NEW YORK, May 30 /Xinhua-PRNewswire-FirstCall/ -- American Nano Silicon Technologies, Inc. (Pink Sheets: ANNO) today announced the signing of a sales contract with Chongqing General Trading Group, under which American Nano Silicon Technologies will produce and deliver 20,000 tons of Micro-Nano Silicon from May 1st, 2008 to April 30th, 2009. The contract price for the Micro-Nano Silicon is around $425 per ton.
The sales contract also requires that Chongqing General Trading Group provide around $150,000 dollar worth of raw materials to American Nano Silicon Technologies each month. Chongqing General Trading Group ranked the 270th of China’s Top 500 Enterprises and the 3rd of China’s Top Business Retail Enterprises in 2007.
"We are pleased and honored to sign the $8.5 million sales contract with Chongqing General Trading Group. It is a milestone toward our Company’s mission to develop more and more creative products to meet the needs of our customers," said Mr. Fachun Pu, Chairman of the Company.
About American Nano Silicon Technologies, Inc.
American Nano Silicon Technologies, Inc., through its 95%-owned subsidiary, Nanchong Chunfei Nano Silicon Technologies Co., Ltd., is engaged in the business of manufacturing and distributing refined consumer chemical products across China. Its new product Micro-Nano Silicon(TM) is adaptable to and widely used in many consumer and industrial products, including laundry detergent, petrochemical, plastics, rubber, paper, ceramics and water treatment materials etc. The total investment of this project is RMB 60 million (or around $8 million dollars). The first 30,000 tons of capacity was completed and put into production in October 2008. It is reported that after the full production line with total annual capacity of 100,000 tons is put into operation, it can achieve total sales of $67 million and net profit of $12 million annually.
About Chongqing General Trading Group
Chongqing General Trading Group has total assets over RMB10 billion and total sales of more than RMB22 billion. Currently, it has around 70,000 employees. It ranked the 270th of China’s Top 500 Enterprises and 3rd of China’s Top Business Retail Enterprises in 2007. It owns significant interests in the following companies: Chongqing New Century Department Store Company, Chongqing Department Store Co., Ltd, Automobile Trading Co., Ltd, ChongQing Electric Co., Ltd, Chongqing Industrial Chemicals Co., Ltd, Zhongtian Hotel, and Chongqing Zhongtian Real Estate Development Co. Chongqing Department Store Co., Ltd is a public company in China with market capitalization over RMB 40 billion.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
