HARBIN, China, April 14 /PRNewswire-Asia/ -- China XD Plastics Company Ltd. ("China XD Plastics" or the "Company"), (OTC Bulletin Board: CXDC), as the largest Chinese manufacturer engaged in the development, manufacturing, and distribution of modified plastics primarily for use in automotive applications, today announced that the Company’s wholly owned subsidiary, Harbin Xinda Macromolecule Material Co., Ltd. ("Xinda"), has been re-awarded the certification of ISO/TS16949:2002 standards by Quality Austria after its re-examination process.
The ISO/TS16949:2002 certification, which applies to automotive-related products, is an internationally recognized certification in the automobile industry which aims to develop a quality management system that promotes continuous improvement of automotive-related products, emphasizing quality assurance, quality control and defect prevention, and the reduction of variability and waste in production. The requirement of the Certificate was to standardize and integrate worldwide industry technology. The technology standards were developed by the International Automotive Task Force ("the IATF"), a group with members of major automotive OEMs in the United States， Germany, France, Italy, United Kingdom and other major global automotive OEMs and automotive industry groups. Only those that have passed the certification requirements are allowed to become suppliers of the organization’s members.
"We are very proud to be re-certified for the ISO/TS16949:2002 certification of Quality Management System. Over the past three years, with the implementation of the ISO/TS16949:2002 Quality Management System, we have made significant progress in production control. We have also been striving to reach our target rate of zero defects of products for delivery to our customers," commented Mr. Jie Han, Chairman and Chief Executive Officer of China XD Plastics. "At the same time, we have established a position as supplier for globally recognized automotive OEMs."
In August of 2005, Xinda was one of the first Chinese manufacturers of modified plastics for automotive applications to receive the ISO/TS16949:2002 certified by Quality Austria, the certification body under contract by the IATF. In order to ensure the effective application of Quality Management System, Quality Austria maintains a yearly supervision and verification, combined with a comprehensive examination and audit of the system every three years, and the certification is reissued for those companies that meet the requirements. In August of 2008, the Company successfully passed the comprehensive examination and audit process of the Quality Management System to again receive the certification. The certification is valid until August of 2011.
About China XD Plastics Company Ltd.
China XD Plastics Company Ltd., through its wholly owned subsidiary Harbin Xinda Macromolecule Material ("Xinda"), develops, manufactures, and distributes modified plastics, primarily for automotive applications. The Company’s specialized plastics are used in the exterior and interior trim and in the functional components of more than 30 automobile brands manufactured in China including Audi, Red Flag, Volkswagen and Mazda. The Company’s wholly owned research institute is dedicated to the research and development of modified plastics and benefits from technology collaboration with well-known scientists from leading Universities in China. At present, Xinda manufactures approximately 145 types of automobile-specific modified plastic products, 117 of which have been certified for use by one or more of the automobile manufacturers in China. For more information please visit http://www.chinaxd.net .
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, continued progress in production control; the receipt of orders from members of the IATF; the Company’s ability to raise additional capital to finance the company’s activities; the effectiveness, profitability, and the marketability of its products; the Company’s ability to successfully expand its production capacity; the future trading of the common stock of the company; the Company’s ability to operate as a public company; the period of time for which its current liquidity will enable the company to fund its operations; the company’s ability to protect its proprietary information; general economic and business conditions; the volatility of the company’s operating results and financial condition; the company’s ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company’s filings with the Securities and Exchange Commission and available on its website at http://www.sec.gov. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
China XD Plastics Company Ltd.
Mr. Kirby Zhao, US Representative
Tel: +1-212-747-1118 (New York)
Mr. Allan Lao, IR Director
Tel: +86-451-8434-6600 (China)
Email: ir@chinaxd.net
Web: http://www.chinaxd.net/
CCG Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Mr. Ed Job, CFA
Tel: +1-646-213-1914 (New York)
Email: ed.job@ccgir.com
Web: http://www.ccgirasia.com
