HONG KONG, July 21, 2011 /PRNewswire-Asia/ -- China Lumena New Materials Corp. ("Lumena New Materials" or the "Company", stock code: 67), the world's largest PPS resin producer* and one of the world's leading thenardite producers**, is pleased to announce that Mr. Suo Lang Duo Ji, the major shareholder of the Company, has purchased 3,000,000 shares on 19 July 2011 at an average price of HK$2.49 per share.
Mr. Zhang Zhigang, Chairman and Executive Director of the Company, said "The increase in stakes by our major shareholder is a vote of confidence in the value and prospect of our Company. As the leading new materials producer in the world, we will continue to focus on and maintain the rapid growth of our business. We will seize rising market opportunities at the back of the Chinese Government's 12th Five-Year Plan, in order to enhance profitability and to maximize returns to shareholders."
About China Lumena New Materials Corp.
As a leading new materials and chemical enterprise in China, Lumena New Materials is the world's largest PPS resin producer* and one of the world's leading thenardite producers**. PPS is a special engineering thermoplastic widely used in electrical and electronic, automotive, rail transportation, environmental protection and emissions reduction, aeronautics and astronautics, and coatings applications, etc. It has been listed as one of the new materials to be developed and supported by the China's government in its 12th Five-Year Plan. The Company manufactures, develops and sells PPS resin, PPS compounds and PPS fibre.
Equipped with the world's largest single line production facility, the Company produces numbers of high quality thenardite products such as powder thenardite, specialty thenardite and medical thenardite. It operates four captive underground glauberite mines and is the only approved and certified producer of medical thernadite in China.
| *In terms of production capacity as of December 31, 2009, according to SRI Consulting, a research service firm |
| ** In terms of production capacity as of 31 December 2010, according to Behre Dolbear & Company (USA) Inc., an independent market research consultant |
For further information, please contact:
Porda Havas International Finance Communications Group
| Ms. Sharon Lau | +852-3150-6709 | sharon.lau@pordahavas.com |
