BEIJING, April 11, 2012 /PRNewswire-Asia-FirstCall/ -- Fushi Copperweld, Inc. ("Fushi" or the "Company") (NasdaqGS: 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 commented on the report issued by Muddy Waters on April 10, 2012. Fushi Copperweld has reviewed the report and categorically denies all of its claims, which are vague and non-specific, and were made in the absence of any discussion with the Company. The Company also announced that it expects to report results for the first quarter of 2012 on May 3, 2012. The Company is committed to providing full and accurate disclosure to investors and to rebutting any false claims that attempt to undermine confidence in the Company's business, management, and operations. About Fushi Copperweld Fushi Copperweld Inc., through its wholly owned subsidiaries, Fushi International ( Dalian) Bimetallic Cable Co. Ltd., and Copperweld Bimetallics LLC, is the leading manufacturer and innovator of copper-clad bimetallic engineered conductor products for electrical, telecommunications, transportation, utilities and industrial applications. With extensive design and production capabilities, and a long-standing dedication to customer service, Fushi Copperweld is the preferred choice for bimetallic products worldwide. 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 www.sec.gov. For more information, please contact:InvestorsJolin Qiao, Investor Relations OfficerFushi Copperweld Inc.Phone +1.615.377.4183E-mail: IR@fushicopperweld.com Web: www.fushicopperweld.com
Fushi Copperweld (Nasdaq:FSIN) is trading at unusually high volume Tuesday with 2.2 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up 15 cents (+2.6%).