TAI’AN, Shandong, China /Xinhua-PRNewswire-FirstCall/ -- China RuiTai International Holdings Co., Ltd. (OTC Bulletin Board: CRUI) (“China RuiTai” or “the Company”), a leading producer and distributor of cellulose ether products in the People’s Republic of China (“PRC”), today announced that production has increased to normalized levels following the lifting of energy usage restrictions imposed by the Chinese government to avoid power outages during the second quarter.
“We are pleased that our capacity utilization has increased since the removal of energy usage restrictions, and we are now back to running 10 manufacturing plants, as opposed to having to shut down two to three plants each day during the shortage,” said Mr. Dianmin Ma, Chairman and Chief Executive Officer of China RuiTai. “In the third and fourth quarters, we typically experience higher sales volumes compared to the first half. We received several new clients recently and have new orders totaling 100 metric tons. We look forward to improving our production technology and continuing with our capacity expansion strategy in order to capture the growing demand for cellulose ether products in the pharmaceutical and construction industries in China and abroad.”
About China RuiTai International Holdings Co., Ltd.
China RuiTai International Holdings Co., Ltd. (OTC Bulletin Board: CRUI), through its operating subsidiary, is engaged in the production, sales, and exportation of deeply processed chemicals, with a primary focus on non-ionic cellulose ether products. Cellulose ether is an organic chemical that acts as a thickener and dissolves in water and other organic solvents. The Company is one of the largest non-ionic cellulose ether producers in China delivering products for the pharmaceutical, PVC manufacturing, construction industry, the personal care market and oil field exploration and recovery industries. China RuiTai exports to United States, Europe, India, the Middle East, and South East Asia.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management’s current expectations. Such factors include, but are not limited to the company’s ability to complete product orders, coordinate product design with its customers, ability to expand and grow its distribution channels, political and economic factors in the People’s Republic of China, the company’s ability to find attractive acquisition candidates, dependence on a limited number of larger customers and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
China RuiTai International Holdings Co. Ltd.
Mr. Gang Ma, CFO
Email: fcmagang@163.com
Tel: +86-538-385-0703
CCG Investor Relations
Mr. Crocker Coulson, President
Email: crocker.coulson@ccgir.com
Tel: +1-646-213-1915
Web: http://www.ccgir.com
