HARBIN, China, June 16 /Xinhua-PRNewswire/ -- Chang-On International Inc. (OTC Bulletin Board: CAON) ("CAON" or "the company"), a company engaged in the business of waste recycling and reutilization, announces that the company had entered into a sales contract with Harbin Xin Yang City Construction Development Co., Ltd. ("Xin Yang"). The deal states that it will provide a total of 20,000 pieces of construction molding board to Xin Yang. This contract will bring a total of RMB 2.4 million (or USD 310,000) in sales income for the company.
The main business of CAON covers selecting waste plastics and coal ash as raw materials to produce SF synthetic materials, which will be made into boards, tubes and profiled bars to replace mid-density boards, steel molding boards, PVC materials and plastic profiled bars that are currently used in construction areas. Such material is more competitive than foreign products, which merely utilize waste material, as this not only makes use of waste plastics, but also utilizes coal ash, and most importantly, the cost is comparatively much lower than other substitutions, meaning more and more local developers are showing great interest in the related products.
"China has always paid great attention to the research and development of coal ash, waste plastics and their products, and worked out preferential policies to encourage the developers. SF synthetic material will have a great potential in Chinese markets, for the product has better quality and performance, and cheaper costs, making it an easy choice to replace PVC, plasticized steel bars, mid-density fiberboard and steel molding boards," Mr. Li Guomin, the president of CAON, said, "In fact, except Xin Yang we have discussed with some other local developers about the new materials and relative products. They show great interests in it. We can see that our sales volume will have a high-speed growth in the coming months."
About Harbin Hongbo Environment Protection Material Ltd.
Founded in 2004, Harbin Hongbo Environment Protection Material Ltd. is located in the Harbin Economy & Technology Development Zone, Heilongjiang Province, China, 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). It is a joint venture between enterprises from Taiwan, Hong Kong and domestic companies.
Harbin Hongbo focuses its core business in comprehensive resources and utilization of industrial solid wastes in resources and environment fields. Their main product is SF synthetic material, a new type of material for environment protection and energy saving, which is abbreviated for synthetic material of plastics and coal ash. And based on the material, the company develops different products, such as boards and profiled bars used in well lid, grates for water drainage pools, guard railings, protective boards for slopes, hard shoulders, inner wall cable pipes/tubes, and home renovations, etc.
The company has maintained the partnership with Changchun Applied Chemistry Institute of China Academy of Sciences, which mainly specializes in the research of resources and environment, advanced materials, development of carbon dioxide, corn and rare earth resources, focusing on the development of advanced structure materials, advanced composite materials, 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 SF synthetic material, especially construction molding boards, and then expand the scale of production, purchase new equipment, and increase output in future developments.
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
