Sutor Technology Group Limited a leading China based non-state owned manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of downstream applications provided an update on its previously announced USD 5 million share repurchase program.

As of November 25 2011 the Company has repurchased 409,922 shares of common stock at an average price of USD 1.16 per share for a total share repurchase to date of approximately USD 0.48 million. The Company expects to continue to repurchase shares according to the share repurchase program.

Ms Lifang Chen CEO and Chairwoman of Sutor said "The repurchase of shares reflects our confidence in the long term prospects of Sutor. We believe that the Company is financially strong and has good liquidity. While undertaking a major capacity expansion project which is expected to commence operations next year, we also maintain an on-going stock repurchase program to demonstrate our commitment to our shareholders."