China Industrial Steel Seeks to Suspend Its 1934 Act Reporting Obligations

Chinesische Flagge vor Hochhäusern ©iStock

PR Newswire

NEW YORK, May 28, 2014

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

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Forward-Looking Statements

This press release contains "forward-looking statements" made 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," "predict," "project," "seek," "should," "began," "target," "would" 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 those expressed by the forward-looking statements.

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.

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