Archive for April, 2011

Tongxin International announces new business initiatives and presents them at the conference

Wednesday, April 27th, 2011

The British Virgin Islands-incorporated company Tongxin International Ltd., China-based manufacturer of engineered vehicle body structures and stamped parts for the commercial automotive industry, announced that on April 29-30 Tongxin’s CEO will present a full overview of BVI company’s achievements, market position, new business initiatives and plans for growth. The presentation will take place at the Aegis Capital Emerging Growth Conference (ACEGC), sponsored by Aegis Capital Corporation, at the Palazzo Hotel in Las Vegas.

Tongxin’s CEO Willian E. Zielke stated in his comments: “I am very pleased to present the recent achievements of Tongxin International and our plans to maintain our vigorous growth to an audience of Aegis Capital Corporation’s top-producing financial advisors, members of the press, and selected institutions. I believe that when the investment community learns more about Tongxin’s history of growth for the past 20 years and our initiatives under way the future, they will recognize the opportunity to participate in our growth over the next few years.”

A day earlier Tongxin International announced that it is committing over $5 million USD to expand its current painting capacity at its central operations, and will introduce stamping capabilities at its plant in Ziyang. The BVI company will invest approximately $3 million to install the painting facility in the third quarter of the year, and about $2 million for the stamping capabilities.

BVI company’s CEO commented by saying “We are excited to move ahead with these important growth initiatives. Not only are we expanding our business to meet customer demand with this investment, we are effectively leveraging our plant infrastructure to reduce costs and more efficiently serve our broadening customer base.”

China Gengsheng Minerals signed agreement to expand fracture proppant capacity

Monday, April 11th, 2011

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 annual fracture proppant capacity by 20% to 90,000 metric tons.

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.

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.