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	<title>BVI Company News &#187; Agreements and Contracts concluded</title>
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	<link>http://bvi-company-news.offshore-journals.com</link>
	<description>Financial results &#038; statistics, interesting projects, latest acquisitions and achievements made by BVI companies worldwide.</description>
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		<title>Cayman subscription TV licence holder to transfer shares to BVI company</title>
		<link>http://bvi-company-news.offshore-journals.com/cayman-subscription-tv-licence-holder-to-transfer-shares-to-bvi-company/732/</link>
		<comments>http://bvi-company-news.offshore-journals.com/cayman-subscription-tv-licence-holder-to-transfer-shares-to-bvi-company/732/#comments</comments>
		<pubDate>Mon, 02 Jan 2012 14:55:51 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI Company Contracts]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>

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		<description><![CDATA[The competition may appear in the Cayman Islands&#8217; subscription television market, due to partial share transfer involving majority ownership in a local company that holds an Information and Communications Technology Authority (ICTA) licence. On December 19, 2011, Infinity Broadband Ltd., that holds a current ICTA licence in the Cayman Islands, has requested the authority’s consent [...]]]></description>
			<content:encoded><![CDATA[<p>The competition may appear in the <a href="http://cayman-islands-financial-services.offshore-journals.com/">Cayman Islands&#8217;</a> subscription television market, due to partial share transfer involving majority ownership in a local company that holds an <a href="http://www.icta.ky/da_about.php">Information and Communications Technology Authority</a> (ICTA) licence. On December 19, 2011, Infinity Broadband Ltd., that holds a current ICTA licence in the Cayman Islands, has requested the authority’s consent to transfer 51 per cent of its shares to the <a title="BVI company formation. Offshore BVI companies from incorporation services firm licensed in British Virgin Islands tax haven" href="http://www.offshorebvi.com/">British Virgin Islands company</a> Camber Holdings Ltd.</p>
<p>According to the records publicly available, the following services are included under the licence currently held by Infinity Broadband: Internet telephony, public service TV broadcasting, subscription TV broadcasting, and Internet. The olicence also authorises Infinity to operate ICT networks.</p>
<p>Licence holder Randy Merren declined to comment on this case, saying the proposed shares transfer was pending before the ICTA board. ICTA officials also declined to comment on the share transfer application.</p>
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		<title>Nam Tai Electronics signs major customer contract</title>
		<link>http://bvi-company-news.offshore-journals.com/bvi-company-signs-major-customer-contract/718/</link>
		<comments>http://bvi-company-news.offshore-journals.com/bvi-company-signs-major-customer-contract/718/#comments</comments>
		<pubDate>Mon, 14 Nov 2011 10:58:52 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI Company Contracts]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>

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		<description><![CDATA[Nam Tai Electronics, the British Virgin Islands-domiciled company working in the spheres of electronics manufacturing and design, has signed a major customer contract for LCD modules. This agreement had already been mentioned in the press release on BVI company&#8217;s financial results for the third quarter of 2011. Under the terms of the newly signed contract, [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://bvi-companies.blogspot.com/2008/09/nam-tai-electronics-inc.html" target="_self">Nam Tai Electronics</a>, the British Virgin Islands-domiciled company working in the spheres of electronics manufacturing and design, has signed a major customer contract for LCD modules. This agreement had already been mentioned in the press release on <a href="http://bvi-company-financials.bviincorporation.com/417/nam-tai-electronics-announced-unaudited-financial-results-for-third-quarter-2011/" target="_self">BVI company&#8217;s financial results for the third quarter of 2011</a>.</p>
<p>Under the terms of the newly signed contract, the company expects to receive firm orders under the contract soon which will support high-volume production starting at the end of December 2011, with shipments beginning in early January.</p>
