China Gengsheng Minerals, Inc. Announces Acquisition of Xinyu Abrasives Co., Ltd. (PR Newswire)
yahoo.com     Jun 18, 2008            

Wednesday June 18, 6:52 am ET Purchase of Fused-Alumina Supplier to Strengthen Raw Material Access GONGYI, China, June 18 /Xinhua-PRNewswire-FirstCall/ -- China Gengsheng Minerals, Inc. (OTC Bulletin Board: CHGS - News ; ''Gengsheng'' or ''the Company''), a leading manufacturer in China of industrial materials capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has signed a definitive agreement to acquire 100% of Qiandongnanzhou Xinyu Abrasives Co., Ltd. (''Xinyu''), located in Guizhou province in China, for $857,000 (RMB 6 million) in cash. Xinyu is a medium-sized supplier of raw materials to refractory manufacturers and specializes in brown fused alumina, derived from fusing bauxite to obtain a higher concentration of alumina.... [read full story]                    


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