Partnerships: Sutor Technolgy, China Construction Bank

September 3, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Sutor Technology Group, Ltd. (NASDAQ: SUTR), a China-based manufacturer and distributor of finished steel products and welded steel pipes used by a range of down-stream applications, said that its wholly owned subsidiary Changshu Huaye Steel Strip Company, Ltd., has signed a strategic cooperation agreement with China Construction Bank.

Under the agreement, China Construction Bank will provide Sutor with financial total solutions services covering various services, including bank loans, lines of credit, consultation for mergers & acquisitions, asset management and restructuring.

Lifang Chen, chairwoman and CEO of Sutor said that the deal will enhance the firm’s liquidity and provide the company with capital to pursue growth opportunities. It will also help Sutor improve its overall ability to manage capital and utilize the capital markets, according to Chen.

China Construction Bank is a commercial bank in China providing a range of commercial banking products and services. Its business consists of three principal business segments: corporate banking, personal banking, and treasury operations.

China-based Sutor makes finished steel products and welded steel pipes used for solar energy, household appliances, medical instruments, IT, building & construction, and automobiles.

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