Fushi Copperweld Signs Sales and Distribution Agreement with Copperhead Industries LLC.
Copperweld, Inc., (the “Company”) (Nasdaq: FSIN), the leading global
manufacturer and innovator of copper-clad bimetallic wire used in a variety of
telecommunication, utility, transportation and other electrical applications,
today announced that it has executed a five-year exclusive representative
agreement with Copperhead Industries, LLC (“Copperhead”). Under the terms of
the agreement, Copperhead has the exclusive right to purchase, inventory,
promote, or sell the Company’s copper-clad steel (CCS) Tracer Wire Products or
finished goods containing Copperweld(R) CCS Tracer Wire Products within
United States
Copperhead is a leading manufacturer and distributor of Extra High
Strength (EHS) Copper-Clad Steel (CCS) Tracer Wire products used to
conductively locate buried utility lines for the gas, water, sewer,
telecommunication, and electrical markets within
Jointly Copperhead and Copperweld Bimetallics were the innovators in the
development and marketing of EHS CCS for use as Tracer Wire in Reinforced
Directional Drilling Products. Copperhead holds a patent for the use of EHS
CCS in all Directional Drilling Applications. Copperhead’s product
significantly outperforms conventional pure copper wire based Tracer Wire by
combining the strength of hi-carbon steel with the conductivity and corrosion
resistance of copper. As a result, Copperhead’s CCS Tracer Wire products
provide a more cost-effective composite with superior performance
characteristics over traditional 100% copper wire. This agreement will also
allow for the two companies to continue to develop and expand its product
offerings utilizing Fushi Copperweld CCS products even further into the
expanding Tracer wire market.
“We have a strong, long-standing relationship with Copperhead. Our CCS
products have been utilized by Copperhead for more than 6 years and we are
pleased to have them representing the full line of Fushi Copperweld tracer
wire products,” said
Copperweld. “We view the utility market as a strong growth area for our CCS
products. We believe that continued commitment to Copperhead’s breakthrough
– the world’s first Tracer Wire that utilizes a CCS composite conductor –
will allow us to further expand our utility sales through partnership with a
growing market leader and innovator.”
to renew our business agreement with Fushi Copperweld. Since the inception of
our initial partnership in 2004, we have worked together to provide more
efficient, cost effective product solutions for our customers. With the
signing of this new agreement, we are very optimistic that we can continue to
grow our market share and develop new areas for use of CCS wire.”
About Fushi Copperweld, Inc.
Fushi Copperweld, Inc. through its wholly owned subsidiaries, Fushi
International (
LLC, is the leading manufacturer and innovator of copper-cladded bimetallic
engineered conductor products used in the electrical, telecommunications,
transportation, utilities and industrial industries. With extensive design
and production capabilities and a long-standing dedication to customer service,
Fushi Copperweld, Inc. is the preferred choice bimetallic products world-wide.
For more information, visit: http://www.fushicopperweld.com .
About Copperhead Industries, LLC.
Copperhead Industries, LLC is a
in developing products and solutions for the maintenance and installation of
underground utility infrastructure. Copperhead is the leading manufacturer of
copperclad steel tracer wire and related products in
more information, visit: http://www.copperheadwire.com .
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking statements.
Forward-looking statements can be identified by the use of forward-looking
terminology such as “will” “believes”, “expects” or similar expressions.
These forward-looking statements may also include statements about our
proposed discussions related to our business or growth strategy, which is
subject to change. Such information is based upon expectations of our
management that were reasonable when made but may prove to be incorrect. All
of such assumptions are inherently subject to uncertainties and contingencies
beyond our control and upon assumptions with respect to future business
decisions, which are subject to change. We do not undertake to update the
forward-looking statements contained in this press release. For a description
of the risks and uncertainties that may cause actual results to differ from
the forward-looking statements contained in this press release, see our most
recent Annual Report filed with the Securities and Exchange Commission (SEC)
on Form 10-K, and our subsequent SEC filings. Copies of filings made with the
SEC are available through the SEC’s electronic data gathering analysis
retrieval system (EDGAR) at http://www.sec.gov .
For more information, please contact:
Nathan J. Anderson
Vice President of Investor Relations
Fushi Copperweld, Inc.
Tel: +1-931-433-0482
Email: IR@fushicopperweld.com
SOURCE Fushi Copperweld, Inc.