Jinpan International Appoints New Independent Director
July 07 2009 - 3:01PM
PR Newswire (US)
ENGLEWOOD CLIFFS, N.J., July 7 /PRNewswire-FirstCall/ -- Jinpan
International Ltd. (NASDAQ:JST), a leading designer, manufacturer
and distributor of cast resin transformers for power distribution,
today announced that its Board of Directors has appointed Dr. Cai
Xu to the position of independent director on June 23rd, 2009. Dr.
Cai will serve as an independent director until the next
shareholder's meeting, when he will then stand for reelection. Dr.
Cai is a distinguished faculty member of the School of Electronic,
Information, and Electrical Engineering at Shanghai Jiaotong
University, one of China's leading research universities. He first
joined the faculty of Shanghai Jiaotong University in 2002. His
research focuses on the application of high power electronics in
electric systems, generators, and related electrical equipment, on
the automation of power distribution networks, and on wind power
grid connection and conversion technology. Since 2008, he has
chaired the University's Wind Energy Research Centre. The Centre
combines research expertise in the fields of electrical,
mechanical, control, and oceanic engineering to create a
multidisciplinary platform for the research of wind energy. The
Centre provides consultation services for the Chinese government
and both public and private industries. Prior to joining the
faculty of Shanghai Jiaotong University, from 1988 to 2002, Dr. Cai
served on the faculty of China University of Mining and
Technology's Department of Electrical Engineering, rising to the
position of the vice chairman of the department. From 1983 to 1985,
Dr. Cai served as a researcher at the Wuhan Power Bureau's High
Voltage Power Research Institute. Dr. Cai received his Ph.D and
master's degrees in electrical engineering from China University of
Mining and Technology in 2000 and 1988. He received his bachelor's
degree in power generation and electrical systems from China South
East University in 1983. To date, Dr. Cai has published some 40
articles in various academic and industry journals and is the named
inventor in 3 patents issued by the People's Republic of China. Mr.
Zhiyuan Li, Chief Executive Officer of Jinpan, commented, "We are
glad to have Dr. Cai join us as an independent director. Dr. Cai
brings to the board rich technical and industry experience,
particularly in the fields of power electronics and wind energy. As
Jinpan moves up the value chain to produce more sophisticated,
higher margin integrated and alternative energy products, we expect
to benefit from Dr. Cai's experience and guidance." About Jinpan
International Ltd. Jinpan International Ltd. (NASDAQ:JST) designs,
manufactures and distributes cast resin transformers and other
complementary power distribution equipment. Jinpan's cast resin
transformers allow high voltage transmissions of electricity to be
distributed to various locations at lower, more usable voltage
levels. The Company has obtained ISO9001 and ISO14001
certifications of its primary manufacturing facilities. Its cast
resin transformers are UL certified. The Company's principal
executive offices are located in Haikou, Hainan, P.R. China and its
U.S. headquarters is based in Englewood Cliffs, New Jersey. Safe
Harbor Provision Statements in this press release which are not
historical data are forward-looking statements which involve known
and unknown risks, uncertainties or other factors not under the
company's control, which may cause actual results, performance or
achievements of the company to be materially different from the
results, performance or other expectations implied by these
forward-looking statements. These factors include, but are not
limited to, those detailed in the company's periodic filings with
the Securities and Exchange Commission. DATASOURCE: Jinpan
International Ltd. CONTACT: Investors, Mark Du, Chief Financial
Officer of Jinpan International Ltd., +1-201-227-0680; or at ICR,
Inc., in China, William Zima, +86-10-6599-7969, or in the U.S.,
Brian M. Prenoveau, CFA, +1-203-682-8200
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