China Gengsheng Minerals, Inc. wins four supply contracts for the Hanbao Steel project

China Gengsheng Minerals, Inc., a leading manufacturer of heat-resistant and energy-saving industrial materials in China, has announced that in the end of January it has won four supply contracts at the amount of approximately $1.9 million, with Hanbao Iron & Steel Co., Ltd., the $1.6-billion joint venture between China’s two top steel makers, – Baosteel Group and Handan Iron & Steel Group.

Gengsheng Minerals, which conducts its business through its fully owned BVI-registered subsidiary Gengsheng International Corporation, will supply castables, bricks and other refractory materials to Hanbao Steel for use in its hot rolled strip units construction project. Also, under the contract Gengsheng will also provide technical services for the installation and inspection of the materials supplied under each of the contract.

The Hanbao Steel project is expected to be completed in the first half of 2008, with production capacity of 4.6 million metric tons of high-end flatsteel products annually.

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