HARBIN, China, Oct. 8, 2008 (GLOBE NEWSWIRE) -- Chang-On International Inc. (OTCBB:CAON), a company engaged in green architectural products made of its innovative SF brand of synthetic resin, announced today that it has reached an important early milestone in the registration process for government approval to engage in import and export activities. The Company's registration as an external trade proprietor was recently approved by the government, granting the import and export rights for its products and proprietary production techniques. All China enterprises must secure approval from the government of the PRC prior to engaging in external trade. This approval process involves a series of registrations and licenses from the government, of which the registration of external trade proprietor is the initial stage.
Mr. Li Guomin, President of CAON, stated, "We are pleased to be able to announce the attainment of this recent milestone. This is an important step in our ultimate goal of expanding our reach into international markets and bringing our unique products to foreign buyers. We are actively engaged in completing all of the necessary steps to engage in external trade, and have made this one of our top priorities as we move forward with our development strategy."
About Chang-On International Inc.:
Chang-On International Limited (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 sales 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, Inc., 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: http://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.