NEW YORK, May 28, 2014 /PRNewswire/ -- China Industrial
Steel, Inc. (the "Company") (OTC PINK: CDNN), a holding company,
through its wholly-owned Chinese subsidiary and its variable
interest entities, produces and sells steel plate, bar and wire and
billet in China, seeks and is
taking required actions to terminate registration of its common
stock under Section 12(g) of the Securities Act of 1934, as amended
(the "1934 Act") and to suspend its duty to file reports required
under the 1934 Act.
About China Industrial Steel, Inc.
China Industrial Steel Inc. is a holding company that, through
its wholly-owned Chinese subsidiary and its variable interest
entities, produces and sells steel plate, bar and wire and billet
in China. The Company currently
has an aggregate of 2.3 million metric tons of steel making
capacity and 2 million metric tons of steel rolling production
capacity (including steel plate and steel wire/bar production) in
the facilities on approximately 1,000 acres in Handan city in Hebei province, PRC. The Company serves
various industries and produces a variety of steel products,
including steel billet, steel plate, and steel wire/bar. The
Company's products are typically used in construction, equipment
manufacturing and infrastructure projects. Steel billet is also
occasionally sold to end users to develop into plates and bars.
For questions and inquiries related to this press release,
please contact:
PRC Counsel
Global Law Office
Yaojun Liu, Partner
larryliu@globallaw.cn
US Cousel
Szaferman Lakind Blumstein &
Blader, PC
Gregg Jaclin, Partner
gjaclin@szaferman.com
China Industrial Steel, Inc.
Tel: (646) 328-1502
Forward-Looking Statements
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under the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995 that are based on current
expectations, estimates, forecasts and assumptions and are subject
to risks and uncertainties. Words such as "anticipate," "assume,"
"believe," "budget," "continue," "could," "estimate," "expect,"
"forecast," "goal," "intend," "may," "plan," "potential,"
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and variations of such words and similar expressions are intended
to identify forward-looking statements. Such forward-looking
statements are subject to certain risks, uncertainties and
assumptions that may cause actual results to differ materially from
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All forward-looking statements speak only as of the date on
which they are made. We undertake no obligation to update any
forward-looking statement or statements to reflect events or
circumstances after the date on which such statement was made,
except to the extent required by applicable securities laws.
SOURCE China Industrial Steel, Inc.