Chang-On International Inc. Looks to Expand Existing Production
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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.
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CONTACT: Chang-On International Inc.
Investor Relations Officer
+86-451-8269010
changoncaon@gmail.com
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