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8-K - 8-K - CHINA ELECTRIC MOTOR, INC. | v187096_8k.htm |
EX-10.1 - EX-10.1 - CHINA ELECTRIC MOTOR, INC. | v187096_ex10-1.htm |
EX-10.2 - EX-10.2 - CHINA ELECTRIC MOTOR, INC. | v187096_ex10-2.htm |
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FOR IMMEDIATE
RELEASE
CHINA
ELECTRIC MOTOR ANNOUNCES SENIOR MANAGEMENT APPOINTMENTS
Michael
Xiao Appointed as Chief Operating Officer;
Shengping
Wang Appointed as Chief Technology Officer
SHENZHEN,
CHINA — June 2, 2010 — China Electric Motor, Inc. (NASDAQ: CELM, “China
Electric” or “the Company”), a Delaware corporation and China-based company that
engages in the design, production, marketing and sale of micro-motor products
through its subsidiary Shenzhen YuePengCheng Motor Co., Ltd. (“Shenzhen YPC”),
today announced that it has strengthened its leadership team by appointing
Xinming (“Michael”) Xiao as Chief Operating Officer and Shengping Wang as Chief
Technology Officer.
Mr. Yue
Wang, Chief Executive Officer of China Electric, said, “The talent and
management capabilities that Michael and Shengping bring to our team will power
our growth, particularly with regards to the research and development and
capacity expansion activities designed to expand our product portfolio and grow
our market position.
“Michael’s
extensive experience in the motor industry will bring significant contributions
to CELM as we execute our capacity expansion plans. His experience managing
production operations will strengthen our overall processes and enhance our
position as a major player in the industry. Michael will be responsible for
overall production process, quality control, and supply chain
management.
“Shengping
will lead our already strong R&D team, with a primary focus on new product
initiatives, particularly the development and design of products that will
address industry demands for micro-motor products that reduce noise, vibration
and energy consumption. His expertise in this area will help us to expand our
offering and enter new categories, such as the mobile phone and CNC machine tool
markets.”
Mr.
Michael Xiao has over 10 years of production and technology management
experience. He is proficient in the design and production of micro motors and
the management of quality assurance systems and business processes. He also has
years of sales and marketing experience. Prior to joining the company, Mr. Xiao
served as Deputy Managing Director of Huizhou Besthope Micromotion Technology
Industry Co., Ltd. from October 2009 to May 2010. He was General Manager of
Shanghai AWA Seimitsu Electric Co., Ltd. from June 2006 to September 2009 and
Vice General Manager of Shenzhen MicroTech Motor Co., Ltd. from June 2004 to May
2006. He has also served as Senior Manager of strategic planning at Dongguan
Lung Cheong Toys Co., Ltd. and as a production supervisor and director of the
production department at MABUCHI Motor, the world’s largest micro-motor
manufacturer. Mr. Xiao holds a Bachelor's Degree in Machinery Manufacturing
Technology and Equipment Automation from Central South University, and he
received his Master's Degree in Mechanical Engineering from Wuhan University of
Technology in 1990.
Mr.
Shengping Wang has more than 10 years of solid micro-motor industry experience,
and is proficient in micro-motor design and production. Before joining China
Electric Motor, Mr. Shengping Wang was General Manger of Shenzhen Chengzheng
Technology Co., Ltd, an integrated business that engages in the production and
operation of winding and spot-welding machines, the technology development and
sale of micro motors and associated devices, and the development of high-tech
electronic software, for approximately 7 years. From March 1996 to February
2003, Mr. Wang acted as lead fonder of the Guangzhou factory and manager of the
R&D design and manufacturing center of Standard Motor Co., Ltd. Mr. Wang
also served as a motor production engineer at MABUCHI Motor, the world’s largest
micro-motor manufacturer, from since February 1992 until March 1996. He served
as production engineer of the Qinghai oil pump and glib factory from August 1988
until February 1992. Mr. Wang received a Bachelor’s Degree in Machinery
Manufacture and Equipment specialty from the Engineering Institute of
Shenyang.
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About
China Electric Motor, Inc.
China
Electric Motor, Inc. (Nasdaq: CELM) is a China-based company that engages in the
design, production, marketing and sale of micro-motor products through its
subsidiary Shenzhen YPC. The Company’s products are incorporated into consumer
electronics, automobiles, power tools, toys and household appliances, and are
sold under its “Sunna” brandname. The Company provides micro-motor products that
meet the growing demand for efficient, quiet and compact motors from
manufacturers of consumer electronics, automobiles, power tools, toys and
household appliances. China Electric Motor, Inc. sells its products directly to
original equipment manufacturers and to distributors and resellers both
domestically in the People’s Republic of China and internationally to customers
in Korea and Hong Kong. The Company’s manufacturing facilities are located
in Shenzhen, Guangdong.
Forward-looking
Statements
Safe
Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
Certain of the statements made in the press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by the use of forward-looking
terminology such as "believe," "expect," "may," "will," "should," "project,"
"plan," "seek," "intend," or "anticipate" or the negative thereof or comparable
terminology. Such statements typically involve risks and uncertainties and may
include financial projections or information regarding the progress of new
product development. Actual results could differ materially from the
expectations reflected in such forward-looking statements as a result of a
variety of factors, including our ability to maintain and increase revenues and
sales of our products, our ability to develop and market new products, our
strategic investments and acquisitions, compliances and changes in the laws of
the People’s Republic of China (the “PRC”) that affect our operations, and
vulnerability of our business to general economic downturn, especially in the
PRC, and other risk factors detailed in reports filed with the Securities and
Exchange Commission from time to time.
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Investor
Contacts:
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Dexter
Fong
China
Electric Motor, Inc.
+86
(755) 8278 6083
dexterfong@gmail.com
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Simon
Ze
China
Electric Motor, Inc.
+86
(755) 8257 7750
ze_simon@hotmail.com
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Investor
Relations (HK):
Ruby
Yim
Taylor
Rafferty
+852
3196 3712
ChinaElectricMotor@Taylor-Rafferty.com
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Investor
Relations (US):
Delia
Cannan
Taylor
Rafferty
+1
(212) 889-4350
ChinaElectricMotor@Taylor-Rafferty.com
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Media
Contact:
Jason
Marshall
Taylor
Rafferty
+1
(212) 889-4350
ChinaElectricMotor@Taylor-Rafferty.com
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Investor
Relations (US):
John
Baldissera
BPC
Financial Marketing
+1
(800) 368-1217
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