China Gengsheng Minerals, Inc. Announces Approval for NYSE Amex Listing
GONGYI, China, March 3 /PRNewswire-Asia-FirstCall/ -- China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS; NYSE Amex: CHGS) ("Gengsheng" or the "Company"), a high-tech industrial materials products 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 the Company has received approval to list its common stock on NYSE Amex and will begin trading on March 4, 2010. The Company will trade on NYSE Amex under the ticker symbol "CHGS."
"We are excited to be moving onto NYSE Amex as this opens a new chapter in our 25-year corporate history," Mr. Shunqing Zhang, Chairman and CEO of China Gengsheng Minerals, commented. "As a leading industrial materials company, China Gengsheng Minerals has successfully developed new products to help oil and steel producers improve efficiency and conserve resources. The transition to NYSE Amex enables China Gengsheng to gain more visibility among institutional investors, and to strengthen our investor base. As we continue to progress in our corporate objectives, we will further enhance our corporate governance structure, strengthen internal control, and meanwhile focus on new products development and sales expansion to achieve continued growth and maximize value for our shareholders."
About China Gengsheng Minerals
China Gengsheng Minerals, Inc. ( http://www.gengsheng.com ) develops, manufactures and markets a broad range of high-tech industrial material products, including monolithic refractories, industrial ceramics, fracture proppants, and fine-precision abrasives. 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 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., Henan Gengsheng High Temperature Materials Co., Ltd and Henan Gengsheng Powder Materials Co., Ltd.
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 full-service contracts; the 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 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: [email protected]
Mr. Shuai Zhang
Investor Relations
Tel: +86-135-2551-0415
Email: [email protected]
In the U.S.:
RedChip Companies, Inc.
Mr. Dave Gentry/Jon Cunningham
President
Tel: +1-407-644-4256 x104
Email: [email protected]
SOURCE China Gengsheng Minerals, Inc.
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