ZHENJIANG, China, Jan. 3, 2017 /PRNewswire/ -- Delta Technology Holdings Limited (NASDAQ: DELT) today announced it has entered into a long-term contract to provide a monthly supply of 40 tons of 2-chlorobenzaldehyde (OBCA) to Changzhou Tronly New Electronic Materials Co., Ltd. (Shenzhen Stock Exchange: 300429).
This is a multi-million dollar contract for Delta Technology Holdings. Changzhou Tronly is a major manufacturer in the high-technology industry with a market value topping $1.2 billion (U.S.). 2-chlorobenzaldehyde is primarily used in medicines and pesticides.
Changzhou Tronly also manufactures products for the manufacture of printed circuit boards, liquid crystal displays and for the semi-conductor and other industries. Its products are sold and patent-protected in China, the balance of Asia, and Europe.
"There is a great priority placed on the purity and stability of the raw materials provided," said Shi Weiping, head of the Sales Department at Delta Technology. "That's why we are so pleased that Changzhou Tronly recognizes the advantages Delta Technology presents in production technology and product quality control and has chosen our company to be its exclusive supplier of OBCA products."
"This is an important contract for Delta Technology, showing that our Company's production technology and quality control have been recognized by a prominent high-tech company. This is a promising new market for Delta Technology and we are pleased to share this news with our investors," said Mr. Shi.
About Delta Technology Holdings Ltd.
Founded in 2007, Delta Technology Holdings Ltd. is a leading China-based fine and specialty chemical company producing and distributing organic compound including para-chlorotoluene ("PCT"), ortho-chlorotoluene ("OCT"), PCT/OCT downstream products, unsaturated polyester resin ("UPR"), maleic acid ("MA") and other by-product chemicals. The end application markets of the Company's products include Automotive, Pharmaceutical, Agrochemical, Dye & Pigments, Aerospace, Ceramics, Coating-Printing, Clean Energy and Food Additives. Delta has approximately 300 employees, 25% of whom are highly-qualified experts and technical personnel. The Company serves more than 380 clients in various industries.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded or followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Forward-looking statements in this release also include statements about business and economic trends. Investors should also consider the areas of risk described under the heading "Forward Looking Statements" and those factors captioned as "Risk Factors" in DELT's periodic reports under the Securities Exchange Act of 1934, as amended, or in connection with any forward-looking statements that may be made by DELT.
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