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29 August 2008 |
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iSteelAsia Opened Sixth Sales Office in Shenzhen (28th November, 2002 - HONG KONG) iSteelAsia.com Limited ("iSteelAsia" or " the Group", HKSE: 8080) announced the opening of its sixth sales office in Shenzhen, the PRC, strengthening the Group's presence in South China. Officiating the opening ceremony in Shenzhen on 23rd November, 2002, Mr. Andrew Yao, Chairman of iSteelAsia, expressed his gratitude to the support of local government and business partners for the success of iSteelAsia. "Establishing the sixth sales office in the PRC in two years is a remarkable achievement for iSteelAsia. Together with the sales office in Beijing, Shanghai, Tianjin, Guangzhou and Chongqing, we aim at developing the most efficient and effective distribution network in serving the metal ecosystem in Asia," he remarked. At the new sales office opening, Ms. Drina Yue, CEO of iSteelAsia, said, "We are excited in establishing another milestone in Shenzhen. This is a significant move for the Group's development, expanding our coverage to cities with huge demand for quality steel and steel products. In addition to our Guangzhou sales office, the new sales office in Shenzhen will further strengthen our market position in South China and better serve our customers in the region." "South China is one of the most important industrial hubs of the country with unprecedented growth in the demand for steel, accounting for approximately one-third of China's total consumption. According to International Iron and Steel Institute, finished steel consumption in China is estimated to increase by 14.8% (or 25 million tons) to 195 million tons in 2002 and would further grow to 215 million tons in 2003," Ms. Yue added. With respect to the division of work between the Group's Guangzhou and Shenzhen sales offices, Mr. Lee Ying Chow, General Manager of Shenzhen iSteelAsia Trading Co., Ltd., explained, "Shenzhen sales office, which also handles sales coverage in the south-western part of China, such as Guangxi province, Yunan province and surrounding cities, will focus on the distribution of iron ore, rebar, HR, CR and tin plate while Guangzhou sales office mainly provides higher value-added products such as stainless steel, EG and PPGI." Many government officials and guests attended the opening ceremony last Saturday. Mr. Liao Jun Wen, Vice Chairman of Shenzhen Committee of The Chinese Political Consultative Conference also addressed the event in recognizing the contribution and success of iSteelAsia. He believed that China's promising economic development will continue to prosper the construction industry, thereby increasing the demand for steel. Other guests included Mr. Fan Dao Li, Deputy Manager of Chongqing Iron & Steel Group, Mr. Li Qing Zhong, Deputy Manager of Maanshan Iron & Steel Co., Ltd (Sales Company), Mr. Chan Kin Yuen, President of Guangzhou Shuangling Iron & Steel Industry Co., Ltd., Mr. Shen Pao Luo, representative from Shanghai Baosteel Trading Company Limited and Mr. Earle Ho, Chairman and CEO of Tung Ho Steel Enterprise Corporation, etc. Ms. Yue concluded, "With the support from customers and business partners, we will continue to identify other strategic locations to further enhance our distribution network, conforming to our principle of 'Global Vision, Asian Focus'. We are confident in the future of iSteelAsia and strive to become a dominant steel distribution network and value-added service provider in the PRC."
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