Check on China: Sutor Technology Group

China is attracting Wall Street's attention like never before. And with good reason: after all, a country that dominates the low-end consumer market in everything from clothing to toys to consumer electronics simply can't be ignored. The nation of 1.3 billion has become an economic juggernaut that has propelled Chinese companies onto the world stage and made China an integral part of the global economy.

China's economy grew 11.4% in 2007, the fastest in 13 years, and that type of growth requires an enormous amount of raw materials to fuel the country's rapid industrialization and urbanization. In fact, China now consumes roughly 50% of the world’s cement, about 25% of all aluminum and copper and nearly 40% of the steel supply. Which brings us to Sutor Technology Group, Ltd. (Nasdaq: SUTR). 

Founded in 2003, Changshu-based Sutor is one of China's leading private manufacturers of steel finishing fabrication products for a wide range of industrial uses. Sutor uses a number of processes to convert steel supplied by third parties into products including hot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel and hard cold-rolled steel for use in automobiles, seagoing vessels, household appliance parts and outer casings, electronics, construction materials and large industrial equipment. Roughly 90% of the company's products are supplied to the Chinese market, while the remainder is exported to the United States, Europe, Asia and South Africa.

Last year, the company introduced a new antistatic color coating technology engineered for its steel strips. It also secured a contract to supply 10,000 tons of hot-dip galvanized steel to Anhui Water Resources Development Co., Ltd., a company engaged in various commercial building and infrastructure development projects. The pursuit of new technologies, expansion of production lines and increased market penetration has already begun to pay off for Sutor.

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