NEW YORK, July 3, 2013 /PRNewswire/ -- Asia Carbon Industries, Inc. ("Asia Carbon", or the "Company") whose shares trade in the U.S. on the OTCQB Tier of the OTC Markets under the stock symbol "ACRB", today announced the completion of its specialty carbon black production facility.
Asia Carbon's Chairwoman of the Board and Chief Executive Officer, Ms. Guoyun Yao commented, "We are very pleased to announce the completion of the construction of specialty carbon black production facility. This represents an important step in our company's strategic plan. This new production facility will increase the company's sales revenue and improve the overall comprehensive benefit in the future. Also it will help the company better expand the market, develop new area and improve its competitiveness."
Ms. Yao went on to say, "In order to facilitate the production and to meet the market demand for the product, our Chief Engineer and other technical personnel participated in the '2013 the Third Masterbatch and Multifunction Masterbatch Processing and Application Technical Seminar' held in Shaoxing, Zhejiang province from June 24 to June 27 this year. The key topics of the seminar included the domestic and international pigment technology status and development direction, masterbatch's demand for carbon black pigment and index requirements, etc. We connected with participating experts and relevant companies. We will actively explore new technologies and develop new products to expand our business space so as to lay the foundation for the company's long-term development."
While the production capacity of specialty carbon black production line is about one half of the production capacity of the traditional carbon black production line, the specialty carbon black commands prices ranging upwards of $2,400 per ton while traditional carbon black is typically sold for less than $1,000 per ton.
About Asia Carbon Industries, Inc.
Asia Carbon Industries Inc. is an emerging, China-based producer of a series of high quality carbon black products under the brand name "Great Double Star." The Company was established in 2003 in Shanxi, China's highest coal producing province. Asia Carbon is one of the top ten carbon black producers in the province and has established relationships with a high-profile customer base. The Company went public in 2010 through a registration statement on Form S-1 which was declared effective by the SEC on October 26, 2010, and is currently in the process of expanding its manufacturing capacity to meet the anticipated demand.
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
Asia Carbon Industries, Inc.
SOURCE Asia Carbon Industries, Inc.