SOURCE: Tongxin International Ltd.

December 22, 2010 08:00 ET

Tongxin International Ltd. Announces New Appointments to Global Management Team

CHANGSHA, CHINA--(Marketwire - December 22, 2010) - 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 appointment of Arthur Tu as Vice President of Finance of its China Operations and Tom Chang as Vice President of Finance of its North America Operations. 

Mr. Tu replaces Mr. Wenming Luo, who is now taking on the role of Vice President of Industry and Government Relations. Mr. Tu previously served, from 2004 to 2010, as the Chief Financial Officer of WOFE (wholly owned foreign enterprise) Operations in China for PBR International Ltd., a major international manufacturer of brake systems with turnover in 2007 of US$25 million and with US$65 million equity investment. As PBR's first CFO in China, Mr. Tu established the company's accounting team and supervised the training, hiring, and ongoing development of all accounting and finance staff and helped expand its China operations. 

Prior to PBR, Mr. Tu served, from 2000 to 2003, as Finance Director for Tyco Thermal Controls, a WOFE construction products company with global operations, listed on the New York Stock Exchange. Before that, he held the position of Group Financial Controller of Automotive Component Group (ASIMCO), a VC invested company in China that made automotive components for both the Chinese and U.S. markets. Mr. Tu holds an MBA in Accountancy and Finance from Missouri State University-Warrensburg.

At Tongxin, Mr. Tu reports directly to Mr. Zhang Duanxiang, Chairman of Tongxin, and Mr. William Zielke, Chief Executive Officer and Chief Administrative Officer of the Company. 

Mr. Chang's position as Vice President of Finance of Tongxin North America Operations was recently created to support TXIC's financial operations and corporate consolidation activities in North America. In addition to leading all financial and corporate consolidation activities, Mr. Chang will serve as a lead contact with the investment community in the U.S. Mr. Chang worked previously for Tongxin as Managing Director of Finance from April to August 2009. He left to take the position of Controller of Linkyo Corporation (dba SuperMediaStore.com, a California-based online retailer), where he successfully upgraded that company's financial operations with the launch of "Multiview," the company's new accounting system. Previously, from 2002 to 2009, he served as VP of Finance for the Meloling Corporation, headquartered in California. From 1997 to 2003, he was Senior Vice President at Tehdex Corporation in California. He returns to Tongxin beginning January 1, 2011. He will report to Tongxin CEO William E. Zielke until a new CFO is named. Chang holds an MBA in Finance and Management Information Systems from Illinois Institute of Technology and is a Certified Public Accountant. 

William E. Zielke, Chief Executive Officer and Chief Administrative Officer of the Company, commented, "In order to take advantage of the growth opportunities that lie ahead for Tongxin, it was essential at this time to strengthen our management team and bring in a new level of oversight to our finance operations. We are pleased to have retained two seasoned financial executives that have both already proved paramount to moving our business in the right direction."

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 100 customers throughout 20 provinces in China. Headquartered in Changsha, the Company also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

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.

www.txicint.com

Contact Information

  • CONTACT:
    Investor Relations
    Stanley Wunderlich
    Consulting For Strategic Growth 1, Ltd.
    Tel: 1-800-625-2236 ext. 7770
    Email: Email Contact
    Website: www.cfsg1.com