<p>Discussions with the second major customer to produce LCD module subassemblies for smart phone applications at the company&#8217;s Shenzhen site are in progress. The parties currently plan high-volume production of the modules to begin about June 2011.</p>
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		<title>China Technology enters into strategic development agreement</title>
		<link>http://bvi-company-news.offshore-journals.com/china-technology-enters-into-strategic-development-agreement/677/</link>
		<comments>http://bvi-company-news.offshore-journals.com/china-technology-enters-into-strategic-development-agreement/677/#comments</comments>
		<pubDate>Fri, 01 Jul 2011 14:04:25 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI Company Contracts]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>
		<category><![CDATA[Investors' News]]></category>
		<category><![CDATA[NASDAQ listed BVI Companies]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=677</guid>
		<description><![CDATA[China Technology Development Group Corporation, a British Virgin Islands company specializing on solar energy products and solutions and headquartered in Hong Kong, announced during the Intersolar Europe 2011 in Munich that CTDC has entered into a strategic cooperation framework agreement with two other listed companies from China and Hong Kong – TBEA SunOasis Co., Ltd. [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://bvi-companies.blogspot.com/2008/01/china-technology-development-group.html" target="_self">China Technology Development Group Corporation</a>, a <a title="British Virgin Islands offshore IBC registration" href="http://www.britishvirginislands-ibc-registration.com/">British Virgin Islands company</a> specializing on solar energy products and solutions and headquartered in Hong Kong, announced during the Intersolar Europe 2011 in Munich that <a href="http://finance.yahoo.com/q?s=CTDC" target="_self">CTDC</a> has entered into a strategic cooperation framework agreement with two other listed companies from China and Hong Kong – TBEA SunOasis Co., Ltd. and Goldpoly New Energy Holdings Limited. TBEA SunOasis Co., Ltd. , which is a subsidiary of <a href="http://finance.yahoo.com/q?s=600089.SS" target="_self">Tebian Electric Apparatus Stock Co., Ltd.</a> a professional hi-tech enterprise engaged in the research and manufacture of photovoltaic products and system integration technology. <a href="http://finance.yahoo.com/q?s=0686.HK%2C+&amp;ql=0" target="_self">Goldpoly New Energy Holdings Limited</a> is one of the largest solar silicon cell producers in southern China.</p>
<p>The BVI company and two other companies have formally announced their newly-formed PV investment consortium, aiming to improve efficiency and bring comprehensive solutions to solar park construction in Europe. Their consortium has already attracted the attention of leaders from political and business circles.</p>
<p>Subject to the agreement, the three parties will cooperate in all dimensions within the vertically integrated solar value chain, using their own advantages so to increase market share. Basing on CTDC&#8217;s established sales channels in China, US and Europe, the parties to the investment consortium will be able to effectively speed up module sales, installations on integrated systems, solar plant development.</p>
<p>The consortium also plans to start with a project company to jointly invest in and construct small-size solar plant, among other things it will cooperate over CTDC&#8217;s initiatives. By words of Mr. Jianxin Zhang, CEO of TBEA SunOasis, the PV investment consortium has strong financial support from China Development Bank and China Billion credit facilities.</p>
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		<title>BVI-registered company wins Business Intelligence project for national bank in China</title>
		<link>http://bvi-company-news.offshore-journals.com/bvi-registered-company-wins-business-intelligence-project-for-national-bank-in-china/672/</link>
		<comments>http://bvi-company-news.offshore-journals.com/bvi-registered-company-wins-business-intelligence-project-for-national-bank-in-china/672/#comments</comments>
		<pubDate>Mon, 20 Jun 2011 08:20:05 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI Company Contracts]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>
		<category><![CDATA[NASDAQ listed BVI Companies]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=672</guid>
