HARBIN, China, Aug. 5, 2008 (PRIME NEWSWIRE) -- Chang-On International Inc. (OTCBB:CAON), a company engaged in green architectural products made of its innovative SF brand of synthetic resin, is pleased to announce that it plans to increase production in order to meet growing demand for its concrete formwork.
The Company's current production facility has an operating capacity of approximately 60,000 units of architectural formwork per year, and has already received orders for more than 2,000 units with new orders coming in.
According to Li Guomin, President of Chang-On, "We began the R&D process for creating our SF brand of synthetic resin using recycled plastic and coal waste in 2004. After years of extensive testing and research, Chang-On resolved key technical difficulties and constructed its first architectural framework production line in April of this year. We are constantly looking for ways to further refine our production techniques, and are now able to launch a new formwork production line for as little as RMB2 million in fixed assets and RMB1 million of working capital. Our strategy is to selectively locate our new production facilities in regions of high demand for concrete construction formwork."
About Chang-On International, Inc.:
Chang-On International Inc. (OTCBB:CAON) is a Chinese manufacturer of green architectural products made of its innovative SF brand of synthetic resin. Using patented technologies, the Company is engaged in the manufacturing and sale of green architectural products in the multi-billion dollar building materials market in the People's Republic of China. Through its sole operating subsidiary Harbin Hongbo Environment Protection Material Ltd., the Company utilizes China's abundant supply of recycled plastic and coal waste as its main raw materials. SF resin can be molded into a virtually limitless range of end-use products, including pallets, pipes, tubes and wallboard, and is a superior substitute for PVC, steel, wood and cement. The Chinese government continues to make energy efficiency and green construction top priorities, and Chang-On is well-positioned to become a major player in this growing sector. For more information, please visit the company's website at: www.changon.com.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.