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The new castable product, called Si-Enhanced Anti-Creep High-Aluminum Castable (SEAC HAC), is created by adding silicon and other minerals to the traditional raw material such as bauxite so that the finished product has the characteristic of much lower probability of creep, which is a gradual change of shape under stress during high-temperature industrial processes, for heating furnaces at steel mills and other industrial plants.
On September 29, 2009, the Science & Technology Bureau of Zhengzhou City, Henan Province reviewed the testing results of Gengsheng's SEAC HAC and more than 10 industrial material experts from regional universities such as Wuhan Science & Technology University, Henan Science & Technology University, Zhengzhou University, and Henan Space Institute, as well as engineers from Shanghai Baosteel at the product evaluation event acknowledged the potential applications of this new product. Gengsheng has filed a patent for the SEAC HAC, which has also been confirmed to meet the Q/HGS 015-2009 national standards as published by China's National Refractory Product Quality Inspection Center.
"Gengsheng's pipeline for new products has never been stronger, thanks to our steady effort to ratchet up our R&D," said Mr. Shunqing Zhang, Chairman and CEO of Gengsheng. "After the introduction of our light castables as an energy-saving back lining in the industrial furnace, we are now announcing this more significant innovation, which has been accepted for trial use by four major steel companies in China. Our SEAC HAC can extend the lifespan of industrial furnaces by up to 30% and it has much wider application and greater market potential than all of our previous innovations, as high-aluminum castables currently make up almost half of China's $5 billion monolithic refractory market. Our strategy is to increase our marketing effort for this new product at industry shows, through positive feedback from our existing customers and with the endorsement of research institutes."
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 industry 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 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 projected output for the term of the supply contract; 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:
Mr. Shuai Zhang
Investor Relations
China Gengsheng Minerals, Inc.
Email: shuai298@126.com
In the U.S.:
Mr. Valentine Ding
Investor Relations
Grayling
Tel: +1-646-284-9412
Email: valentine.ding@us.grayling.com
SOURCE China Gengsheng Minerals, Inc.
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