		<description><![CDATA[Yucheng Technologies Limited, British Virgin Islands-registered company headquartered in China and providing IT and outsourced services to the Chinese banking industry, has won the right to provide Business Intelligence solutions for one of the major national policy banks. The company will build upon its existing portfolio of BI products to deploy an internal reporting system, [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://bvi-companies.blogspot.com/2008/01/yucheng-technologies-limited.html" target="_self">Yucheng Technologies Limited</a>, British Virgin Islands-registered company headquartered in China and providing IT and outsourced services to the Chinese banking industry, has won the right to provide Business Intelligence solutions for one of the major national policy banks. The company will build upon its existing portfolio of BI products to deploy an internal reporting system, which will allow business divisions to access its operation reports well-structured and in an efficient manner.</p>
<p>IT system upgrade and the reporting system deployment of the bank are just one of many components in its overall BI solutions having the purpose to transform itself to become more commercial and compete directly with the big four banks and other major joint stock banks in China.</p>
<p>CEO of the <a title="BVI company: Offshore BVI companies and British Virgin Islands company (IBC) description" href="http://www.offshorebvi.com/bvi-offshore-companies.php">BVI company</a> Mr. Weidong Hong said in his comments: &#8220;We are pleased that we have been able to deepen our relationship with this newly acquired customer from a year ago. We started the deployment of our proprietary CMIS system for the customer last year and have been in discussion on a number of other projects.&#8221; Mr. Hong continued that this win is “a demonstration of customer&#8217;s recognition of industry&#8217;s leading comprehensive portfolio of solutions, including the fast growing BI solutions.”</p>
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		<title>BVI company signs Licensing Agreement</title>
		<link>http://bvi-company-news.offshore-journals.com/bvi-company-signs-licensing-agreement/665/</link>
		<comments>http://bvi-company-news.offshore-journals.com/bvi-company-signs-licensing-agreement/665/#comments</comments>
		<pubDate>Tue, 17 May 2011 12:18:09 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[Investors' News]]></category>
		<category><![CDATA[NASDAQ listed BVI Companies]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=665</guid>
		<description><![CDATA[The British Virgin Islands-registered company Origin Agritech announced a licensing agreement with a multinational partner, with the purpose to develop high-yielding corn varieties incorporating the Origin Agritech glyphosate- resistant and Bt- traits. These traits proved to be effective in both lab and field environments, their commercialization is novel to the Chinese market, and they are [...]]]></description>
			<content:encoded><![CDATA[<p>The <a title="BVI company: Offshore BVI companies and British Virgin Islands company (IBC) description" href="http://www.offshorebvi.com/bvi-offshore-companies.php">British Virgin Islands-registered</a> company <a href="http://bvi-companies.blogspot.com/2008/01/origin-agritech-limited.html" target="_self">Origin Agritech</a> announced a licensing agreement with a multinational partner, with the purpose to develop high-yielding corn varieties incorporating the Origin Agritech glyphosate- resistant and Bt- traits.</p>
<p>These traits proved to be effective in both lab and field environments, their commercialization is novel to the Chinese market, and they are protected by patents granted separately by China and USA. The <a title="British Virgin Islands IBC incorporation" href="http://www.bviincorporation.com/">BVI company</a> will license the traits to its partner and take the lead in the development and testing activities.</p>
<p><a href="http://bvi-company-news.offshore-journals.com/origin-agritech-limited-received-national-agricultural-industrialisation-leading-enterprise-title/561/" target="_self">Origin Agritech</a> is the owner of comprehensive worldwide rights to glyphosate- resistant and BT- genes developed by the Chinese Academy of Agricultural Sciences (CAAS).</p>
<p>According to the Acting Chief Financial Officer of the BVI corporation, this agreement is a milestone for Origin Agritech to validate its GM technology. He said that, after the successful integration of these traits, the company would be seeking to finalize subsequent collaboration agreements to sell these seeds into Chinese and potentially in the other markets.</p>
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		<title>A-Power&#8217;s subsidiary signs LOI with China Machinery Engineering Corporation</title>
		<link>http://bvi-company-news.offshore-journals.com/a-powers-subsidiary-signs-loi-with-china-machinery-engineering-corporation/662/</link>
