REDWOOD CITY, Calif., Nov. 17, 2005 (PRIMEZONE) -- The YaSheng Group (Pink Sheets:YHGG) announces additional details of methanol production. The project will utilize metallurgical by-product gas as the main raw material. Methanol will be produced through rational displacement and blending of metallurgical by-product gas and natural gas. The company will implement an environmental protection policy to this plant to promote recycling of resources, optimize energy distribution and improve the overall environmental quality of the plant and surrounding areas.
The projected annual production of 500,000 tons of methanol complies with national quality standards GB338-92. The production plant will be located in the Industrial and Economic development zone of Jiayuguan City and covers an area of 24 hectares with 27,274 square meters of floor space. The project will require 307 million cubic meters of gas, 1120 million cubic meters of converter gas, and 1845 million cubic meters of blast furnace gas. The raw materials will be supplied by Qinghai Sebei Gas Company, Jiuquan Steel Company and China National Petroleum Corporation.
The construction of the new methanol production plant is estimated to take 3 years. Preliminarily forecast of annual sales is approximately 121million USD with total profit margin of approximately 22 percent. Profit ratio of investment is approximately 12.29%.
About YaSheng Group:
The YaSheng Group (Pink Sheets:YHGG) is a diversified industrial conglomerate incorporated in Redwood City, California, operates in hi-tech agriculture, salt chemistry and biological technology as its core business with advantages in rich land, mineral resources, capital and technology reserves.
Through its 136 subsidiaries, the company operating categories include: chemical engineering, agricultural production, biotech, pharmaceuticals, textile products, printing and dyeing, commercial trading, beverages and inorganic salt manufacturing. With total assets of approximately $1.5 billion USD and over 15,000 employees, YaSheng Group has 155,097,355 shares issued and outstanding as of December 1, 2004.
Further information concerning YaSheng Group can be found on the corporate website: www.yashenggroup.com
Forward-Looking Statements:
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.