Marc Siegel of China Direct Inc. Receives Ernst & Young's 'Entrepreneur Of The Year' Award
June 06 2008 - 7:23AM
PR Newswire (US)
Company Co-Founder Honored for Innovative and Successful Approach
to Doing Business in China DEERFIELD BEACH, Fla., June 6
/PRNewswire-FirstCall/ -- China Direct, Inc. co-founder and
President, Marc Siegel received the Ernst & Young Entrepreneur
Of The Year(R) 2008 Award for the Emerging category in Florida. Mr.
Siegel was selected by an independent panel of judges and the award
was announced last night during a black-tie gala at the Gaylord
Palms Resort in Orlando. The annual Ernst & Young Entrepreneur
Of The Year Award program, now in its 22nd year, honors
entrepreneurs who have demonstrated excellence in such areas as
innovation, financial performance and personal commitment to their
businesses and communities. Ernst & Young's Entrepreneur Of The
Year is the world's most prestigious business award for
entrepreneurs. The award makes a difference through the unique way
it encourages entrepreneurial activity among those with potential
and recognizes the contribution of people who inspire others with
their vision, leadership and achievement. As the first and only
truly global award of its kind, Ernst & Young Entrepreneur Of
The Year celebrates those who are building and leading successful,
growing and dynamic businesses, recognizing them through regional,
national and global awards programs in more than 135 cities in 50
countries. Founded by Marc Siegel, and Dr. James Wang, CEO and
Chairman, China Direct, Inc. has achieved remarkable success in the
past year and a half through its majority share acquisitions of
small to mid-sized Chinese companies, primarily involved in natural
resource and basic materials production. China Direct identifies
companies that have strong growth potential, but have not been able
to grow due to a lack of access to capital. Many of the companies
are in remote regions of China that are overlooked by larger
Western firms. The company advises these firms on how to become
compliant with standard U.S. financial practices, and works with
the domestic management to grow the business. Since it went public
in August 2006 with revenues of $14 million, China Direct Inc. has
increased its revenues to $174 million in 2007, and has a forecast
of $320 million for 2008. Mr. Siegel said, "It is a profound honor
to be recognized by such a prestigious award, and a testament to
our vision that the entrepreneurial spirit that has fueled so much
growth in this country should be made available to the emerging
companies of China's future." As a regional award winner, Marc
Siegel is now eligible for consideration for the Ernst & Young
Entrepreneur Of The Year 2008 national program. Award recipients in
several national categories, as well as the overall national Ernst
& Young Entrepreneur Of The Year award recipient, will be
announced at the annual awards gala on November 15, 2008, hosted by
Jay Leno. The national Entrepreneur Of The Year celebration is part
of Ernst & Young's Strategic Growth Forum. The overall national
award recipient is then considered for the world event held in
Monte Carlo. About China Direct, Inc. China Direct, Inc.
(NASDAQ:CDS) is a diversified management and advisory services
organization headquartered in the U.S. Our management services
division acquires a controlling interest in entities operating in
China. Our ownership control enables China Direct to provide
management advice, as well as financing to Chinese entities. This
infrastructure creates a platform to expand business opportunities
globally while accessing the U.S. capital markets. Our advisory
services division provides comprehensive advisory and consulting
services to Chinese entities seeking to access the U.S. capital
markets. As a direct link to China, China Direct serves as a
vehicle allowing investors to directly participate in the rapid
growth of the Chinese economy in a diversified and balanced manner.
For more information about China Direct, please visit
http://www.chinadirectinc.com/ . DATASOURCE: China Direct, Inc.
CONTACT: Media, Rachel Carr of Dan Klores Communications,
+1-212-981-5253, or Brian Moriarty, +1-212-981-5252, or Alicia
Nieva-Woodgate, +1-415-515-0866; or Investors, Alan Sheinwald of HC
International, Inc., +1-914-669-0222, ; or Company, Richard
Galterio, Executive Vice President of China Direct, Inc.,
+1-877-China-57, Web site: http://www.chinadirectinc.com/
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