Sutor Technology Group Limited (Nasdaq: SUTR) ("Sutor" or "the Company"), a leading private manufacturer of fine finished steel products used by steel fabricators and other applications, today announced its product development initiatives for 2010.
Ms. Lifang Chen, Chairperson and CEO of Sutor stated, "As an innovation- oriented enterprise in China's high-end steel industry, we continue our research and development efforts to design and produce the highest quality and most technologically advanced products in our industry. In light of the current market downturn and intensified competition in the low-end steel industry in China, we have been proactively enhancing our research efforts particularly in the areas of new energy and new material. New products from Sutor are the direct result of our growing research and development team that continues to strive for innovative ways to deliver high quality products to our clients.
"In the first half of 2010, we aim to release three new products including CIGS solar cells, zinc- titanium coated steel and hot-dip galvanized Aluminum- magnesium alloy rare earth coated sheet steel. These new products will also benefit from China's government initiatives focusing on energy saving, cost- efficient and environmentally-friendly new building materials."
In the second half of calendar 2009, the Company released three new products including new decorative pre-painted galvanized steel (PPGI) plate, nano-antibacterial PPGI steel sheet and heat insulation PPGI.
-- Decorative PPGI steel plate - With improved printing techniques, Sutor
has successfully addressed hurdles to be able to imprint delicate
graphics onto PPGI steel sheets. It is now widely used as a decorative
material for indoor & outdoor decorations, solar water heaters and
-- Nano-antibacterial PPGI steel plate - This new product has excellent
antibacterial properties. It applies nanotechnology and the nano-silver
antibacterial pharmaceutical developed by Mid-South University. The
product is suitable for applications of construction materials, medical
devices, slaughtering equipment and household electronics.
-- Heat Insulation PPGI - Heat insulation helps to maintain the
temperature difference between the interior and exterior of buildings.
The characteristic is welcomed in the building and construction
industry in which the demand for energy saving materials is increasing.
Ms. Chen continued, "We believe that our technological advantages are positively benefitting Sutor, which is reflected in the improving business trends experienced in late 2009 and we are excited about the broader range of market opportunities we're exploring.
"Through these new product initiatives, we are confident that our innovation-focused strategy will enable us to compete effectively in a challenging steel environment and maintain our leadership in China's fine finished steel market."