China Sun Group High-Tech Co. (CSGH.OB) Provides Updates on Agreements with Huanyu Sai Er New Energy Technology and Huanyu Power Source.
Yesterday, China Sun Group High-Tech Co. announced that it has signed a contract with Henan Huanyu Sai Er New Energy Technology Co., Ltd., a subsidiary of Henan Huanyu Power Source Co., Ltd., for 470 tons of lithium iron phosphate (LIP). China Sun Group, a vertically integrated supplier of raw materials for rechargeable Lithium-ion batteries in China, will deliver a minimum of 470 tons of LIP to Sai Er New Energy throughout 2011. As outlined in the contract, China Sun will send Sai Er New Energy product research materials and offer technical engineering consultancy services in order to provide the customer…