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[February 2008]
China Gengsheng Minerals Wins Contracts With Baosteel-Han Steel's JV
China Gengsheng Minerals Inc (Gongyi, China), a leading manufacturer in China of heat-resistant and energy-saving industrial materials, has announced that it has won four supply contracts valued at approximately US$1.9 million, with Hanbao Iron & Steel Co Ltd, the US$1.6 billion joint venture between Baosteel Group and Handan Iron & Steel Group, China's two top steelmakers.
Gengsheng's refractory products are primarily used in steelmaking furnaces, industrial kilns and other high temperature vessels, to maintain and extend their service life, minimise heat and mass loss during production and to reduce overall costs and improve the productivity of steelmaking.
Under the contracts, Gengsheng will supply castables, bricks and other refractory materials to Hanbao Steel for use in its hot rolled strip units construction project. Gengsheng will also provide technical services for the installation and inspection of the materials supplied under each of the contracts. The Hanbao Steel project is expected to be completed in the first half of 2008 and will have a production capacity of 4.6 million metric tons of high-end flat steel products annually.
"We are honored and excited to be a supplier to Hanbao Steel," said Mr Shunqing Zhang, Chairman, CEO and President of Gengsheng, "especially in light of Hanbao Steel's presence in the high-end steel market, which primarily serves the automobile and shipping industries. We believe that the contracts are a testament to the superior quality and reliability of Gengsheng's products."
www.gengsheng.com
ENDS