Oct 7 2010
China Shuangji Cement, Ltd. (OTC Bulletin Board: CSGJ) ("China Shuangji" or the "Company"), a leading producer of high-quality Portland cement in Shandong and Hainan Provinces in the People's Republic of China (PRC), announced today that it will soon begin rapidly growing sales and profits as its new Zhaoyuan City cement plant ramps up production.
As previously announced, China Shuangji expects that this new state-of-the-art cement plant will be operational by the end of the first week of October. This new cement plant in Zhaoyuan City, which is located approximately five miles from the Company's former facility, has a 1,000,000 metric ton capacity with direct access to a new highway that leads to many of China Shuangji's customers as well as to nearby ports. The Company currently produces about 1,500,000 MT of high-quality Portland cement from two facilities in Hainan province and one other facility in Shandong province. China Shuangji expects that its new Zhaoyuan cement plant will increase its production capacity by approximately 66% to 2,500,000 MT once it is fully operational, resulting in a commensurate increase in both sales and profits.
"Now that all the equipment is installed and operational, we are working to quickly ramp up cement production at our new Zhaoyuan City facility and bring it to full capacity by the end of the year," said Mr. Wenji Song, Chairman and President of China Shuangji Cement, Ltd. "We continue to see growth in the building sector in China, especially where we operate in Shandong and Hainan provinces. Increasing demand is being driven by construction of new buildings, bridges and infrastructure, fueled by government incentives and also from organic growth throughout the areas in which we operate." Added Mr. Song, "We are very excited to be shifting into this new and exciting rapid growth mode and are confident that there will be more than enough demand to continue to absorb all of our new production. I want to thank all of our stakeholders for their patience and support including the government of Zhaoyuan City, our customers, employees, and our shareholders."
Source: http://www.shuangjicement.com/