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Beicang Iron & Steel Inc. Retains CCG Elite

2007-07-17 12:07 999


LOS ANGELES and TAIYUAN, China, July 17 /Xinhua-PRNewswire-FirstCall/ -- Beicang Iron & Steel (OTC Bulletin Board: BEIC) ("Beicang" or "the Company"), a leading supplier of refined materials for the iron and steel industry, announced today that it has retained CCG Elite to design and execute its investor relations campaign.

Beicang Iron & Steel specializes in the production of pelletized ore and ferrochromium alloy, which are key raw materials used for producing stainless steel and iron. Beicang is located in Taiyuan, Shanxi Province in the People's Republic of China and currently has a total production capacity of 40,000 tons of ferrochromium alloy per year and 400,000 tons of pelletized ore per year. For the year ended December 31, 2006, net sales totaled $38.4 million, up approximately 10% from $34.9 million in 2005.

"We are the largest non-state-owned pelletized ore producer in Shanxi Province which is the fourth largest iron ore base in china with proven iron ore storage of approximately 3.7 billion tons," said Mr. Hou Beicang, Chairman and CEO of Beicang Iron & Steel, "We look forward to working with CCG Elite to increase our visibility in both the investment community and with the financial media as we embark on our growth strategy."

China's iron and steel market has entered into a rapid development phase, driven by China's strong manufacturing base and rapidly developing construction and transportation infrastructure. The growth in demand has continued in 2007, through May of the year, Chinese steel production was 196.0 million tons, 20% greater than comparable 2006 figures.

China is now the largest consumer of steel and the largest stainless producer in the world. In order to take advantage of this industry growth, Beicang intends to first increase utilization and then expand capacity of its ferrochromium alloy and pelletized ore production facilities. The company's goal is to achieve 800,000 tons of pelletized ore and 80,000 tons of ferrochromium alloy in annual production within the next three years.

"Beicang is one of the largest private suppliers of these critical raw materials to the stainless steel and iron industries in China, with a strong management team and a growing customer base," said Crocker Coulson, President of CCG Elite. "The Company had acquired governmental approval to double its annual production capacity of pelletized ore to 800,000 tons, and it is positioned to take advantage of increasing demand for stainless steel and iron in China."

About Beicang Iron & Steel

Beicang Iron & Steel is a Nevada corporation that is a public reporting company in the US. It supplies elementary refined raw materials including pelletized ore and ferrochromium alloy products, through its affiliates and controlled entities in Shanxi province, P.R. China, to steel companies for making iron and stainless steel. The Company currently possesses 400,000 tons of annual pelletized ore capacity and 40,000 tons of annual ferrochromium alloy capacity respectively. For more information about Beicang, please visit http://www.bcironsteel.com .

About CCG Elite

CCG Elite is uniquely positioned to provide an outsourced, high-level investor relations solution that combines in-depth understanding of Asia's corporate culture and economic scene and a direct pipeline into the leading funds and broker-dealers in the U.S. CCG Elite is a global, full-service investor relations agency with corporate headquarters in Los Angeles and offices in New York City, Newport Beach, Calif., Dallas, Texas, Hong Kong and Beijing. For further information, contact CCG Elite directly, or visit the Company's Web site at http://www.ccgelite.com .

Source: Beicang Iron & Steel Inc.
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Keywords: Machinery
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