		<comments>http://bvi-company-news.offshore-journals.com/a-powers-subsidiary-signs-loi-with-china-machinery-engineering-corporation/662/#comments</comments>
		<pubDate>Mon, 09 May 2011 13:59:21 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[Letter of Intent]]></category>
		<category><![CDATA[NASDAQ listed BVI Companies]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=662</guid>
		<description><![CDATA[British Virgin Islands-registered company A-Power Energy Generation Systems, Ltd. announced that Shenyang Power Group Company Ltd., an industrial construction company in which A-Power owns a 19.5% interest, signed a letter of intent with China Machinery Engineering Corporation, a major international engineering contractor. The agreement that was signed on April 15 involved the development of a [...]]]></description>
			<content:encoded><![CDATA[<p>British Virgin Islands-registered company <a href="http://finance.yahoo.com/q?s=APWR">A-Power Energy Generation Systems, Ltd.</a> announced that Shenyang Power Group Company Ltd., an industrial construction company in which A-Power owns a 19.5% interest, signed a letter of intent with China Machinery Engineering Corporation, a major international engineering contractor. The agreement that was signed on April 15 involved the development of a proposed 615 megawatt wind power generation project in Texas.</p>
<p>The purpose of this planned arrangement between the parties is to assist Shenyang Power Group in securing from Chinese sources approximately 14% of the debt financing that is anticipated to be required to develop the project, as well as to find suitable engineering, procurement, and construction contractor for Texas Wind Farm. </p>
<p>According to the Letter of Intent, Shenyang Power Group is to appoint China Machinery Engineering Corporation as EPC contractor for the Texas Wind Farm project and CMEC is to assist SPG in obtaining approximately US$260 million in debt financing from banks and other financing agencies in China for Spinning Star Energy LLC, founded to own, develop, and operate the Texas Wind Farm. CMEC would be expected to procure equipment from suppliers designated by SPG. </p>
<p>Shenyang Power Group was incorporated in May 2009 in China as an industrial construction company specializing in electricity generation projects and manufacturing of power equipment. </p>
<p><a href="http://www.offshorebvi.com/" title="BVI company formation. Offshore BVI companies from incorporation services firm licensed in British Virgin Islands tax haven">BVI-registered</a> A-Power initially had contributed 62% of SPG&#8217;s registered capital of 1.0 billion, with the remaining capital contributed by other non-related entities that are active in the electricity generation industry. In October 2010, <a href="http://bvi-company-news.offshore-journals.com/a-powers-subsidiary-entered-into-strategic-partnership-with-baoding-huide/568/">A-Power</a> sold 42.5% of its ownership in Shenyang Power Group, reducing its ownership in the subsidiary to 19.5%. Spinning Star is the joint venture enterprise owned by United States Renewable Energy Group Wind Partners I, LLC.</p>
<p>China Machinery Engineering Corporation was established in 1978 as the first large national corporation integrating foreign trade with industry, it is a large global conglomerate with engineering contracting as its core business.</p>
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		<title>China Gengsheng Minerals signed agreement to expand fracture proppant capacity</title>
		<link>http://bvi-company-news.offshore-journals.com/china-gengsheng-minerals-signed-agreement-to-expand-fracture-proppant-capacity/652/</link>
		<comments>http://bvi-company-news.offshore-journals.com/china-gengsheng-minerals-signed-agreement-to-expand-fracture-proppant-capacity/652/#comments</comments>
		<pubDate>Mon, 11 Apr 2011 14:26:04 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=652</guid>
		<description><![CDATA[China GengSheng Minerals, Inc., the China-based manufacturer of high-tech industrial materials, conducting its business through British Virgin Islands-registered GengSheng International Corporation, signed a definitive agreement with a local affiliate in Henan Province to manufacture 30,000 metric tons of its fracture proppants through the end of 2011. With this addition, China Gengsheng has increased its total [...]]]></description>
