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China Gengsheng Minerals Wins $1 Million North American Order

February 17, 2009 (FinancialWire) -- China Gengsheng Minerals, Inc. (OTCBB: CHGS) said that it has signed fracture proppant supply contracts worth a total value of $1 million with a distributor to supply oil fields in North America.

Deliveries under the contract will be fulfilled by April 2009, according to China Gengsheng.

Fracture proppants are light, bauxite-based, grain-like materials that have a round and smooth surface and a quality of resisting high pressure and acid corrosion. They are used by oil and gas drillers to extract pockets of oil and natural gas scattered underground.

Gengsheng said it initially signed proppant contracts with a total value of $3.54 million with the same North American-based distributor in late 2008. The company has shipped around $2.2 million of the materials to date.

The company said it is expecting to double the production capacity of its fracture proppant business from 30,000 tons per year to 60,000 tons per year in the city of Gongyi, Henan Province. The expansion will add new equipment to the existing facilities and the new capacity is expected to start commercial operations by April 2009.

Gongyi, China-based China Gengsheng Minerals develops, manufactures and markets a range of high-tech industrial material products, including monolithic refractories, industrial ceramics and fracture proppants. Gengsheng said it has over 200 customers in the iron, steel, oil, glass, cement, aluminum and chemical businesses located in China and in eleven other countries.

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