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| 8-K - China Energy CORP | v187478_8k.htm |
China Energy Corporation Appoints Paul
Li, Stephen Markscheid and Brock Silvers to its Board of
Directors
Jun. 7, 2010 (PR Newswire)
--
HOHHOT CITY, China, June 7
/PRNewswire-Asia-FirstCall/ -- China Energy Corporation (OTC Bulletin Board:
CHGY), ("China Energy" or "the Company"), a leading Inner Mongolia producer and
processor of raw coal for domestic heating, electrical generation, and coking
purposes for steel production in the People's Republic of China, today announced
that it has appointed Paul Li, Stephen Markscheid and Brock Silvers to its Board
of Directors effective immediately. 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 31, 2010.
"We are pleased to welcome Mr. Li, Mr.
Markscheid and Mr. Silvers 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 producer and processor of coal in Inner Mongolia,"
stated Mr. WenXiang
Ding, Chairman, Chief
Executive Officer and President of the Company. "Their extensive financial,
managerial and operational experience and their expertise in the areas of
corporate finance and accounting, compliance and international trade will bring
additional depth and strength to our Board of Directors and leadership
team."
Mr. Li is an expert on risk-based
auditing, GAAP financial reporting, SEC compliance and forensic auditing. He
began his internal audit career as a manager with the St. Paul Companies and
Prudential Company. More recently, Mr. Li was an internal audit and compliance
officer with Countrywide Financial Corporation. From there he moved on to US
government forensic auditing. Mr. Li had prior experience as CFO of Hainan
Jinpan International (JST), Taiheng International, C&M Holding and Transtate
Insurance Company. Mr. Li was an adjunct assistant professor with the College of
Insurance and guest lecturer at Nanjing University. Mr. Li obtained a master's
degree in risk management from the College of Insurance and has 34 years of
financial management experience. Mr. Li is a U.S. certified public accountant
(CPA) licensed in California and New Jersey.
Mr. Markscheid, who has extensive
experience in the global banking, corporate finance and capital market sectors,
currently serves as chief executive officer of Synergenz BioScience Inc., a Hong
Kong-based genomics company. Previously he was chief executive officer of HuaMei
Capital Company, Inc., China's first U.S.-based investment bank, as well as
senior vice president for global risk at GE Healthcare Financial Services, and
director of business development at GE Capital in both Beijing and Singapore. He
also has held consulting, consumer and corporate finance positions for Chinese
and global clients at Boston Consulting Group, First Chicago Bank and Chase
Manhattan Bank. Mr. Markscheid received his MBA from Columbia University, MA in
International Affairs & Economics from Johns Hopkins University and BA in
East Asian Studies from Princeton University. He currently serves as an
independent director on the boards of CNinsure, Inc., a NASDAQ-listed insurance
brokerage company, and Jinko Solar, Inc. a NYSE-listed solar PV manufacturer. He
also serves on the investment committees of two separate Hong Kong-based private
equity funds, Emerald Hill Capital Partners and Pacific Alliance China Growth
Fund.
Mr. Silvers has more than two decades of
senior investment and operating experience in China and Asia, with a specific
emphasis on the energy industry. He previously served as CEO of Laris Group, a
China-based hospitality portfolio, and CEO of Envirofit International, an
environmental technology firm operating in the Asia Pacific region. Mr. Silvers
was also a co-founding Partner of Power Pacific Company, a private equity firm
focused on Chinese energy industry investments, and served as Director -
International Development for Eagle Industries, a multi-billion dollar
industrial holding company controlled by renowned U.S. investor Sam Zell. Mr.
Silvers' Board experience includes serving as an Executive Director with
Envirofit International, Power Pacific Company, and Shijiazhuang Yongtai Cogen
Joint Venture. He received his MBA in Finance from the Wharton School -
University of Pennsylvania, his M.A. in International Studies (Chinese Language
& Culture) from the Lauder Institute - University of Pennsylvania, and his
B.A. in Chinese Studies from Columbia University. Mr. Silvers is fluent in
Mandarin.
In addition to Mr. Ding and the newly
named Directors, China Energy's Board of Directors also includes Ms. YanHua Li, Vice-General Manager of China Energy's
Coal Group.
About China Energy
Corporation
China Energy Corporation produces and
processes raw coal for domestic heating, electrical generation and coking
purposes for steel production in the People's Republic of China, and acts as a
brokerage in facilitating coal trade transactions. The Company produces coal
through its subsidiary Inner Mongolia Tehong Coal Group Co, Ltd. ("Coal Group")
and supplies heating and electricity requirements throughout the XueJiaWan
district through its subsidiary Inner Mongolia Zhunger Heat Power Co., Ltd.
("Heat Power"). Through Heat Power, China Energy operates a thermoelectric plant
and 32 heat transfer stations located in XueJiaWan, Ordos City in which the
Company is at present the only government licensed supplier for heating. For
additional information on China Energy Corporation see http://www.ceccec.com
.
For more information, please
contact:
Company:
Alex (Yuan) Gong, Chief Financial
Officer
Tel: +86-10-5203-6900
Email:
alexgong08@gmail.com
Investor Relations:
HC International,
Inc.
Ted Haberfield, Executive
VP
Tel: +1-760-755-2716
Email:
thaberfield@hcinternational.net
SOURCE China Energy
Corporation