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China Bio Energy Holdings Group Announces Appointment of New Chief Financial Officer

Posted on: Tuesday, 26 May 2009, 06:00 CDT

XI'AN, China, May 26 /PRNewswire-Asia-FirstCall/ -- China Bio Energy Holdings Group (OTC Bulletin Board: CBEH), a leading integrated bio-diesel producer & distributor and wholesale distributor and processor of heavy oil and finished oil products in China, today announced the appointment of Mr. Albert Pu as the Company's Chief Financial Officer, effective May 12, 2009. Mr. Pu joined the Company in February 2009 as the Vice President of Finance. Ms. Li Gaihong who served as Chief Financial Officer of the Company shall continue with the Company in the position as Financial Controller.

"We are pleased to have Albert Pu join our management team and believe that he will provide critical financial leadership as we continue to elevate CBEH's position in the public markets," stated Mr. Gao Xincheng, Chief Executive Officer of China Bio Energy Holdings Group. "We are delighted to have him as our new Chief Financial Officer and believe he will make significant contributions and support for our future growth and development."

Prior to joining the Company, from 2005 through 2009, Mr. Pu served as Global Controller of Amphenol Corporation Industrial Operations, a division of Amphenol Corporation (NYSE: APH), a U.S. based multi-national manufacturing company specializing in interconnect systems, where he was in charge of facilities in the U.S., Mexico and China. From 2004 through 2005, Mr. Pu was the Director of Finance of Endicott Interconnect Technologies, Inc., a U.S. based company specializing in high-end interconnect technologies for industrial and military applications. Mr. Pu has over 19 years of accounting and auditing experience, B.S. in Accounting from the State University of New York, Institute of Technology in 1990 and is a New York State Certified Public Accountant.

Mr. Albert Pu commented, "I welcome the opportunity to serve as Chief Financial Officer of China Bio Energy Holdings and look forward to contributing to this critical position. We are well positioned to further increase our bio-diesel production capabilities while expanding both our wholesale and retail fuels distribution business throughout China."

About China Bio Energy Holdings Group

CBEH is a distributor of refined oil products including gasoline, diesel, and heavy oil, and a manufacturer and distributor of bio-diesel fuel. CBEH's bio-diesel fuel is made at its 100,000-ton capacity facility in Shaanxi Province. Feedstock consists of naturally growing non-edible seeds and waste oil from restaurants. CBEH's bio-diesel can be used as a complete substitute for petro-diesel or can be blended with petro-diesel. The Company's products are sold via its own distribution network, which includes four fuel depots in Shaanxi Province that have both road and rail access.

Cautionary Statement Regarding Forward-Looking Information

The upcoming presentations and discussions may contain forward-looking information about the Company. Forward-looking statements are statements that are not facts. 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, and statements which may include discussions of strategy, and statements about industry trends future performance, operations and products of each of the entities referred to above. Actual performance results may vary significantly from expectations and projections as a result of various factors, including without limitation and the risks set forth "Risk Factors" contained in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and the Registration Statement on Form S-1 and the amendments thereto filed with the Securities and Exchange Commission.

SOURCE China Bio Energy Holdings Group

Source: PR Newswire

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