FEICHENG, China, Oct. 13 /PRNewswire-Asia-FirstCall/ -- China Ruitai International Holdings Co., Ltd. ("China Ruitai" or the "Company") (OTC Bulletin Board CRUI), a manufacturer and distributor of cellulose ether additives for use in the production of pharmaceuticals, construction materials and adhesives, foods and beverages and cosmetics, announced that it secured a 50 ton cellulose ether contract valued at $0.5 million from ThinFilm, a Shanghai-based pharmaceutical tablet and pill coating company.
"The ThinFilm order is the result of our focus in the pharmaceutical industry where we see the greatest potential for our high-end, high-margin customized cellulose ether products," began Chairman Dianmin Ma of China Ruitai. "As we further concentrate our efforts in the segment, we hope to secure new customers, in addition to a steady flow of reorders for our Rutocel-branded cellulose ethers in China and international markets."
China Ruitai's cellulose ethers cater to a variety of industries in China including the pharmaceutical, packaged food, personal care and cosmetics, and construction industries. Depending on the end product, cellulose ethers are used as coating and binding agent for pharmaceutical drugs, a thickening agent in cosmetics, personal care and foods, a hardening agent for PVC and an adhesive for paints and glues.
As a result of increased demand for the Company's ethyl crystalline ("EC") product line from pharmaceutical customers, the Company has created a dedicated sales department for this sector based in the Company's Feicheng Headquarters in the Shandong province. EC is the Company's highest margin product line and typically sells at 50-plus percent gross margins. Average selling price of China Ruitai's organic, cotton-based cellulose are approximately $12,000 per ton.
About China Ruitai International Holdings Co.
China Ruitai, through its wholly-owned subsidiary, Pacific Capital Group and its majority-owned subsidiary, TaiAn, is engaged in the production, sales, and exportation of deeply processed chemicals, with a primary focus on non- ionic cellulose ether products. Cellulose ether is an organic chemical that dissolves in water and other organic solvents. Due to the surface-active properties of cellulose ether, it acts as a thickener and stabilizer in aqueous solutions, making it a beneficial additive in a wide variety of commercial industries and products, including, but not limited to the pharmaceutical industry, the construction industry, PVC products, food and beverage products, petroleum, and cosmetics. Specific examples of applications in which cellulose ether products are used include: as a stabilizer and thickener in latex paint; in mortar dry mix for building materials; to improve the performance of resin in PVC production; as a membrane reagent, stabilizer, and thickener in pharmaceuticals; and to improve jam, ice cream, toothpaste and lipsticks in the food and cosmetic industries. TaiAn is one of the largest non-ionic cellulose ether producers in China.
Forward-Looking Statements
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The
forward-looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from any
forward- looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.
For additional information contact:
China Ruitai International Holdings Co., Ltd.
Ms. Crystal Tang, VP of Finance
1221 Avenue of Americas Suite 4200
New York, NY 10020.
Tel: +1-212-899-5131
Email: tmqcrui@gmail.com, crystal@rutocel.com
HC International, Inc.
John Mattio, Senior Vice President
420 Lexington Avenue
New York, New York
Web: http://www.hcinternational.net
Tel: +1-203-616-5144
Email: john.mattio@hcinternational.net
