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Longhai Steel, Inc. (LGHS)

Longhai Steel, Inc. (LGHS) is a leading producer of high-quality steel wire in eastern China, with annual capacity of 1.5 million metric tons. Longhai's wire is manufactured into screws, nails, and wire mesh used for fencing and to reinforce concrete. Longhai recently expanded its production facility to include specialized applications such as steel wire rope, steel strand, steel belted radial tires, and steel welding rod. Longhai Steel is headquartered in Xingtai, Hebei province, the People's Republic of China.

The company's competitive advantages are its advanced production equipment and process technology, high product quality, expedited production, and close proximity to distributors and end users. Longhai Steel recently opened a second production line, which increases its overall capacity by 67% and expands its product portfolio into higher quality steel wire for specialized applications such as steel wire rope, steel strand, steel belted radial tires, and steel welding rod.

Longhai Steel's growth strategy includes capitalizing on government actions aimed at encouraging industry consolidation via the acquisition of neighboring producers at attractive valuations. The company also plans to grow organically through capacity expansion, broadening its product portfolio, improving operating efficiencies, and continued expansion of technical expertise.

China is the world's largest producer and consumer of steel and steel wires. Demand for steel products is primarily driven by spending in the construction, automotive, and infrastructure industries in China. Continued economic development in Hebei, one of the largest steel manufacturing regions in China, and neighboring provinces, and further buildout of tier 3-6 cities in China, provide tremendous medium and long term opportunities for Longhai Steel.

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4045 South Spencer St. Suite 409
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3370 N. Hayden Rd.
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480-374-1336

Key Investment Highlights
Best practices in corporate governance
Government policies support consolidation
Positioned to achieve near-term growth

Industry
Sector: Basic Materials
Industry: Metals & Mining
Sub-Industry: Steel & Iron

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Chairman and CEO - Chaojun Wang
Mr. Wang has served as Chairman and Chief Executive Officer since March 2010, and has served as the Chief Executive Officer of their Chinese operating company since its inception in 2008, and has also served as Chairman of the Longhai Steel Group, the former parent company, since 1999. Mr. Wang is a member of the local parliament. He holds a Bachelor's degree in Enterprise Management from the Shijiazhuang Railway College. Born in 1955, he is 55 years old.

Chief Financial Officer - Heyin Lv
Mr. Lv joined Xingtai Longhai Steel Group Co., Ltd., the company's then parent company in April 2008. He was later appointed as the Chief Financial Officer of Xingtai Longhai Wire Rod Co., Ltd., the company's operating subsidiary, and served from August 2008 to July 2011. He was responsible for financial reporting, financial planning and analysis, budgeting and treasury management. From 2007 to March 2008, Mr. Lv was an auditor with Xingtai Zhengda Audit Firm. In 2006, Mr. Lv was the Financial Director of Hebei Xingda Group, responsible for financial reporting and treasury management. From 2001 to 2005, Mr. Lv served as the Financial Manager for Xingtai Century Auto Trading Co., Ltd., responsible for financial reporting and financing. Mr. Lv graduated from Xingtai Accounting and Trade School and earned a bachelor's degree in Accounting. He is a Certified Public Accountant in China.

Executive Vice President and Director - Steven Ross
Mr. Ross has over 25 years of senior management experience, ranging from high growth private companies to multi-billion dollar divisions of public enterprises. Mr. Ross is currently Managing Director of MTN Capital Partners ("MTN"), a New York-based private equity firm focused on lower middle market transactions. Prior to joining MTN, Mr. Ross was CEO of National Investment Managers from 2006 until its sale to a private equity firm in 2011. Under Mr. Ross' leadership, the company became the largest independent retirement services company in the country with over $11 billion in assets under administration and operations in 17 cities in the United States.

Mr. Ross' previous roles have included Vice President and General Manager of the Computer Systems Division of Toshiba America with overall responsibility for Toshiba's $3 billion computer business in the US and South America, as well as President & General Manager – Computer Reseller Division and President of Corporate Marketing at Inacom, a $7 billion Fortune 500 provider of computer products and services. Mr. Ross has also held senior management positions at DynTek, Intelligent Electronics, Dell Computer Corporation and PTXI/Bull HN Information Systems.

 

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