HONG KONG, Jan. 20, 2015 /PRNewswire/ --Tiangong International Company Limited ("Tiangong International" or the "Group"; Stock Code: 826.HK), China's largest manufacturer of high-speed steel (HSS) and a leading manufacturer of HSS cutting tools and die steel, is pleased to announce that two of its self-developed new products -- "M42 Bi-metal Blade Material" and "High Sulphur Content High Speed Steel" -- have been ranked as Provincial Hi-Tech Products by the Jiangsu Provincial Department of Science and Technology. The ranking of both new products as provincial Hi-Tech products follows the ranking of Tiangong International's "Ultra-high-quality High Tropism Hot-Work Die Steel For Precision Moulding" and "Micro Alloy Cold-Work Large-sized Ingot Round Steel For Precision Moulding" as Provincial Hi-Tech Products in August 2014. This successful ranking is further proof of the government's recognition of the Company's investment in research and technological innovation, and will bring positive effects to the future development of Tiangong International.
Tiangong International products, including "M42 Bi-metal Blade Material" and "High Sulphur Content High Speed Steel", adopt new smelting and crafting technologies which make clear improvements in the tenacity, strength, wearing resistance, and marketing competitiveness of the products. Furthermore, Tiangong International is the first company in China to be able to mass-produce "High Sulphur Content High Speed Steel". The Group has already completed trial production of "High Sulphur Content High Speed Steel" and has successfully secured mass production orders from domestic and overseas users.
The management of Tiangong International commented that a number of the Group's products have been honoured as Provincial Hi-Tech Products, not only fully demonstrating its high level of technology innovation, also but reflecting its outstanding performance in product innovation and refinement and in enhancing product competitiveness. The Group will continue to devote every effort to progressively engage in new product development in order to fulfil the demand of domestic and overseas clients, to consolidate its leading position in the market and to deliver greater returns to shareholders.
