Sino Gas Appoints New Board Members
18 March 2008 - 11:34PM
PR Newswire (US)
BEIJING, China, March 18 /Xinhua-PRNewswire-FirstCall/ -- Sino Gas
International Holdings, Inc. (OTC:SGAS) (BULLETIN BOARD: SGAS)
("Sino Gas" or the "Company"), a leading developer of natural gas
distribution systems in small and medium-sized cities and
distributor of natural gas to residential, commercial and
industrial customers in the People's Republic of China, announced
the appointment of Mr. Zhicheng Zhou and Mr. Xinmin Zhang to the
Company's Board of Directors. The two new Directors replace Mr.
John D. Kuhns and Ms. Fang Chen, who resigned due to personal
reasons. Mr. Zhicheng Zhou has served as the Company's Chief
Operating Officer since October 2006. Mr. Zhou was the Director and
General Manager of Beijing Chenguang Gas Co., Ltd. from late 2002
to late 2006. From 2001 to 2002, he served as the Associate General
Manager and General Manager of Beijing Zhong Ran Xiang Ke Petroleum
and Oil Technology Co., Ltd. Mr. Zhou graduated from Tianjin
Finance University and has a Master's degree in Finance. Mr. Xinmin
Zhang has been the Dean of the International Business School at the
University of International Business and Economics ("UIBE") in
Beijing since 1999. From September 1994 to December 1999, he was
the Vice Dean of the International Business School, UIBE. Mr. Zhang
is an FCCA (Fellow of the Chartered Institute of Certified
Accountants) in the UK and an FCPA (Fellow of the Certified
Practicing Accountants) in Australia. He is also a professor of
accounting at UIBE. Mr. Zhang serves as the independent director of
three listed companies in China; Minmetals Development Co., Ltd,
Gree Corporation and Guangcai Construction Co., Ltd. Mr. Zhang
obtained his Bachelor of Engineering from Northern Industrial
University in 1983, his Masters of Economics from Renmin University
in 1989 and his Ph.D. in Management Science from Northeastern
University of Economics and Trade in 2001. "We are pleased to
welcome Mr. Zhou and Mr. Zhang as new Directors," said Mr. Yu-Chuan
Liu, President and CEO of Sino Gas. "We believe their experience in
the gas distribution industry and expertise in accounting at public
companies in China will greatly benefit our Company. We look
forward to working with both of them as Sino Gas grows and expands
into more cities in China, and we consolidate our status as a
leading domestic natural gas distributor." About Sino Gas
International Holdings, Inc. The Company, through its indirectly
wholly-owned subsidiary, Beijing Zhong Ran Wei Ye Gas Co., Ltd.
("Beijing Gas"), and the subsidiaries of Beijing Gas, is a leading
developer of natural gas distribution systems in small and medium
size cities in China, as well as a distributor of natural gas to
residential, commercial and industrial customers in China. The
company owns and operates 24 natural gas distribution systems
serving approximately 100,000 residential and eight commercial and
industrial customers. Facilities include approximately 700
kilometers of pipeline and delivery networks with a designed daily
capacity of approximately 70,000 cubic meters of natural gas.
Beijing Gas owns and operates natural gas distribution systems in
Hebei, Jilin, Jiangsu and Shandong Provinces. The Company's website
is: http://www.sino-gas.com/ . Safe Harbor Statement This
announcement contains forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's ability to
raise additional capital to finance the Company's activities; the
effectiveness, profitability, and the marketability of its
products; the ability of the Company to identify attractive
acquisition candidates and close on acquisitions; the period of
time for which its current liquidity will enable the Company to
fund its operations; the Company's ability to protect its
proprietary information; general economic and business conditions;
the volatility of the Company's operating results and financial
condition; the Company's ability to attract or retain qualified
senior management personnel and research and development staff; and
other risks detailed in the Company's filings with the Securities
and Exchange Commission. These forward-looking statements involve
known and unknown risks and uncertainties and are based on current
expectations, assumptions, estimates and projections about the
companies and the industry. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or to changes in its expectations, except
as may be required by law. Although the Company believes that the
expectations expressed in these forward looking statements are
reasonable, they cannot assure you that their expectations will
turn out to be correct, and investors are cautioned that actual
results may differ materially from the anticipated results. For
more information, please contact: Sino Gas International Holdings,
Inc. Vincent Hu, Chief Financial Officer Tel: +86-10-8260-0041
Email: CCG Elite Investor Relations Crocker Coulson, President Tel:
+1-646-213-1915/1914 (New York) Email: DATASOURCE: Sino Gas
International Holdings, Inc. CONTACT: Vincent Hu, Chief Financial
Officer, Sino Gas International Holdings, Inc., +86-10-8260-0041,
or ; or Crocker Coulson, President of CCG Elite Investor Relations,
+1-646-213-1915/1914 (New York), or , for SGAS Web Site:
http://www.sino-gas.com/
Copyright