Asia Carbon Industries, Inc. Secures DTC Eligibility For Its Common Stock
February 14 2011 - 11:45AM
Marketwired
Asia Carbon Industries, Inc. ("Asia Carbon") today announced that
the Company's common stock (OTCBB: ACRB) has been granted
eligibility status by the Depository Trust Company (DTC).
The Depository Trust Company is a member of the U.S. Federal
Reserve System and a registered clearing agency with the Securities
and Exchange Commission. It was established to provide a safe and
efficient way for buyers and sellers of securities to execute and
settle transactions.
Essentially, DTC provides for the centralized custody of
securities so that they exist only as electronic files rather than
as physical certificates. This process provides banks, brokerage
firms and other institutions with an efficient means of moving
securities and settling trades electronically.
Yao Guoyun, Chairman of the Board of the Company, stated,
"Becoming DTC eligible is a major milestone for the Company and an
important step in increasing our exposure in the investment
community. Securities that are not DTC eligible are often not
accepted for trading at many institutions due to the amount of
paperwork and manpower required to place and execute trades, thus
making it very difficult for a stock to being traded on a daily
basis."
Ms Yao continued, "Becoming DTC eligible resolves these issues
and is a crucial step in increasing our exposure and attracting new
investors to our company."
About Asia Carbon Industries, Inc. Asia
Carbon Industries Inc. ("ACI" or the "Company") is an emerging,
China-based producer of a series of high quality carbon black
products under the brand name "Great Double Star." The Company was
established in 2003 in Shanxi, China's highest coal producing
province. ACI is one of the top ten carbon black producers in the
province and has established relationships with a high-profile
customer base. The Company is in the process of expanding its
manufacturing capacity to meet the anticipated demand.
This release shall not constitute an offer to sell or the
solicitation of an offer to buy. There shall be no sale of these
securities in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such State.
Company contact: Mark Lubchenco Asia Carbon Industries, Inc.
Phone +1-646-328-1502
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