China Shuangji Cement, Ltd. Completes Installation of Equipment at New Zhaoyuan City Cement Plant
Company Expects Testing at New 1,000,000 Metric Ton Facility to be Completed in Approximately Two Weeks
ZHAOYUAN CITY, China, Nov. 2, 2010 /PRNewswire-Asia/ -- China Shuangji Cement, Ltd. (OTC Bulletin Board: CSGJ) ("China Shuangji" or the "Company"), a leading producer of high-quality Portland cement in Shandong and Hainan Provinces in the People's Republic of China (PRC), announced today that it has completed the installation of all the equipment at its new Zhaoyuan City cement plant and has been in full testing mode of all production lines for the past two weeks. The Company expects to complete testing in approximately two more weeks.
Mr. Wenji Song Chairman of China Shuangji stated, "We are and all our clients are very excited now that all the equipment has been installed and we are about halfway through the testing phase. If all goes as we are expecting it to, we should be in full production mode in the very near future. I want to personally thank everyone involved, especially the government of Zhaoyuan, our shareholders, customers and employees, for all their hard work and patience. We are looking forward having the plant operational soon."
China Shuangji's new state-of-the-art cement plant is located about five miles from the Company's former facility and has a 1,000,000 metric ton capacity with direct access to a new highway that leads to many of its customers as well as to nearby ports. China Shuangji currently produces about 1,500,000 MT of high-quality Portland cement from two facilities in Hainan province and one other facility in Shandong province. The Company expects that its new Zhaoyuan cement plant will increase its production capacity by approximately 66% to 2,500,000 MT once fully operational, resulting in a commensurate increase in both sales and profits.
Mr. Song added, "We have already been testing the equipment at our new Zhaoyuan City cement plant for the past two weeks to ensure that everything is integrated and working properly before we officially open the facility. We are excited to reach this stage and expect to complete our testing in approximately two weeks. There is continued strong demand from local contractors for all our new capacity coming online and we look forward to ramping up production as we execute on our strategy to become a major cement player in China and the leading supplier of high-grade bulk cement in both Shandong and Hainan provinces."
About China Shuangji Cement, Ltd.
China Shuangji Cement, Ltd. (OTC Bulletin Board: CSGJ), through its affiliates and controlled entities, is a leading producer of high-quality Portland cement in Shandong and Hainan Provinces. Its processed cement products are primarily purchased by contractors for the construction of buildings, roads, and other infrastructure projects. The Company currently produces approximately 1,500,000 tons of Portland cement annually from two facilities in Hainan and one facility in Shandong and it expects its output will increase by 1,000,000 tons to a total of 2,500,000 tons once the new Zhaoyuan (Shandong Province) plant and upgrades are completed. For more information about China Shuangji, please visit its corporate website at http://www.shuangjicement.com.
Safe Harbor Statement
The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development and market conditions. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We do not intend to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. In addition, please refer to the Risk Factor section of our 2009 Form 10-K filed with the Securities and Exchange Commission on April 15, 2010 and detailed in other reports filed with the Securities and Exchange Commission from time to time.
Investor Relations Contact: |
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Andrew Haag, Managing Partner, USA |
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Hampton Growth, LLC |
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Tel: +1-877-368-3566 |
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E-mail: [email protected] |
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Robert Haag, Managing Director, Asia |
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Hampton Growth, LLC |
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Tel: +86-152-2174-3282 |
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Tel: + 310-310-4842 |
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E-mail: [email protected] |
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Website: www.hamptongrowth.com |
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SOURCE China Shuangji Cement, Ltd.
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