective April 2, 2011.
Mr. Xiaoan He, Chairman and Chief
Executive Officer of the Company said, "We are pleased to welcome
Mr. Jiang to be our Board Secretary. He has worked with the Company
for a long time, and is familiar with the BOPET film industry, and
the Company's operations and business. Mr. Jiang is a great asset
for Fuwei."
From 2007 until now, Mr. Jiang has been assistant President of
Fuwei Films (Shandong) Co., Ltd.
From 2003 to 2006, he served as assistant manager, deputy manager
and manager of the marketing department for Shandong Fuwei. In
1998, he joined the predecessor of Shandong Fuwei, Weifang Neoluck
Plastic Co., Ltd. where he was responsible for overseas sales and
production planning. Since 2010, Mr. Jiang has been studying to
obtain his EMBA degree in Nankai University. In 1998, he received
his bachelor degree in Information Management and Information
System from Shandong
University.
About Fuwei Films
Fuwei 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.