BEIJING, Dec. 26, 2012 /PRNewswire/ -- Fushi Copperweld,
Inc. ("Fushi Copperweld" or the "Company"; NASDAQ: FSIN), today
issued the following update with respect to the Agreement and Plan
of Merger, dated as of June 28, 2012,
among the Company, Green Dynasty Limited ("Green Dynasty"), Green
Dynasty Acquisition, Inc. ("Merger Sub"), and Green Dynasty
Holdings Limited, pursuant to which Merger Sub will merge with and
into the Company and the Company will continue as the surviving
corporation and will be a wholly-owned subsidiary of Green Dynasty
(the "Merger"):
"We expect to complete the Merger today, December 26, 2012. We are requesting
that shares of the Company common stock cease trading on NASDAQ
immediately prior to the opening of the market on December 27, 2012. We anticipate that
the paying agent for the Merger will commence payment of the Merger
consideration to stockholders beginning on December 27, 2012. Stockholders of
record who hold shares in certificated form will receive a letter
of transmittal to allow them to deliver their share certificates to
the paying agent in exchange for the Merger
consideration. Stockholders who hold shares through a
bank or broker will not have to take any action to receive cash for
their shares, as such payments will be handled by the bank or
broker."
Safe Harbor Statement
The actual results of Fushi Copperweld, Inc. could differ
materially from those described in this press release. Detailed
information regarding factors that may cause actual results to
differ materially from the results expressed or implied by
statements in this press release may be found in the Company's
periodic filings with the SEC, including the factors described in
the section entitled "Risk Factors" in its annual report on Form
10-K for the year ended December 31,
2011, filed with the SEC on March
15, 2012. The Company does not undertake any
obligation to update forward-looking statements contained in this
press release. This press release contains forward-looking
information about the Company that is intended to be covered by the
safe harbor for forward-looking statements provided by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that are not historical facts.
These statements can be identified by the use of forward-looking
terminology such as "believe," "expect," "may," "will," "should,"
"project," "plan," "seek," "intend," or "anticipate" or the
negatives thereof, or comparable terminology, and include
discussions of strategy, and statements about industry trends and
the Company's future performance, operations and products.
A number of the matters discussed herein that are not historical
or current facts deal with potential future circumstances and
developments, in particular, whether and when the transactions
contemplated by the Merger Agreement will be consummated. The
discussion of such matters is qualified by the inherent risks and
uncertainties surrounding future expectations generally and also
may materially differ from actual future experience involving any
one or more of such matters. Such risks and uncertainties
include: any conditions imposed on the parties in connection with
consummation of the transactions described herein; satisfaction of
various other conditions to the closing of the transactions
described herein; and the risks that are described from time to
time in the Company's reports filed with the SEC.
About Fushi Copperweld, Inc.
Fushi Copperweld Inc., principally through its wholly owned
subsidiaries, Fushi International (Dalian) Bimetallic Cable Co. Ltd. and
Copperweld Bimetallics LLC, is the leading manufacturer and
innovator of copper-clad bimetallic engineered conductor products
for electrical, telecommunications, transportation, utilities and
industrial applications. With extensive design and production
capabilities, and a long-standing dedication to customer service,
Fushi Copperweld is the preferred choice for bimetallic products
worldwide.
For investor inquiries, please contact:
Paul Schulman
MacKenzie Partners, Inc.
Toll-free at (800) 322-2885 or collect at (212) 929-5500
Jolin Qiao, Investor Relations
Officer
Fushi Copperweld Inc.
Phone +1.615.377.4183
E-mail: ir@fushicopperweld.com
Web: www.fushicopperweld.com
SOURCE Fushi Copperweld, Inc.
