China Direct Industries Inc.
China Direct Industries, Inc. operates in two core business segments; pure magnesium production and distribution and the distribution of basic materials in China.
See more information about China Direct Industries Inc.
China Direct Industries to ramp up magnesium ingot production
China Direct Industries (NASDAQ: CDII) is planning to restart magnesium ingots at two facilities in China. The company’s Baotou Changxin Magnesium and Chang Magnesium facilities will be fired up, commencing production to begin in July and August.
The China based, US listed company’s Golden Magnesium facility is
nearing its maximum capacity of 12,000 metric tons per annum, and the
company said it is seeing continued strength in demand for its products.
The two additional facilities will life the company’s annual capacity
to 42,000 metric tons.
“Management believes magnesium markets are beginning to firm and
anticipates rising demand in the coming quarters,” China Direct stated.
Headquartered in Deerfield Beach, Florida, China Direct
Industries operates 8 subsidiaries throughout China.
"We remain extremely confident about the long-term prospects for
our magnesium operations as we move through 2010. We have seen a marked
pickup in quoting activity for larger quantity orders in recent months
and are confident that the gradual improving trends in price and demand
we see in the market will continue to gain momentum throughout the
remainder of 2010 and into 2011,” added James Wang, Chairman and CEO of
China Direct Industries.
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