Chang-On International
Inc. Looks to Expand Existing Production
HARBIN, China, Aug. 5, 2008 (PRIME NEWSWIRE) --
Chang-On International Inc. (OTCBB:CAON), a company
engaged in green architectural products made of
its innovative SF brand of synthetic resin, is pleased
to announce that it plans to increase production
in order to meet growing demand for its concrete
formwork.
The Company's current production facility has an
operating capacity of approximately 60,000 units
of architectural formwork per year, and has already
received orders for more than 2,000 units with new
orders coming in.
According to Li Guomin, President of Chang-On, "We
began the R&D process for creating our SF brand
of synthetic resin using recycled plastic and coal
waste in 2004. After years of extensive testing
and research, Chang-On resolved key technical difficulties
and constructed its first architectural framework
production line in April of this year. We are constantly
looking for ways to further refine our production
techniques, and are now able to launch a new formwork
production line for as little as RMB2 million in
fixed assets and RMB1 million of working capital.
Our strategy is to selectively locate our new production
facilities in regions of high demand for concrete
construction formwork."
About Chang-On International, Inc.:
Chang-On International Inc. (OTCBB:CAON) is a Chinese
manufacturer of green architectural products made
of its innovative SF brand of synthetic resin. Using
patented technologies, the Company is engaged in
the manufacturing and sale of green architectural
products in the multi-billion dollar building materials
market in the People's Republic of China. Through
its sole operating subsidiary Harbin Hongbo Environment
Protection Material Ltd., the Company utilizes China's
abundant supply of recycled plastic and coal waste
as its main raw materials. SF resin can be molded
into a virtually limitless range of end-use products,
including pallets, pipes, tubes and wallboard, and
is a superior substitute for PVC, steel, wood and
cement. The Chinese government continues to make
energy efficiency and green construction top priorities,
and Chang-On is well-positioned to become a major
player in this growing sector. For more information,
please visit the company's website at: www.changon.com.
Safe Harbor Statement:
Except for historical information contained herein,
the matters set forth above may be forward-looking
statements that involve certain risks and uncertainties
that could cause actual results to differ from those
in the forward-looking statements. Words such as
"anticipate," "believe," "estimate,"
"expect," "intend" and similar
expressions, as they relate to the Company or its
management, identify forward-looking statements.
Such forward-looking statements are based on the
current beliefs of management, as well as assumptions
made by and information currently available to management.
Actual results could differ materially from those
contemplated by the forward-looking statements as
a result of certain factors such as the level of
business and consumer spending, the amount of sales
of the Company's products, the competitive environment
within the industry, the ability of the Company
to continue to expand its operations, the level
of costs incurred in connection with the Company's
expansion efforts, economic conditions in the industry
and the financial strength of the Company's customers
and suppliers. The Company does not undertake any
obligation to update such forward-looking statements.
Investors are also directed to consider all other
risks and uncertainties.