BEIJING, June 1, 2010 /PRNewswire via COMTEX/ --Duoyuan Printing, Inc.
(NYSE: DYP) ("Duoyuan Printing" or the "Company"), a leading offset printing
equipment supplier in China, today announced the appointment of two new
independent board members: Ms. Naoko Hatakeyama, and The Honorable Paula J.
Dobriansky, effective May 26, 2010.
"We are delighted that Ms. Hatakeyama and Ambassador Dobriansky have
agreed to join Duoyuan Printing's board of directors," said Mr. Wenhua Guo,
Chairman and founder of Duoyuan Printing. "I am confident that their expertise
will be invaluable to management as we pursue our goal of becoming the top
provider of equipment to printing and packaging companies in emerging markets
"With her wealth of strategic consulting and acquisition experience, I am
confident that Naoko will play an important role as we leverage our solid
balance sheet and strong cash position to expand capacity and gain market
share," commented Christopher Holbert, Duoyuan Printing's chief executive
officer. "At the same time, Paula's experience in high level government roles
will further strengthen our management and provide us with valuable guidance
in public affairs and strategic communications," he continued. "Our decision
earlier in the year to engage Deloitte and Touche as our auditors, combined
with the addition to our board of these two incisive minds and proven leaders
demonstrates our ongoing commitment to first rate governance."
Ms. Hatakeyama engaged in corporate recovery and strategy consulting as a
founding partner of the Corporate Strategy Group of Deloitte Touche Group in
Japan. Before that she was a partner at Deloitte Touche Consulting Group (DTCG)
when Braxton Consulting, a Boston-based strategy consulting firm where she
started her consultant career, merged with DTCG in the U.S. Ms. Hatakeyama
holds a Masters degree in counseling and consulting psychology from the
Harvard University Education School.
"I am delighted to be joining Duoyuan Printing's board of directors,"
commented Ms. Hatakeyama. "With a sound financial strategy and exciting
expansion plans in place, I look forward to working with management to
position Duoyuan Printing for future success."
Ambassador Dobriansky has had key roles in the administrations of five U.S.
Presidents. Highlights include serving as Under Secretary of State for
Democracy and Global Affairs, the President's Envoy to Northern Ireland, a
Board Member of the U.S. Advisory Commission on Public Diplomacy and Director
for European and Soviet Affairs at the National Security Council. She was also
the Senior Vice President and Director of the Washington office of the Council
on Foreign Relations, a leading foreign policy think tank. During her 20-year
career in government, she led many high-level bilateral and multilateral
dialogues on a broad range of issues, and created innovative public relations
strategies to convey U.S. foreign policy views.
Ambassador Dobriansky added, "Duoyuan Printing is a leader in China's fast
growing printing industry and I am excited to join the company during this
time of significant growth. I look forward to working to enhance Duoyuan
Printing's management strategy and advising on international expansion plans."
About Duoyuan Printing
Duoyuan Printing (NYSE: DYP) is a leading manufacturer of commercial
offset printing presses in China. The Company combines technical innovation
and precision engineering to offer a broad range of printing equipment and
solutions. Duoyuan Printing has manufacturing and research and development
facilities in Langfang, Hebei Province and Shaoyang, Hunan Province in
addition to a distribution and service network with over 85 distributors that
operate in over 65 cities and 28 provinces in China. Headquartered in Beijing,
the Company is one of the largest non-government owned major offset printing
equipment and solutions providers in China. For further information, please
visit Duoyuan Printing's website http://www.duoyuan.com .
Safe Harbor Statement
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 that involve risks, uncertainties and
assumptions. All statements other than statements of historical fact in this
press release are forward-looking statements, including but not limited to,
our future financial condition, our expected corporate governance improvements
and international expansion plans. These forward-looking statements are based
on management's current expectations, assumptions, estimates and projections
about the Company and the industry in which the Company operates, but involve
a number of unknown risks and uncertainties, including, without limitation,
our ability to sustain our recent profitability and growth rates, the
possibility that we may not meet our strategic goals or may develop other
priorities, and other risk factors detailed in our Annual Report on Form 10-K
for the fiscal year ended June 30, 2009 and in our subsequent reports on Form
10-Q filed with the Securities and Exchange Commission and available at
http://www.sec.gov. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events or
circumstances, or changes in its expectations, except as may be required by
law. Although the Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and actual results may differ
materially from the anticipated results. You are urged to consider these
factors carefully in evaluating the forward-looking statements contained
herein and are cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these cautionary
For investor and media enquiries please contact:
Duoyuan Printing, Inc.
William Suh, CFO
Tel: +86-10-6021-2222 (Beijing)
SOURCE Duoyuan Printing, Inc.