HARBIN, China, Nov. 7 /Xinhua-PRNewswire/ -- Chang-On International Inc. (OTC Bulletin Board: CAON) ("CAON" or the "Company"), stated recently that it will benefit from the policy released by the Economic and Trade Commission of Jiangsu Province about continuously developing new energy-saving construction materials to cope with recycle economy industrialization and make strong efforts in building up a resources-saving type of society. CAON will target Jiangsu SF-construction materials’ market under such support.
The total production of Jiangsu province’s new wall materials has been increasing sharply these five years. That comes out to an average annual energy savings of nearly 2 million tons of coal, reducing 30,000 tons of sulfur dioxide emissions, over 400 million tons of carbon dioxide and waste dust emissions, and reducing a total of 16 million tons of fly ash and other solid waste.
The local government encourages enterprises to re-use the ash, coal gangue, tailings, mud, and so on to produce new wall materials for construction use, especially to develop non-clay new wall materials with good insulation properties, such as sand aerated concrete, ash aerated concrete, and so on. CAON focuses its core business on comprehensive resources utilization of industrial solid wastes in resources and the environmental field. The main product is SF synthetic material, a new type of material in environmental protection and energy saving, which is abbreviated for synthetic material of plastics and coal ash. Under such governmental support, CAON can step forward to distribute its supply, build networks in the region and participate in the potential market in Jiangsu.
"Jiangsu government not only gives financial support in this field, but also strengthens the new wall materials application technology services. It supports new wall materials R&D works and develops production technology and equipment," said Mr. Li Guomin, the President of Chang-On International Inc. "This obviously shows the strong and further determination of local government to promote and support the relative enterprises to realize resources-saving and recycle. Meanwhile the government and enterprises will be jointly organized and the enterprises which promote energy-saving or provide related equipment and materials will be encouraged by government and that could make us benefit in a long-term run."
About Chang-On International Inc.
Chang-On International Inc. (OTC Bulletin Board: CAON) is a leading provider of synthetic material using waste recycled waste materials in China. Strategically located in Harbin City of China, Chang-On International Inc. has an operating subsidiary, Harbin Hongbo Environment Protection Material Ltd ("Harbin Hongbo"), with a registered capital of RMB 3 million (or USD 375,000) and total assets of nearly RMB 10 million (or USD 1.25 million). Founded in 2004, Harbin Hongbo is a joint venture between enterprises from Taiwan, Hong Kong and domestic company.
Harbin Hongbo focuses its core business in comprehensive resources utilization of industrial solid wastes in resources and the environmental field. The main product is SF synthetic material, a new type of material in environmental protection and energy saving, which is abbreviated for synthetic material of plastics and coal ash. Based on this material, the company develops different products, such as boards and profiled bars used in well lids, grates for water drainage pools, guard railings, protective boards for slopes, hard shoulders, inner wall cable pipes/tubes, home renovation and others.
The company has maintained a partnership with Changchun Applied Chemistry Institute of China Academy of Sciences, which mainly specializes in researches into resources and the environment, advanced materials, development of carbon dioxide, corn and rare earth resources, focused development of advanced structure materials, advanced composite materials, and advanced functional materials. Mr. Mo Zhishen, professor of the Institute, acts as the company’s R&D leader.
Harbin Hongbo will focus on the development and use of the SF synthetic material, especially construction molding board, and then expand the scale of production, purchase new equipment, and increase output in future development.
Forward-looking Statements
This report contains ‘forward-looking’ statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese, European and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.
The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.
For more information, please contact:
Mr. Wang Hui
Tel: +86-451-82695010
Email: wanghui-1027@163.com
Web: http://www.chuangon.com
