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8-K - LianDi Clean Technology Inc. | v186042_8k.htm |
EX-99.2 - LianDi Clean Technology Inc. | v186042_ex99-2.htm |
EX-10.3 - LianDi Clean Technology Inc. | v186042_ex10-3.htm |
EX-10.2 - LianDi Clean Technology Inc. | v186042_ex10-2.htm |
EX-10.1 - LianDi Clean Technology Inc. | v186042_ex10-1.htm |
LIANDI
CLEAN TECHNOLOGY INC. APPOINTS CHEN HONGJIE, JOEL
PARITZ
AND LI XIAOJUN TO ITS BOARD OF DIRECTORS
BEIJING – May 17, 2010 – LianDi Clean
Technology Inc. (OTC BB: LNDT), (“LianDi” or the “Company”), a leading provider
of clean technology, downstream flow equipment, engineering services and
software to China’s leading petroleum and petrochemical companies, announced
today that it has appointed Chen Hongjie, Joel Paritz and Li Xiaojun to its
board of directors effective as of May 17, 2010. With their appointment, the
Company’s board of directors was increased to five members. The term for each of
the three independent directors is for one year from May 17, 2010.
"We are
pleased to welcome Mr. Chen, Mr. Paritz and Mr. Li to our board of directors and
look forward to the valuable insight and perspective they will bring to the
Company as we pursue our growth strategy as a leading provider of clean
technology to China’s growing petroleum and petrochemical industries," stated
Mr. Jianzhong Zuo, chairman, chief executive officer and president of the
Company. “With their in-depth expertise and experience in the areas
of engineering, corporate finance and accounting, and international trade, their
addition to LianDi’s board will bring additional depth and strength to our
leadership team.”
Mr. Chen
is currently a managing director of the investment banking firm Haitong
Securities Co., Ltd. Previously he was a financial manager with Lison
International Ltd., a subsidiary of Sinopec Shanghai Engineering Co., Ltd.
(SSEC) in Hong Kong, and a project financial analyst at SSEC. Mr. Chen received
his Bachelor of Economics at Shanghai University of Engineering Science and his
EMBA from China Europe International Business School.
Mr.
Paritz is founder of Paritz & Company, P.A., an accounting and consulting
firm servicing clients in the New York area as well as multi-national companies.
Prior to forming Paritz & Co., he was employed by Ernst and Young in both
the audit and tax departments. Mr. Paritz is a member of the New York and New
Jersey Societies of Certified Public Accountants, American Institute of
Certified Public Accountants and the Securities and Exchange Commission Practice
Section. He currently serves as a member of the board of directors of the Bank
of New Jersey. Mr. Paritz received his master’s in degree in business
administration and his bachelor’s degree in accounting from Rutgers
University.
Mr. Li is
currently president of ShengYuan Investment Company Ltd., an international
investment and trading company, and vice president of Zhonghui Guohua Industrial
Group Company Limited, a major Chinese mining company. He also serves as deputy
secretary of the National
Development and Reform Commission of China Industrial Development Association,
and has served as general manager of China's Overseas Economic Cooperation
Corporation of State Foreign Trade, Central Asia branch. Mr. Li received his
bachelor’s degree in economics from the Political
Education Department of Xinjiang University.
In
addition to Mr. Zuo, chairman of the board, and the newly named directors,
LianDi’s board of directors also includes Mr. Hirofumi Kotoi Mr. Kotoi is
a Vice-President and Representative Director at SJI Inc. Mr. Kotoi previously
was a member of the board of directors of ChinaNet Online Holdings, Inc.
(AMEX: CNET). He earned his master’s degree from Kyoto University and
completed a Ph.D. course major in computer science. He also studied at the
University of Science and Technology of China.
About LianDi Clean Technology
Inc.
LianDi
was established in July 2006 to serve the largest Chinese petroleum and
petrochemical companies. Through its four operating subsidiaries, Hua Shen
Trading (International) Ltd., Petrochemical Engineering Ltd., Bright Flow
Control Ltd. and Beijing JianXin Petrochemical Engineering Ltd., the Company
distributes a wide range of customized valves and equipment and provides
associated value-added technical and integration service. The Company also
develops and markets proprietary optimization software for the polymerization
process. In addition, LianDi is focused on the large, rapidly growing, clean
technology market for oil refineries, projected to reach over $1 billion in the
next 10 years. This market is expected to benefit from favorable Chinese
government policies, including tax benefits and other incentives.
Cautionary
Statement Regarding Forward-Looking Information
This
press release may contain certain "forward-looking statements" relating to the
business of LianDi and its subsidiary companies. All statements, other than
statements of historical fact included herein are "forward-looking statements"
including statements regarding: the impact of the proceeds from the private
placement on the Company's short term business and operations; the general
ability of the Company to achieve its commercial objectives, including the
ability of the Company to sustain growth; the business strategy, plans and
objectives of the Company and its subsidiaries; and any other statements of
non-historical information. These forward-looking statements are often
identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks and
uncertainties. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic reports that are
filed with the Securities and Exchange Commission and available on its website
(http://www.sec.gov)
Contacts:
Company:
Joe
Levinson, VP of Corporate Communications
Tel:
+646-884-0829
Email:
joe.levinson@china-liandi.com
Investor
Relations:
HC
International, Inc.
Ted
Haberfield, Executive VP
Tel:
+1-760-755-2716
Email:
thaberfield@hcinternational.net