NEW YORK, Nov. 1 /Xinhua-PRNewswire-FirstCall/ -- American Nano Silicon Technology, Inc. (Pink Sheets: ANNO) announced today that the Company has officially begun work on its 100,000 ton per year production line for Micro-Nano-Silicon(TM). Micro-Nano Silicon(TM) is adaptable to many uses, including laundry detergent, petrochemical, plastics, rubber, paper, ceramics and water treatment industries. The total investment of this project is RMB60 million ($8 million). The first 50,000 tons of capacity will be completed and put into production in October 2008. It is reported that after the full 100,000 ton per year production line is put into operation, it can increase sales revenue by $67 million and net profit by $12 million annually.
Currently, the research of the Sichuan Chunfei Research Institute of Refined Chemicals into Micro-Nano Silicon is fulfilling its promise. Government experts have reviewed the project and affirmed that the process is new, proprietary, useful and compliant with environmental regulations. “We are pleased and honored to break ground on the production line. It is part of our Company’s unswerving mission to develop more and more creative products to meet the needs of our customers,” said Mr. Pu Fachun, Chairman of the Company.
Safe Harbor Statement
American Nano Silicon Technology, Inc., through its 95%-owned subsidiary, Nanchong Chunfei Nano Silicon Technologies Co., Ltd., located in Sichuan Province in Southwest China, is engaged in the business of manufacturing and distributing refined consumer chemical products across China through its subsidiary, Chunfei Chemicals, and veterinary drugs through another subsidiary, Hedi Medicines.
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.
For more information, please contact:
David H. Smith
Tel: +1-212-232-0120
