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China Gengsheng Minerals, Inc. Collaborates with Zhengzhou University on Bauxite-Based Materials Research

2008-04-21 15:48 1079

Collaboration Focuses on Process Optimization, Energy Efficiency & Pollution Control

Research Priority to Support Fine Precision Abrasives

GONGYI, China, April 21 /Xinhua-PRNewswire-FirstCall/ -- China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS) (“Gengsheng” or the “Company”), a leading manufacturer in China of industrial materials capable of withstanding high temperature, saving energy and boosting productivity, today announced that it has signed a five-year collaboration agreement with the Ceramics Research Institute of Zhengzhou University (“CRI” or “the Institute”) in Henan province of China, to research and develop innovative ways for improving the manufacturing process and functionality of an array of bauxite-based materials.

According to the agreement, Gengsheng will work with CRI’s primary researchers to optimize and reduce costs for the production of fine precision abrasives, which are bauxite-based, ultra-fine, grain-like materials used to polish the fine-metal or optical equipment surfaces, including solar panels. CRI will also help Gengsheng develop next-generation industrial ceramics that can reduce energy use and pollution. In addition, Gengsheng and CRI will jointly apply for government grants for bauxite-based materials research.

“Our announcement today of the collaboration with Zhengzhou University is a decisive event on our path to becoming a world-class industrial materials manufacturer,” said Dr. Kai Shi, Chief Engineer of Gengsheng. “The Institute has a nationally recognized research lab with sophisticated testing equipment and a highly-trained staff, some of whom are foreign-educated. We couldn’t have found a better partner in our current growth phase, with exciting, innovative products and brand-new markets in the offing.”

The CRI of Zhengzhou University was founded in 1999 and currently comprises six Ph.D.’s and a researcher. The Institute is known for breakthroughs in high-temperature-resistant ceramics and pioneering researches related to fine precision abrasives.

“Our collaboration with Gengsheng will bring us an opportunity to fully utilize our resources and apply our cutting-edge research products to commercial uses,” said Dr. Rui “Ray” Zhang, President of the CRI. “This agreement was seven months in the making, during which the two parties had spent sufficient time getting to know each other. We are impressed with Gengsheng’s pragmatism, its emphasis on R&D and its rigorous testing mechanism. As a result, our first research project is already under way upon the signing of this agreement.”

About China Gengsheng Minerals, Inc.

China Gengsheng Minerals, Inc. (“Gengsheng”) develops, manufactures and markets a broad range of mineral-based industrial material products, including monolithic refractories, industrial ceramics and fracture proppants. A market leader offering customized solutions, Gengsheng sells its products primarily to the iron-and-steel industry as heat-resistant components for steel-making furnaces, industrial kilns and other high-temperature vessels to guarantee and improve the productivity of those expensive pieces of equipment while reducing their consumption of energy. Founded in 1986 and based in China’s Henan province, Gengsheng currently has over 200 customers in the iron, steel, oil, glass, cement, aluminum and chemical businesses located in China and in 11 other countries. Gengsheng conducts business through Gengsheng International Corporation, a British Virgin Islands company, and its Chinese subsidiaries, which are Henan Gengsheng Refractories Co., Ltd., Zhengzhou Duesail Fracture Proppant Co., Ltd. and Henan Gengsheng High Temperature Materials Co., Ltd.

For more information about the Company, please visit http://www.gengsheng.com .

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of China Gengsheng Minerals, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding the Company’s ability to market its products and services internationally; the Company’s ability to meet its projected output for the term of the supply contracts; the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

For more information, please contact:

In China:

Mr. Fulong Zheng

Investor Relations

China Gengsheng Minerals, Inc.

Tel: +86-371-6405-9846

Email: zflde@163.com

In the U.S.:

Valentine Ding

Investor Relations

The Global Consulting Group

Tel: +1-646-284-941

Email: vding@hfgcg.com

Source: China Gengsheng Minerals, Inc.
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Keywords: Oil/Energy
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