Chang-On International Inc. Sets Up Another Two Distribution Networks in Northeast China
Posted on July 27, 2007 at 16:30 PM EDT
HARBIN, China, July 27 /Xinhua-PRNewswire/ -- Chang-On International Inc. (OTCBulletinBoard:CAON) ("CAON" or "the Company"), a company engaged in comprehensive resources utilization of industrial solid wastes in resources and environment field through its subsidiary, Harbin Hongbo Environment Protection Material Ltd. ("Harbin Hongbo"), announced that Harbin Hongbo has established two representative offices in Changchun and Shenyang, which are the centers of Jilin and Liaoning Provinces respectively, to strengthen its product's promotion in these two mainstream cities. Until now, the company has built up the sales and distribution networks within northeastern China.
The northeastern area is one of the most important Industrial Districts in China. In the recent years, the government has contributed direct investment with supportive policies in this area and industry. In addition, it also passed relative rules and regulations to encourage the use of environment protection materials. All these facts are in favor of Harbin Hongbo and will bring in more business opportunities to the Company. The Company will grasp the opportunity to increase the sales revenue and enlarge the market share.
The Company has received the certification of its major product of SF Composed Materials. With its experience-rich business base in northeastern China, Harbin Hongbo will continue to develop its distributions in other provinces to seek for more opportunities.
Mr. Li Guomin, President of CAON, stated that, "We will equip the production facility to produce the products which would replace medium density fibreboards, steel molding boards, PVC products, and plasticized steel bars. There is a big market in China, so we will set more S&D networks in other provinces with the support of the governments in the future."
About Harbin Hongbo Environment Protection Material Ltd.
Founded in 2004, Harbin Hongbo Environment Protection Material Ltd. is located in the Harbin Economy & Technology Development Zone, Heilongjiang Province, China, with a registered capital of RMB 3 million (or USD 375 thousand) and total assets of nearly RMB 10 million (or USD 1.25 million). It is a joint venture between enterprises from Taiwan, Hong Kong and the domestic company.
Harbin Hongbo focuses its core business in comprehensive resources utilization of industrial solid wastes in the resources and environment field. Its main product is SF synthetic material, a new type of material for environment protection and energy saving, which is abbreviated for synthetic material of plastics and coal ash. And based on the material, the company develops different products, such as board and profiled bar used in well lid, grates for water drainage pools, guarding railings, protective board for slopes, hard shoulders, inner wall cable pipes/tubes, and home renovation, among others.
The company has maintained a partnership with Changchun Applied Chemistry Institute of China Academy of Sciences, which mainly specializes in researches in resources and environment, advanced materials, development of carbon dioxide, corn and rare earth resources, focused development of advanced structure materials, advanced composite materials, and advanced functional materials. Mr. Mo Zhishen, professor of the Institute, acts as the company's R&D leader.
Harbin Hongbo will focus on the development and use of SF synthetic material, especially construction molding boards, and then expand its scale of production, purchase new equipment, and increase output in future developments.
This report contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese, European and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.
The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.
For more information, please contact: Ms. Pan Li Nan Tel: +86-1394-6169-908
Source: Chang-On International Inc.
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