Chemspec International Limited Announces Management Appointment
SHANGHAI, Nov. 5 /PRNewswire-Asia-FirstCall/ -- Chemspec International
Limited (NYSE: CPC; "Chemspec" or the "Company"), a leading China-based
contract manufacturer of highly-engineered specialty chemicals, today
announced the appointment of Dr. Peter H. Shu as Senior Vice President of
Business Development. Dr. Shu will work together with the management team to
oversee business development activities and lead new business initiatives.
Dr. Shu joins Chemspec with over 30 years of experience in marketing,
sales, technology and management in multinational chemical companies in the
United States, Hong Kong and Taipei. Most recently, Dr. Shu served as Global
Marketing Manager in the Plastics Additives Business of Rohm and Haas, which
is now a wholly owned subsidiary of the Dow Chemical Company. In this position,
he directed a global strategic marketing and sales team. He also developed and
implemented a global marketing and sales strategy. Prior to Rohm and Haas, Dr.
Shu held a variety of roles with increasing responsibilities at Bayer AG from
1985 to 2005. He contributed significantly to the fast and profitable growth
of various Bayer companies through his leadership in marketing and new
business development, which included a number of strategic alliances and joint
ventures.
Dr. Shu holds a Ph.D. in Polymer Chemistry from Rensselaer Polytechnic
Institute, an MBA from the State University of New York at Albany, and a B.S.
in Chemistry from National Taiwan University. Dr. Shu has nine patents and 17
publications.
"We are pleased that Dr. Shu has decided to join our company. He brings a
strong track record of managerial experience from the United States, the Asia
Pacific Region and Germany. I am confident that he can leverage his expertise
in strategic planning and business development to expand our business in a
variety of new dimensions. I also believe Peter can help our company achieve
significant improvements on an operating level as well," commented Dr. Jianhua
Yang, Chairman and CEO of Chemspec.
About Chemspec
Chemspec is a leading China-based contract manufacturer of highly
engineered specialty chemicals and the largest manufacturer of fluorinated
specialty chemicals in China based on sales. In manufacturing specialty
chemicals, Chemspec also provides process design and process development
services, which enable efficient and rapid production of specialty chemicals
that are incorporated into the products of Chemspec's end users. Chemspec's
customers and end users include electronics, pharmaceutical and agrochemical
companies. For more information, please visit http://www.chemspec.com.cn .
Safe Harbor Statements
This announcement contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements.
Such statements involve certain risks and uncertainties that could cause
actual results to differ materially from those in the forward-looking
statements. Further information regarding these and other risks is included in
Chemspec's filings with the U.S. Securities and Exchange Commission, including
its registration statement on Form F-1, as amended from time to time. Chemspec
does not undertake any obligation to update any forward-looking statement,
except as required under applicable law.
For further information, please contact:
Chemspec International Ltd.
In Shanghai
Bing Zhu
Chief Financial Officer
Tel: +86-21-63638108
Email: ir@chemspec.com.cn
Christensen
In New York
Kathy Li
Tel: +1-212-618-1978
Email: kli@christensenir.com
In Hong Kong
Tip Fleming
Tel: +852-9212-0684
Email: tfleming@christensenir.com
