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Forbes Magazine's Asia's 'Best under a Billion' list includes 200 leading Asia-Pacific companies with strong track records of profitability and growth, modest indebtedness, and positive future prospects (for details of the selection process, visit http://www.forbes.com/BUB ). ShengdaTech's selection came during a year of what the business magazine called "unprecedented dislocations in the global economy." The Company is one of 136 new entrants who seized opportunities arising from the economic uncertainty and one of only 78 companies in China and Hong Kong to make the prestigious list.
"It is great honor to have Forbes recognize ShengdaTech's success by placing the Company on this esteemed list. This acknowledges our commitment to maintaining our position as the largest NPCC supplier in China," said Mr. Xiangzhi Chen, president and CEO of ShengdaTech. "Despite the challenging economic environment, the Company has exhibited robust revenue growth and maintained a healthy gross margin in our NPCC business with the joint efforts of management and staff. We expect to continue to implement our aggressive NPCC capacity expansion strategy to further advance our revenue growth and profitability."
About ShengdaTech, Inc.
ShengdaTech is engaged in the business of manufacturing, marketing and selling nano-precipitated calcium carbonate ("NPCC") products. The Company converts limestone into NPCC using its proprietary and patent-protected technology. ShengdaTech is the only company possessing proprietary NPCC technology in China. In addition to its broad customer base in China, the Company currently exports to Singapore, Thailand, South Korea, Malaysia, Vietnam, India and Israel. For more information, contact CCG Investor Relations directly or go to ShengdaTech's website at http://www.shengdatechinc.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the significance of the Company being named to Forbes Magazine's list of "Asia's 200 Best Under a Billion" for the year 2009; and predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the tire industry, changes in composition of tires, the Company's ability to meet the planned expansion schedule for its NPCC capacity, the Company's ability to identify acquisition targets, changes to government regulations, risk associated with operation of the Company's new manufacturing facility, ability to attract new customers, ability to increase its product's applications, ability of its customers to sell products, cost of raw material, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. You are urged to consider these factors care in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
For more information, please contact:
Andrew Chen, Chief Financial Officer
ShengdaTech, Inc.
Tel: +86-21-5835-8738
Email: andrew.chen@shengdatech.com
Web: http://www.shengdatechinc.com
Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE ShengdaTech, Inc.
http://www.forbes.com/BUB
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