China XD Plastics Obtains Eight Additional New Product Certifications during the Third Quarter 2009
September 24 2009 - 8:00AM
PR Newswire (US)
Eight Product Certifications for newly launched products were
granted by the FAW Group Corporation HARBIN, China, Sept. 24
/PRNewswire-Asia-FirstCall/ -- China XD Plastics Company Ltd.
("China XD Plastics" or the "Company"), (OTC: CXDC) (BULLETIN
BOARD: CXDC) , the largest Chinese manufacturer in the development,
manufacture, and distribution of modified plastics primarily for
use in the automotive applications in China, today announced that
during the third quarter of 2009 the Company was granted eight
product certifications, including three high-end modified nylon
compounds for its newly launched products by the FAW Group
Corporation, one of the leading automobile manufacturers and
vanguard of automobile industry in China with sales of over one
million units of automobiles for the first seven months of 2009.
The new product certifications received during the third quarter of
2009 are related to new modified plastics applications launched by
the Company for the production of automobile interiors, exteriors
and functional parts which include engine fans, radiator covers,
air filter shell and other products for automobiles. The eight
product certifications, including three modified nylon products,
are specific to the FAW Group Corporation's popular mid-level and
luxury passenger sedan models in China including Audi, VW Sagitar
and Besturn, and are considered high margin products. The new
products are expected to replace high-cost imported plastic
modified products used in automotive applications. "We have been
actively investing in research and development for new modified
plastics used in automobile applications, and obtaining new product
certifications such as these creates high barriers to entry in our
industry. During the first nine months of 2009, we have achieved
consistent and impressive results by increasing our product
certifications from 117 to a total of 137 certifications," said Mr.
Jie Han, the Chairman and CEO of China XD Plastics, "Our new,
competitively priced and customized products aim to replace
modified plastics for automobile applications traditionally
imported from Germany and Japan. We expect to continue our efforts
in new product development and maintain our leadership position
among Chinese competitors as the company with the largest number of
certifications for modified plastics for automotive applications."
About China XD Plastics Company Ltd. China XD Plastics Company
Ltd., through its wholly owned subsidiary Harbin Xinda
Macromolecule Material ("Xinda"), develops, manufactures, and
distributes modified plastics, primarily for automotive
applications. The Company's specialized plastics are used in the
exterior and interior trim and in the functional components of more
than 30 automobile brands manufactured in China including Audi, Red
Flag, Volkswagen and Mazda. The Company's wholly- owned research
institute is dedicated to the researching and development of
modified plastics and benefits from the cooperation with well-known
scientists from leading universities in China. Currently, 137
products that Xinda manufactured have been certified for use by one
or more of the automobile manufacturers in China. For more
information please visit http://www.chinaxd.net/ . Safe Harbor
Statement This announcement contains forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact in this announcement are
forward-looking statements, including but not limited to, the
Company's ability to increase the number of certifications; the
Company's ability to introduce new product applications for
automobiles; the effectiveness, profitability, and the
marketability of its products; the Company's ability to
successfully expand its production capacity; the company's ability
to protect its proprietary information; general economic and
business conditions; the volatility of the company's operating
results and financial condition; the company's ability to attract
or retain qualified senior management personnel and research and
development staff; and other risks detailed in the company's
filings with the Securities and Exchange Commission and available
on its website at http://www.sec.gov/ . These forward- looking
statements involve known and unknown risks and uncertainties and
are based on current expectations, assumptions, estimates and
projections about the companies and the industry. The company
undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes
in its expectations, except as may be required by law. Although the
company believes that the expectations expressed in these forward
looking statements are reasonable, they cannot assure you that
their expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results. For more information, please contact: China XD
Plastics Company Ltd. Mr. Taylor Zhang, CFO Phone: +1-212-747-1118
(New York) Mr. Allan Lao, IR Director Tel: +86-451-8434-6600
(China) Email: CCG Investor Relations Inc. Mr. Crocker Coulson,
President Tel: +1-646-213-1915 (New York) Mr. Ed Job, CFA Tel:
+1-646-213-1914 (New York) Email: Web: http://www.ccgirasia.com/
DATASOURCE: China XD Plastics Company Ltd. CONTACT: China XD
Plastics Company Ltd., Mr. Taylor Zhang, CFO, +1-212- 747-1118 (New
York); Or Mr. Allan Lao, IR Director, +86-451-8434-6600 (China), or
; Or CCG Investor Relations Inc., Mr. Crocker Coulson, President,
+1-646-213-1915 (New York); Or Mr. Ed Job, CFA, +1-646-213-1914
(New York), or Web site: http://www.chinaxd.net/
http://www.ccgirasia.com/
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