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Chang-On International Inc. Expects io Open New Production Facility in South China

2007-10-31 20:28 1958


HARBIN, China, Oct. 31 /Xinhua-PRNewswire/ -- Chang-On International Inc. (OTC Bulletin Board: CAON) ("CAON" or the "Company"), announced recently that it will complete a new SF synthetic materials production facility in the province of Hainan in 2008. The new facility will focus on construction materials production especially construction board with a capacity of 10,000 tons per year by expectation, making it one of the largest SF synthetic materials producer in Hainan province.

Hainan province is located in South China. The scope of the application of construction materials has been constantly expanded during the last few years as its total economy and output grows. From a strategic perspective, this location of the new facility will facilitate CAON's ability to deliver products to South China in the near future.

"The new facility increases the Company's production capacity, significantly improves its supply and distribution network in the region, and reinforces the Company's ability to control the quality of its hybrid seeds at all levels," said Mr. Li Guomin, the President of Chang-On International Inc. "We hope our shareholders will benefit from this expansion. Once permitted, we will step forwards to set up more facilities in other important regions such as Tianjin and Inner Mongolia."

About Chang-On International Inc.

Chang-On International Inc. (OTC Bulletin Board: CAON) is a leading provider of synthetic material using waste recycled waste materials in China. Strategically located in Harbin City of China, Chang-On International Inc. has an operating subsidiary, Harbin Hongbo Environment Protection Material Ltd. ("Harbin Hongbo"), with a registered capital of RMB 3 million (or USD 375,000) and total assets of nearly RMB 10 million (or USD 1.25 million). Founded in 2004, Harbin Hongbo is a joint venture between enterprises from Taiwan, Hong Kong and a domestic company.

Harbin Hongbo focuses its core business on comprehensive resources utilization of industrial solid wastes in resources and the environmental field. The main product is SF synthetic material, a new type of material in environmental protection and energy saving, which is abbreviated for synthetic material of plastics and coal ash. Based on this material, the company develops different products, such as boards and profiled bars used in well lids, grates for water drainage pools, guard railings, protective boards for slopes, hard shoulders, inner wall cable pipes/tubes, home renovation and others.

The company has maintained a partnership with Changchun Applied Chemistry Institute of China Academy of Sciences, which mainly specializes in researches into resources and the environment, advanced materials, development of carbon dioxide, corn and rare earth resources, focused development of advanced structure materials, advanced composite materials, and advanced functional materials. Mr. Mo Zhishen, professor of the Institute, acts as the company's R&D leader.

Harbin Hongbo will focus on the development and use of the SF synthetic material, especially construction molding board, and then expand the scale of production, purchase new equipment, and increase output in future development.

Forward-looking Statements

This report contains '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. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese, European and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.

The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.

For more information, please contact:

Mr. Wang Hui

Tel: +86-451-8269-5010

Email: wanghui-1027@163.com

Web: http://www.chuangon.com

Source: Chang-On International Inc.
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Keywords: Machinery
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