NEW YORK (AP) â¿¿ China Valves Technology Inc. said Thursday it has appointed a new chief financial officer.

Gang Wei, who held a similar position for State Grid International Development Ltd., will take over the position immediately. Wei will replace Renrui Tang, who had held the position on an interim basis since June. Tang will remain as the company's financial controller.

The Kaifeng City, China company makes metal valves for a variety of industrial uses in China.

Shares fell 6 cents to $10.04 in morning trading.

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