Gengsheng Minerals
China Gengsheng Minerals Inc (OTC:CHGS), a manufacturer of industrial materials capable of withstanding high temperatures, and energy saving materials,
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Gengsheng starts production of fine precision abrasives
Materials technology company China Gengsheng Minerals Inc said it has started trial production of its new product, fine precision abrasives, at its newly completed facilities in Gongyi City, Henan Province.
The abrasives are fine grains of silicon carbide, white fused alumina, and blend materials used in the cutting and polishing of optical equipment, semiconductors, and fine metal surfaces to improve finish quality.
Currently Gengsheng uses its patented technology to focus on producing lapping abrasives and polishing compounds for the processing of silicon wafers. The facilities, which were completed in April, have an annual production capacity of 20,000 tons.
Chairman and CEO Shunqing Zhang commented: "With crude oil prices climbing back from depressed levels and the proverbial green shoots occurring in the global economy, especially in China, we are confident that this new product, along with our existing fracture proppant products, which service the oil and gas industry, will benefit from the increased activity in energy production."
Gengsheng in 2008 signed its first sales contract for the abrasives with a Taiwan-based customer. The term of the contract is five years, with 300-500 tons of the product delivered each month. The value of the contract was not disclosed.
Other Gengsheng Minerals news
- China GengSheng Minerals' shares drop as Q4 results disappoint
2011-04-01 - Gengsheng wins RMB2.3m subsidy from Henan government to support new solar line
2009-09-15 - Gengsheng sales up, but profits down on higher material costs
2009-04-02