			<content:encoded><![CDATA[<p>China GengSheng Minerals, Inc., the China-based manufacturer of high-tech industrial materials, conducting its business through <a title="BVI company: Offshore BVI companies and British Virgin Islands company (IBC) description" href="http://www.offshorebvi.com/bvi-offshore-companies.php">British Virgin Islands-registered</a> <a href="http://bvi-companies.blogspot.com/2008/02/gengsheng-international-corporation.html">GengSheng International Corporation</a>, signed a definitive agreement with a local affiliate in Henan Province to manufacture 30,000 metric tons of its fracture proppants through the end of 2011. With this addition, China Gengsheng has increased its total annual fracture proppant capacity by 20% to 90,000 metric tons.</p>
<p>In conjunction with this new agreement, the company has terminated its operating lease, entered in October 2010, and ceased production of fracture proppant products at its leased manufacturing facility in Henan Province. The owner of the facility has released Gengsheng from the lease agreement without penalties and liabilities.</p>
<p>By words of Mr. Shunqing Zhang, Chairman and CEO of China GengSheng Minerals, “the worldwide increase in drilling activity continues to drive demand for the fracture proppants from both domestic and international customers.” He said that in 2010 fracture proppant orders totaled US$14.3 million, and the company has already received 2011 orders totaling approximately US$15.9 million.</p>
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		<title>Consulting company to perform analysis of properties of China Natural Resources</title>
		<link>http://bvi-company-news.offshore-journals.com/consulting-company-to-perform-analysis-of-properties-of-china-natural-resources/650/</link>
		<comments>http://bvi-company-news.offshore-journals.com/consulting-company-to-perform-analysis-of-properties-of-china-natural-resources/650/#comments</comments>
		<pubDate>Mon, 28 Mar 2011 11:01:21 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>
		<category><![CDATA[Investors' News]]></category>
		<category><![CDATA[NASDAQ listed BVI Companies]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=650</guid>
		<description><![CDATA[China Natural Resources Inc., natural resources development company incorporated in the British Virgin Islands and operating in China, made an announcement that it had engaged the company Behre Dolbear Asia, Inc., a subsidiary of Behre Dolbear Group Inc., to perform independent technical analysis of company&#8217;s seven anthracite coal mine properties in Guizhou Province in PRC. [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://bvi-companies.blogspot.com/2008/01/china-natural-resources-inc.html">China Natural Resources Inc.</a>, natural resources development company incorporated in the <a href="http://www.britishvirginislands-ibc-registration.com/" title="British Virgin Islands offshore IBC registration">British Virgin Islands</a> and operating in China, made an announcement that it had engaged the company Behre Dolbear Asia, Inc., a subsidiary of Behre Dolbear Group Inc., to perform independent technical analysis of company&#8217;s seven anthracite coal mine properties in Guizhou Province in PRC. It is anticipated that the independent technical analyses will be completed in approximately two months. </p>
<p>Behre Dolbear Group Inc. is an advisory and consulting group working in international mineral industry, having offices in 11 cities internationally including in China, Mongolia, the United States, Canada, Australia, Mexico and Chile. The company specializes in performing mineral industry studies for mining companies, financial institutions and natural resource firms.  </p>
<p>The Chairman and CEO of the BVI company, Mr. Feilie Li, commented on the engagement of Behre Dolbear having said that &#8220;The independent technical reports to be prepared by Behre Dolbear are intended to enable the Company to provide useful, transparent and internationally comparable coal reserve information to the shareholders and the investment community. We are positive about the prospects for the coal mining industry in the PRC and we will continue to pursue growth through acquisition and consolidation of small to medium sized coal mines.&#8221;</p>
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		<title>BVI-registered EuroTex Finanz entered into agreement with North West Oil &amp; Gas Trading Company</title>
		<link>http://bvi-company-news.offshore-journals.com/bvi-registered-eurotex-finanz-entered-into-agreement-with-north-west-oil-gas-trading-company/645/</link>
		<comments>http://bvi-company-news.offshore-journals.com/bvi-registered-eurotex-finanz-entered-into-agreement-with-north-west-oil-gas-trading-company/645/#comments</comments>
		<pubDate>Wed, 02 Mar 2011 12:35:19 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI Company Contracts]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>
		<category><![CDATA[Share Exchange agreements]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=645</guid>
