posted: 30 DAYS 21 HOURS AGO
SHANGHAI, Oct. 26 /PRNewswire-Asia-FirstCall/ -- ShengdaTech, Inc.
("ShengdaTech" or the "Company") (Nasdaq: SDTH), the leading manufacturer of
nano-precipitated calcium carbonate ("NPCC") in China, today announced that
the Company was named on Forbes Magazine's fifth annual list of "Asia's 200
Best Under a Billion" for the year 2009.
Forbes Magazine's Asia's 'Best under a Billion' list includes 200 leading
Asia-Pacific companies with strong track records of profitability and growth,
modest indebtedness, and positive future prospects (for details of the
selection process, visit http://www.forbes.com/BUB ). ShengdaTech's selection
came during a year of what the business magazine called "unprecedented
dislocations in the global economy." The Company is one of 136 new entrants
who seized opportunities arising from the economic uncertainty and one of only
78 companies in China and Hong Kong to make the prestigious list.
"It is great honor to have Forbes recognize ShengdaTech's success by
placing the Company on this esteemed list. This acknowledges our commitment to
maintaining our position as the largest NPCC supplier in China," said Mr.
Xiangzhi Chen, president and CEO of ShengdaTech. "Despite the challenging
economic environment, the Company has exhibited robust revenue growth and
maintained a healthy gross margin in our NPCC business with the joint efforts
of management and staff. We expect to continue to implement our aggressive
NPCC capacity expansion strategy to further advance our revenue growth and
profitability."
About ShengdaTech, Inc.
ShengdaTech is engaged in the business of manufacturing, marketing and
selling nano-precipitated calcium carbonate ("NPCC") products. The Company
converts limestone into NPCC using its proprietary and patent-protected
technology. ShengdaTech is the only company possessing proprietary NPCC
technology in China. In addition to its broad customer base in China, the
Company currently exports to Singapore, Thailand, South Korea, Malaysia,
Vietnam, India and Israel. For more information, contact CCG Investor
Relations directly or go to ShengdaTech's website at
http://www.shengdatechinc.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act
of 1995: Certain statements in this press release constitute forward-looking
statements for purposes of the safe harbor provisions under The Private
Securities Litigation Reform Act of 1995. These statements include, without
limitation, statements regarding the significance of the Company being named
to Forbes Magazine's list of "Asia's 200 Best Under a Billion" for the year
2009; and predictions and guidance relating to the Company's future financial
performance. We have based these forward-looking statements largely on our
current expectations and projections about future events and financial trends
that we believe may affect our financial condition, results of operations,
business strategy and financial needs but they involve risks and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements, which may include, but are not limited to, such
factors as unanticipated changes in product demand especially in the tire
industry, changes in composition of tires, the Company's ability to meet the
planned expansion schedule for its NPCC capacity, the Company's ability to
identify acquisition targets, changes to government regulations, risk
associated with operation of the Company's new manufacturing facility, ability
to attract new customers, ability to increase its product's applications,
ability of its customers to sell products, cost of raw material, downturns in
the Chinese economy, and other information detailed from time to time in the
Company's filings and future filings with the United States Securities and
Exchange Commission. You are urged to consider these factors care in
evaluating the forward-looking statements herein and are cautioned not to
place undue reliance on such forward-looking statements, which are qualified
in their entirety by this cautionary statement. The forward-looking
statements made herein speak only as of the date of this press release and the
Company undertakes no duty to update any forward-looking statement to conform
the statement to actual results or changes in the company's expectations.
For more information, please contact:
Andrew Chen, Chief Financial Officer
ShengdaTech, Inc.
Tel: +86-21-5835-8738
Email: andrew.chen@shengdatech.com
Web: http://www.shengdatechinc.com
Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE ShengdaTech, Inc.