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China Shuangji Cement, Ltd. Moves Closer to New Zhaoyuan Facility Opening and Reiterates Growth Outlook

2010-09-13 11:30 855

Company Has Ordered, Received and Installed Most Equipment to Complete Construction

ZHAOYUAN CITY, China, Sept. 13 /PRNewswire-Asia/ -- China Shuangji Cement, Ltd. (OTC Bulletin Board: CSGJ) ("China Shuangji" or the "Company"), a leading producer of high-quality Portland cement in Shandong and Hainan Provinces in the People's Republic of China (PRC), announced today that the Company is moving closer towards completion of its new Zhaoyuan Cement Production Facility and reiterated its growth outlook.

"Once completed, our production capacity will increase approximately 66% over our current level and we are already seeing strong interest from local contractors to buy cement from this plant once it starts producing cement," stated Mr. Wenji Song, Chairman and President of China Shuangji Cement, Ltd. "We are very excited that we received the capital to complete this project.  While the exact completion date is contingent upon how quickly the equipment is integrated and tested, we expect to be operational by the first week of October."

Continued Mr. Song, "China, especially the areas we operate in, is enjoying strong economic growth and the construction industry continues to be driven by demand for new buildings and cement intensive infrastructure projects. We see these conditions continuing as the outlook for the remainder of 2010 and beyond remains positive underpinned by large stimulus spending and strong organic demand. As a result, we are reiterating our strong future growth outlook and expect that with the new plant's increased capacity, our sales and profit run rate will be about 66% higher than it is now.  That means in the very near future, we will be operating at an annual rate of about $96 million in sales and about $7.5 million net."

As previously announced, China Shuangji secured a non-convertible $3.7 million loan from an individual Chinese investor to complete the construction of its new 1,000,000 metric ton capacity cement factory in Zhaoyuan City, which is located approximately five miles from the Company's former facility. China Shuangji has used the funds to purchase the remaining equipment needed to finish the partially completed plant. To date, much of the building and infrastructure has been completed at the new facility and almost all the equipment has been installed.

About China Shuangji Cement, Ltd.

China Shuangji Cement, Ltd. (OTC.BB: CSGJ - News), through its affiliates and controlled entities, is a leading producer of high-quality Portland cement in Shandong and Hainan Provinces. Its processed cement products are primarily purchased by contractors for the construction of buildings, roads, and other infrastructure projects. The Company currently produces approximately 1,500,000 tons of Portland cement annually from two facilities in Hainan and one facility in Shandong and it expects its output will increase by 1,000,000 tons to a total of 2,500,000 tons once the new Zhaoyuan (Shandong Province) plant and upgrades are completed. For more information about China Shuangji, please visit its corporate website at http://www.shuangjicement.com/.

Safe Harbor Statement

The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development and market conditions. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We do not intend to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. In addition, please refer to the Risk Factor section of our 2009 Form 10-K filed with the Securities and Exchange Commission on April 15, 2010 and detailed in other reports filed with the Securities and Exchange Commission from time to time.

Investor Relations Contact:


Mr. Andrew Haag, Managing Partner, USA


Hampton Growth, LLC


Tel: +1-877-368-3566


E-mail: csgj@hamptongrowth.com




Mr. Robert Haag, Managing Director, Asia


Hampton Growth, LLC


Tel: +86-152-2174-3282


Tel: + 310-310-4842


E-mail: robert@hamptongrowth.com


Website: www.hamptongrowth.com

Source: China Shuangji Cement, Ltd.
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