NINGBO, China, May 6 /PRNewswire-Asia-FirstCall/ -- Silver Pearl Enterprises, Inc. (to be renamed Keyuan International Group Limited) (OTC Bulletin Board: SVPE), ("Keyuan" or the "Company"), a leading independent manufacturer and supplier of various petrochemical products in China, announced today that it has engaged Hampton Growth to assist in providing investor relations services as a complement to the efforts of HC International, Inc., which will be providing a program of traditional investor relations activities and institutional investor management for the Company.
Keyuan Petrochemicals is a leading independent manufacturer and supplier of a wide range of petrochemicals in China. The Company's products include BTX Aromatics, Propylene, Styrene, Liquefied Petroleum Gas and MTBE as well as other chemicals, which are used in a variety of industrial applications and products, including paint, ink, packaging and construction materials, pesticides, household detergents, electronic parts, and home furnishings, among others. The Company currently has 550,000 metric tons of production capacity and is experiencing high demand for its products due to China's robust economic growth and under-developed supply capacity. The Company recently completed a $23.2 million private placement and plans to use the net proceeds to expand its manufacturing facility, which will include a raw material pre-treatment facility, additional storage facility and an asphalt production facility. For the year ended 2009, the Company realized $68.7 million in revenue. The Company estimates that the revenue in 2010 will be approximately $460 million.
"We are excited to be working with Hampton Growth and look forward to them assisting us to maximize the value of our enterprise by providing exposure to their vast network of retail brokerage firms and Asian investors," said Mr. Chunfeng Tao, Chairman, Chief Executive Officer, and President of the Company. "Hampton Growth's experience in working with Chinese industrial firms and their presence on the ground will be a valuable asset to us following our reverse merger and recent private placement."
Robert Haag, Managing Director of Hampton Growth, stated, "I was very impressed when I visited Keyuan's facility in March and we are highly confident that their experienced management team is well positioned to take advantage of the growing market for petrochemicals in China and significantly increase shareholder value. Our multination team, based in China and USA, will be able to assist Keyuan to build visibility and support by introducing the Company to key market participants in Asia, Europe and the USA focused on high growth equities in China."
About Keyuan Petrochemicals Co. Ltd.
Keyuan Petrochemicals Co. Ltd., established in 2007 and operating through its wholly-owned subsidiary, Keyuan Plastics, Co. Ltd., is located in Ningbo, China and is a leading independent manufacturer and supplier of various petrochemical products. Having commenced production in October 2009, Keyuan's operations include an annual petrochemical manufacturing capacity of 550,000 metric tons (MT) of a variety of petrochemical products, with facilities for the storage and loading of raw materials and finished goods, and a technology that supports the manufacturing process with low raw material costs and high utilization and yields. In order to meet increasing market demand, Keyuan plans to expand its manufacturing capacity to include a raw material pre-treatment facility, additional storage capacity and an asphalt production facility.
About Hampton Growth
Hampton provides advisory and consulting services that include Project Management, Investor Relations, Capital Formation, Corporate Structuring, Business Plan Development and Editing, Accounting Services, Board and Executive Development, Target Identification and Penetration for Specific Business Developments. When assisting our clients, we utilize our extensive database of investors, investment funds, investment banks, executives, lawyers and accountants to help companies achieve their goals. For more information, please visit: http://www.hamptongrowth.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.
For more information, please contact:
Investor Relations Contact:
Mr. Robert Haag, Managing Director, Asia
Hampton Growth, LLC
Tel: +86-152-2174-3282
Email: robert@hamptongrowth.com
Mr. Andrew Haag, Managing Partner, USA
Hampton Growth, LLC
Tel: +1-877-368-3566
Email: andrew@hamptongrowth.com
Web: http://www.hamptongrowth.com
Corporate Communications Contact:
Ted Haberfield, Executive VP
HC International, Inc.
Tel: +1-760-755-2716
