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[February 2010]
China Ceramics Co Acquires New Production Facility in Gaoan, China
China Ceramics Co Ltd (reporting from Tortola, British Virgin Islands) announced that the Gaoan City Administration for Industry and Commence has transferred to the company the registration and business licence for the previously initiated acquisition of a new production facility in Gaoan, China. China Ceramics made a final cash payment of RMB 39 million to a group of investors on 20 January 2010. The Gaoan Facility is now 100% owned by China Ceramics and has started manufacturing finished products.
China Ceramics also announced that it has signed agreements with three new exclusive distributors in Hainan province, Zhejiang province and Anhui province that will begin distributing its products from this point. Including its three newly signed distributors, China Ceramics has a network of 35 exclusive distributors. The company continues to negotiate distribution agreements with additional distributors and large real estate developers in order to increase its penetration of the Chinese market.
China Ceramics is a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings. It produces five different types of ceramics tiles, sold under the ‘HD’ or ‘Hengda’ brand. The company’s products are available in over two thousand style, colour and size combinations and are distributed through a network of exclusive distributors or directly to large property developers.
ENDS