China Gengsheng Minerals Recieves $1.56 Million Of Contracts
March 23, 2010 (FinancialWire) — China Gengsheng Minerals, Inc. (AMEX: CHGS), an industrial materials company in China, said it has entered two new sales contracts totaling around $1.56 million for refractory products with two new customers.
The company has signed two separate contracts for its refractory products with the two new customers, Shandong Resource Development company and Xin Jiang Red Star company, respectively.
According to China Gensheng, the contract with Shandong Resource Development is expected to generate revenues of $0.68 million, while the contract with Xin Jiang Red Star company is expected to generate revenues of $0.88 million.
China-based China Gengsheng Minerals develops, manufactures and markets a broad range of high-tech industrial material products, including monolithic refractories, industrial ceramics and fracture proppants.
Gengsheng 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.
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