Sutor Technology Group Signs Supply Contract with Bayi Iron & Steel

Sutor Technology Group Limited SUTR today announced Ningbo Zhehua Heavy Steel Pipe Manufacturing Co., Ltd., a subsidiary of Sutor, has signed a contract to supply steel pipes to BAOSTEEL Xinjiang Bayi Iron & Steel Company Limited (Bayi Iron & Steel). Bayi Iron & Steel is a subsidiary of BAOSTEEL, one of the largest steel companies in the world. Commenting on the contract, Ms. Lifang Chen, CEO and Chairwoman of Sutor, stated "We are pleased to expand our customer base through this new contract win which demonstrates the quality and market position of Sutor. With Chinese economy continuing to grow and inflation likely being under control, we are pleased with our current operations and anticipate a successful fourth fiscal quarter."