China GengSheng Minerals, Inc. (CHGS) Signs Huge Proppant Deal, Decommissions Existing Manufacturing Facility and Moves to Expand Production in Order to Meet Rising Global Demand
China GengSheng Minerals, www.gengsheng.com – one of China’s top producers of a wide array of advanced industrial materials and highly customized solutions, primarily serving the iron and steel industries with components for high-temperature vessels and the like, reported singing of a definitive agreement with a local Gongyi, Henan Province affiliate today for the production of some 30k metric tons of the Company’s fracture proppants through to the end of the year. This deal boosts the total annual output of fracture proppants a solid 20%, offering prime incentive for the Company to move production to a new site and so the…