CHANGSHA, CHINA -- (Marketwire) -- 10/18/12 -- Tongxin International Ltd. (PINKSHEETS: TXIC), a China-based manufacturer of engineered vehicle body structures ("EVBS") and stamped parts for the commercial automotive industry, today announced the resignation of Marcus Chao from the Company's Board of Directors, effective October 10, 2012. Mr. Chao joined the Board in 2008 and has resigned for personal reasons.
Mr. Zhang Duanxiang, Chairman of the Board of the Company, stated, "Marcus has played a valuable role within our Board for the past five years, helping to pave the way for Tongxin's continued growth through China's turbulent automobile market. We thank him for his dedicated service and wish him well in his future endeavors."
Mr. Chao's resignation brings the number of Board members to six.
About Tongxin International Ltd.
Tongxin International Ltd., the largest independent
supplier of EVBS in China, is capable of providing EVBS for
both the commercial truck and light vehicle market
segments. The Company also designs, fabricates and tests
dies used in the vehicle body structure manufacturing
process. EVBS consists of exterior body panels including
doors, floor pans, hoods, side panels and fenders. Tongxin
International Ltd. maintains a network of over 130
customers throughout 21 provinces in China. Headquartered
in Changsha, the Company also maintains regional
manufacturing in Ziyang and Zhucheng. For more information,
please visit www.txicint.com or www.hntx.com.
Forward-Looking Statements
Statements contained in this press release, which
are not historical fact, constitute Forward-Looking
Statements. Actual results may differ materially due to
numerous important factors that are described in Tongxin
International Ltd.'s reports to the SEC, which may be
revised or supplemented in subsequent reports to the SEC.
Such factors include, among others, the cost and timing of
implementing restructuring actions, the Company's
ability to generate cost savings or manufacturing
efficiencies to offset or exceed contractually or
competitively required price reductions or price reductions
to obtain new business, conditions in the automotive
industry, and certain global and regional economic
conditions. Tongxin International Ltd. does not intend or
assume any obligation to update any forward-looking
statement to reflect events or circumstances after the date
of this press release.
Investor Relations Contact:
Stanley Wunderlich
Consulting For Strategic Growth 1, Ltd.
Tel: 1-800-625-2236 ext. 7770
Email: info@cfsg1.com
Website: www.cfsg1.com
Tongxin Corporate Headquarters
199 Pierce Street
Suite 202
Birmingham, MI 48009
www.txicint.com
www.hntx.com
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