GONGYI, China, Dec. 7 /PRNewswire-Asia/ -- China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS) ("Gengsheng" or "the Company"), a high-tech industrial materials manufacturing company in China, with products capable of withstanding high temperatures, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has received encouraging feedback from potential customers in the fine grinding and polishing sector.
Two series of high-end fine precision abrasives, sized GC3000 and GC4000, were tested and approved by seven (7) potential polishing customers, who have applied our products in the process of grinding and polishing surface of high-precision instruments and items. Currently, the market price of GC3000 abrasives is approx. $4,000 per metric ton and the price for GC4000 abrasives is approx. $6,300 per metric ton.
"We are excited to see our fine precision abrasive products under the Gengsheng(TM) brand enjoy such wide acceptance in the fine grinding and polishing market," said Mr. Shunqing Zhang, Chairman and CEO of the Company. "Our patented production process makes us hold the technological leadership in the domestic market, and our precision abrasive products have great potential to replace the traditional abrasive substances, such as, white fused alumina and diamond powder, considering the competitive advantage in production cost and effectiveness. The fine precision abrasives segment will become the next driver of business growth as large purchasing orders and quantity production come soon."
About China Gengsheng Minerals, Inc.
China Gengsheng Minerals, Inc. ("Gengsheng") develops, manufactures and markets a broad range of high-tech industrial material products, including monolithic refractories, industrial ceramics and fracture proppants. A market leader offering customized solutions, Gengsheng sells its products primarily to the iron and steel industries as heat-resistant components for steel-making furnaces, industrial kilns and other high-temperature vessels to guarantee and improve the productivity of those expensive pieces of equipment while reducing their consumption of energy. Founded in 1986 and based in China's Henan province, Gengsheng currently has over 200 customers in the iron, steel, oil, glass, cement, aluminum and chemical businesses located in China and in 11 other countries. Gengsheng conducts its business through Gengsheng International Corporation, a British Virgin Islands company, and its Chinese subsidiaries, which are Henan Gengsheng Refractories Co., Ltd., Zhengzhou Duesail Fracture Proppant Co., Ltd. and Henan Gengsheng High Temperature Materials Co., Ltd.
For more information about the Company, please visit http://www.gengsheng.com .
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of China Gengsheng Minerals, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the Company's ability to meet its obligations under its various contracts; the anticipated value, profit margin, timely payments and other economic benefits the Company expects to receive under such contracts; the Company's ability to maintain its customer relations; the production capabilities and needs of our customers; the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
In China:
China Gengsheng Minerals, Inc.
Ms. Wendy Sun
Finance Manager and Investor Relations
Tel: +86-159-3870-8666
Email: wendyshure@gmail.com
Mr. Shuai Zhang
Investor Relations
Tel: +86-135-2551-0415
Email: shuai298@126.com
In the U.S.:
RedChip Companies, Inc.
Mr. Dave Gentry
President
Tel: +1-407-491-4498
Email: info@redchip.com
