JINJIANG, China, Jan. 6, 2016 /PRNewswire/ -- China Ceramics Co., Ltd. (NASDAQ Global Market: CCCL) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced that it has completed a new production line to manufacture glazed brick ceramic tiles in its Hengdali facility in Gaoan, Jiangxi Province, China.
"We are excited about the addition of glazed brick ceramic tiles to our product portfolio as it is engineered to be a highly effective and customized roofing solution for both high-rise apartment buildings and housing projects. Further, it complements our existing ceramic tile building products and provides a competitively-priced solution for property developers," said Mr. Jiadong Huang, Chief Executive Officer of China Ceramics. "Once in production, we believe that this new product will be one of the highest quality roofing bricks available in the building materials market and we are pleased that it further broadens our already extensive product line."
The new production line is optimized to manufacture customized size ranges of glazed brick ceramic tiles in a manner that maximizes production efficiency and output. It also increases the Company's total number of production lines from sixteen to seventeen. The new production line will undergo extensive testing procedures in the current quarter and full production is expected to begin in the second quarter of 2016.
Although there are currently some pre-orders for glazed brick ceramic tiles, we do not expect sales to ramp until the second quarter of 2016. We have incurred capital expenditures of RMB 93.0 million (US$ 14.6 million) to date in connection with the new production line, although additional expenditures are possible prior to the production line being fully operational. The new glazed brick ceramic tiles will be sold alongside our existing ceramic tile products to property developers on a direct basis and by our network of distributors throughout China.
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC real estate and construction sectors continuing to exhibit sound long-term fundamentals, our ability to bring additional capacity online going forward as our business improves, our customers continuing to adjust to our product price increases, our ability to sustain our average selling price increases and to continue to build volume in the quarters ahead, and whether our enhanced marketing efforts will help to produce wider customer acceptance of the new price points. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2014 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
About China Ceramics Co., Ltd.
China Ceramics Co., Ltd. is a leading manufacturer of ceramic tiles in China. The Company's ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics' products, sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the "TOERTO" and "WULIQIAO" brands, and the "Pottery Capital of Tang Dynasty" brands, are available in over 2,000 style, color and size combinations and are distributed through a network of exclusive distributors as well as directly to large property developers. For more information, please visit http://www.cceramics.com.
China Ceramics Co., Ltd.
Edmund Hen, Chief Financial Officer
Precept Investor Relations LLC
David Rudnick, Account Manager
Phone: +1 917-864-8849
SOURCE China Ceramics Co., Ltd.