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China Gengsheng Minerals, Inc. Wins $2.9 Million Refractory Full-Service Contract in Shandong Province

Post Time:Apr 30,2009Classify:Company NewsView:481

China Gengsheng Minerals, Inc.("Gengsheng" or "the Company"), a materials technology company in China with products capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has signed a full-service refractory supply contract with Zibo Zhang Steel Co., Ltd. ("Zhang Steel") in Shandong Province. The value of the contract is estimated to be approximately $2.9 million per year.

The Company provides "full services" to China's steel mills in the form of refractory product installation, testing, maintenance, repair and replacement. Full-service customers contributed approximately 51% of the Company's total sales in 2008, compared with 38.3% in 2007.

"I am pleased to add Zhang Steel as our new full-service customer," said Mr. Shunqing Zhang, Chairman and CEO. "China's crude steel output rose 12% to 45 million tons in March on a sequential basis. This could indicate the economic stimulus package is starting to show effects, as reflected in highway and railroad constructions. As a mid-sized regional player, Zhang Steel stands to benefit from local infrastructure build-out and improvements. Our goal this year is to sign more full-service customers like Zhang Steel."

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

Source: China Gengsheng Minerals, Inc. Author: shangyi

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