Fine Precision Abrasives Launched by China GengSheng Minerals
14 September 2010
China GengSheng Minerals, Inc has launched a fine precision abrasive product. GengSheng a leading China-based high-tech industrial materials manufacturer producing heat resistant, energy efficient materials for a variety of industrial applications, says that the new product has already been won sales from companies in solar-related industries. Current contracts are worth approximately US $500,000 and shipping began in August. This products marks its entry into the abrasives market for the first time.
The company’s fine precision abrasives, made from green silicon carbide ("SiC"), are ultra-fine, high-strength pellets with uniform shape, designed for use in surface polishing and precision slicing of solar panels. China GengSheng’s says that its production capacity is 20,000 metric tons annually.
"The launch of our fine precision abrasives product represents a significant milestone for China GengSheng Minerals, as it expands our reach into important new markets," said Mr. Shunqing Zhang, China GengSheng’s Chairman and Chief Executive Officer, "The initial focus of our sales efforts will be on the solar industry and related sectors, as we believe these markets present the greatest near-term growth potential. In the longer term, we plan to expand our fine precision abrasives product family to include applications in surface polishing, which will address the needs of industries such as semiconductors, electronics and industrial equipment."
"Our strong IP portfolio and concerted R&D effort in fine precision abrasives provide China GengSheng Minerals a significant competitive advantage in an area that we believe presents a tremendous growth opportunity for the Company as the market begins to mature. Fine precision abrasives enjoy higher margins than our core refractories and fracture proppant products, and we are confident in our ability to compete in this sizeable market," Mr. Zhang concluded.
China GengSheng Minerals, Inc. sells its products primarily to the iron-and-steel industry as heat-resistant components for steel-making furnaces, industrial kilns and other high-temperature vessels to guarantee and improve the productivity of those expensive pieces of equipment while reducing their consumption of energy. Founded in 1986 and based in China’s Henan province, GengSheng currently has over 200 customers in the iron, steel, oil, glass, cement, aluminium and chemical businesses located in China and other countries.
GengSheng conducts business through GengSheng International Corporation, a British Virgin Islands company, and its Chinese subsidiaries, which are Henan GengSheng Refractories Co., Ltd., Zhengzhou Duesail Fracture Proppant Co., Ltd., Henan GengSheng Micronized Powder Materials Co., Ltd, Guizhou SouthEast Prefecture Co., Ltd., GengSheng New Materials Co., Ltd, and Henan GengSheng High Temperature Materials Co., Ltd.