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Industrial Materials: GengSheng Wins $2.1 Million Contract

August 25, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — China GengSheng Minerals, Inc. (AMEX: CHGS), an industrial materials manufacturer producing heat resistant materials for a range of applications, said that it has secured a $2.1 million contract for its fracture proppant products with AMSAT International, a Florida-based technology company specializing in advanced ceramics. Proppants are suspended particles in a fracturing process used to hold the fractures open, allowing fluids to pass. Fracturing has seen a widespread increase in use in the gas business.

According to the company, product shipments under this contact are scheduled to begin during the third quarter of 2010 and continue through the end of the year.

Shunqing Zhang, China GengSheng's CEO, said, "While refractories still represent the majority of our business, this contract award speaks to the quality of our fracture proppant products that are increasingly gaining awareness as an international product in its niche market."

China-based China GengSheng Minerals develops, manufactures and markets a range of industrial material products, including monolithic refractories, industrial ceramics and fracture proppants.

The firm 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.

GengSheng currently has over 200 customers in the iron, steel, oil, glass, cement, aluminum and chemical businesses located in China and other countries.

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