		<description><![CDATA[EuroTex Finanz Inc., a British Virgin Islands-based company engaged in international financial services business, made an announcement that on February 19, 2011 it has entered into a share exchange agreement with North West Oil &#038; Gas Trading Company, Inc. NWOil is an emerging entity in the US-based oil and gas industry, its main businesses are [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://bvi-companies.blogspot.com/2011/02/eurotex-finanz-inc.html">EuroTex Finanz Inc.</a>, a British Virgin Islands-based company engaged in international financial services business, made an announcement that on February 19, 2011 it has entered into a share exchange agreement with <a href="http://finance.yahoo.com/q?s=ANN.DE%2C+&#038;ql=1">North West Oil &#038; Gas Trading Company, Inc.</a> NWOil is an emerging entity in the US-based oil and gas industry, its main businesses are reactivation of already existing oil and gas fields, expansion with modern production facilities and infrastructure. On February 21, 2011 the agreement was approved by the Board of Directors of both EuroTex Finanz Inc. and NWOil. </p>
<p>According to the agreement between North West Oil &#038; Gas Trading Company and EuroTex Finanz Inc., there will be an exchange of shares between the parties. The exchange rate will be 300,000 shares of NWOil stock in return for 600,000 shares of Eurotex Finanz Inc. BVI.</p>
<p>NWOil also passed a resolution to pay a dividend in the form of <a href="http://finance.yahoo.com/q?s=KFE.F">EuroTex Finanz, Inc.</a> shares to the individual NWOil registered stockholders, increasing EuroTex&#8217;s shareholder base. To qualify for this dividend, a stockholder must own a minimum of 100 shares of NWOil stock. </p>
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		<title>China Gengsheng Minerals received US$10.5 million fracture proppant sales contract</title>
		<link>http://bvi-company-news.offshore-journals.com/china-gengsheng-minerals-received-us10-5-million-fracture-proppant-sales-contract/642/</link>
		<comments>http://bvi-company-news.offshore-journals.com/china-gengsheng-minerals-received-us10-5-million-fracture-proppant-sales-contract/642/#comments</comments>
		<pubDate>Mon, 21 Feb 2011 10:22:56 +0000</pubDate>
		<dc:creator>&#60;ADMINNICENAME&#62;</dc:creator>
				<category><![CDATA[Agreements and Contracts concluded]]></category>
		<category><![CDATA[BVI IBC Business News]]></category>

		<guid isPermaLink="false">http://bvi-company-news.offshore-journals.com/?p=642</guid>
		<description><![CDATA[China GengSheng Minerals, Inc., China-based company manufacturing high-tech industrial materials and making its business through the British Virgin Islands-registered subsidiary Gensheng International Corporation, made an announcement that it has been awarded US$10.5 million follow-on contract for its fracture proppants from a China-based distributor specializing in sales to overseas oil and gas companies. Shipments to this [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://finance.yahoo.com/q/h?s=chgs">China GengSheng Minerals, Inc.</a>, China-based company manufacturing high-tech industrial materials and making its business through the <a href="http://www.offshorebvi.com/" title="BVI company formation. Offshore BVI companies from incorporation services firm licensed in British Virgin Islands tax haven">British Virgin Islands-registered</a> subsidiary <a href="http://bvi-companies.blogspot.com/2008/02/gengsheng-international-corporation.html">Gensheng International Corporation</a>, made an announcement that it has been awarded US$10.5 million follow-on contract for its fracture proppants from a China-based distributor specializing in sales to overseas oil and gas companies.</p>
<p>Shipments to this customer will be started already this month. China Gengsheng Minerals expects to supply approximately 27,000 tons of proppant products over a six-month period. </p>
<p>The Chinese company commercially launched its fracture proppant products in the second quarter of 2007. The company reported full-year 2009 revenue from this segment in the amount of US$8 million.<br />
In the third quarter of 2010, fracture proppant sales achieved a record of US$5 million. To meet the growing demand for its fracture proppant products, Gengsheng signed a <a href="http://bvi-company-news.offshore-journals.com/china-gengsheng-signed-agreement-for-fracture-proppant-manufacturing-facility/597/">3-year operating facility lease</a> in the fourth quarter of 2010, which allowed to significantly increase company&#8217;s fracture proppant manufacturing capacity.</p>
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