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ShengdaTech, Inc. Relocates to New World Headquarters in Shanghai

2009-08-03 21:15 1109

SHANGHAI, Aug. 3 /PRNewswire-Asia/ -- ShengdaTech, Inc. (“ShengdaTech” or “The Company”) (Nasdaq: SDTH), a leading manufacturer of nano precipitated calcium carbonate (“NPCC”), today announced that the Company completed relocating its world headquarters to Shanghai, China.

ShengdaTech’s new headquarters is located at:

Unit 2003, East Tower

Zhong Rong Heng Rui International Plaza

620 Zhang Yang Road, Pudong District

Shanghai 200122, PRC

Phone: +86 21-58359979

The Company’s President and CEO, Mr. Xiangzhi Chen, Chief Financial Officer, Mr. Andrew Chen, Chief Operating officer, Ms. Anhui Guo, and other executives are based at the new Shanghai office. ShengdaTech’s research and development center is also based in Shanghai. The Company will continue its NPCC manufacturing operation in Tai’an City and will utilize its old headquarters office at this location for various administrative functions.

Shanghai is the largest city in China, and one of the largest metropolitan areas in the world, with a population of over 20 million. As one of China’s major commerce centers, Shanghai provides easier access to business partners, customers, and prospects, while allowing the Company to attract a higher caliber of management and administrative professionals.

“Shanghai is truly a global city and is considered the hub of Chinese business. It is home to China’s largest stock market and is the regional base of many multinational corporations. Relocating our world headquarters to Shanghai will further enhance our corporate image, improve communication and coordination with current and potential customers, and allow us to attract and retain talented employees” said Mr. Xiangzhi Chen. "Building on our rapid growth of the past few years, our new location advances ShengdaTech’s position as a true global company and provides us with opportunities to expand our market reach, both domestically and internationally."

About ShengdaTech, Inc.

ShengdaTech is engaged in the business of manufacturing, marketing and selling nano precipitated calcium carbonate ("NPCC") products. The Company converts limestone into NPCC using its proprietary technology co-developed with Tsinghua University. ShengdaTech is the only company possessing proprietary NPCC technology in China. In addition to its broad customer base in China, the Company currently exports to Singapore, Thailand, South Korea, Malaysia, Vietnam, India and Israel. For more information, contact CCG Investor Relations directly or go to ShengdaTech’s website at http://www.shengdatechinc.com .

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release and oral statements made by ShengdaTech on its conference call in relation to this release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company’s ability to prepare for growth, the Company’s ability to attract new domestic and international customers, and predictions and guidance relating to the Company’s future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the tire industry, changes in composition of tires, the Company’s ability to meet the planned expansion schedule for its NPCC capacity, the Company’s ability to identify acquisition targets, changes to government regulations, risk associated with operation of the Company’s new manufacturing facility, ability to attract new customers, ability to increase its product’s applications, ability of its customers to sell products, cost of raw material, downturns in the Chinese economy, and other information detailed from time to time in the Company’s filings and future filings with the United States Securities and Exchange Commission. You are urged to consider these factors care in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

For more information, please contact:

Andrew Chen, Chief Financial Officer

ShengdaTech, Inc.

Tel: +86-21-5835-8738

Email: andrew.chen@shengdatech.com

Web: http://www.shengdatechinc.com

Crocker Coulson, President

CCG Investor Relations

Tel: +1-646-213-1915

Email: crocker.coulson@ccgir.com

Web: http://www.ccgirasia.com

Source: ShengdaTech, Inc.
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Keywords: Chemical
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