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[October 2007]
China Gengsheng Minerals Announces Refractories Supply Agreements
China GengSheng Minerals Inc (Gongyi, China), known as CGM, has just announced new supply contracts for its refractory business.
CGM signed a one-year refining ladle refractories maintenance service contract with Heilongjiang Jianlong Steel Limited whose annual output of high quality steel is one million tons.
In addition, the company has signed a supply contract with Shanxi Zhongyu Iron Steel Co Ltd to provide refractory products for its hot blast furnace and a 600-ton mixer furnace. Shanxi is a new steel mill which began operation this year. The contracts are expected to generate RMB 25.1 million in sales (approximately US$3.3 million) over the life of the contracts.
CGM is a mineral-based manufacturer whose products include monolithic refractories, industrial ceramics and fracture proppant.
The monolithic refractories serve as heat resistant protective linings in industrial furnaces and other heavy machinery used in the steel, iron, cement, glass and aluminium industries.
The company’s industrial ceramic products are heat and erosion resistant which are used to house high voltage switches and fuses and to transfer liquids, solids and gases.
Fracture proppant is used in operating oil wells to release trapped oil allowing it to be extracted to the earth's surface. CGM conducts business through Gengsheng International Corp and its Chinese subsidiaries Henan Gengsheng Refractories Co Ltd, ZhengZhou Duesail Fracture Proppant Co Ltd and Henan Gengsheng High-Temperature Materials Co Ltd.
ENDS