China Gengsheng Minerals, Inc. (CHGS.OB) Renews Full Service Contract with Two Companies
Today, high tech industrial materials products company, China Gengsheng Minerals, Inc. announced that it has renewed a full-service refractory contract and regenerative bricks contract with Shandong Iron and Steel Group, Rizhao Subsidiary. The full-service contract will begin on December 1st, 2009 and last to November 10th, 2010; the regenerative bricks contract lasts for 18 months. The combined value of the two contracts is estimated at approximately $9.0 million. Payments will be made on a monthly basis in accordance with the production schedules. Gengsheng, with products capable of withstanding high temperatures, saving energy and boosting productivity in steel and oil industries,…