China Sun Group Names Korea Project Development & Consultation Corp. as its Exclusive Sales Agent in South Korea
September 11 2007 - 11:07AM
PR Newswire (US)
- To Generate Sales of USD $8 Million Per Year - LIAONING PROVINCE,
China, Sept. 11 /PRNewswire-FirstCall/ -- China Sun Group High-Tech
Co. (OTC:CSGH) (BULLETIN BOARD: CSGH) announced today that its
majority-owned subsidiary Dalian Xin Yang High-Tech Development
Co., Ltd. (DLX) has entered into a sales and distribution agreement
with Korea's Project Development & Consultation Co., Ltd.
(PD&C). According to the agreement, PD&C will act as the
exclusive sales agent for DLX's cobaltosic oxide and lithium cobalt
oxide products and expects to generate USD $8 Million or more in
product sales per year. The term of the agreement is two years,
beginning on July 23, 2007. Wang Bin, president of China Sun Group,
stated, "This agreement allows us to further tap into the booming
Chinese economy. The major consuming countries in the global market
are Japan and Korea. However, with the vast improvement of China's
production and technology, many companies are successfully
relocating their production bases to China, including Japan's
Diacelltec, Sanyo, Sony and Panasonic. Korea's LG, Samsung and SK
have also established major procurement centers in China." Bin
added, "South Korea is the third largest producer of lithium ion
batteries in the world and its manufacturers follow rigorous
standards to receive the highest quality of anode materials for use
in lithium ion batteries. Our industry alliance with PD&C
implies that the quality of our product line satisfies advanced
international requirements and will be accepted by the South Korean
producers of the lithium ion battery industry." "As a result of
this relationship, we look forward to increasing our market share
into other international markets including East Asia, Southeast
Asia, Europe and the United States. The potential customers we have
approached and have shown strong interest in our products include:
Tanaka, Honjo, HLST, Sanyo, Sony, Panasonic, Nihonkagakusangyo,
Maxell, LG, Samsung, SK, Hanhua and Light & Future," said Bin.
About China Sun Group High-Tech Co. China Sun Group High-Tech Co.,
formerly known as Capital Resource Funding, produces anode
materials used in lithium ion batteries. Through its majority-
owned operating subsidiary Da Lian Xin Yang High-Tech Development
Co. Ltd ("DLX") the Company primarily produces cobaltosic oxide and
lithium cobalt oxide. According to the China Battery Industry
Association, DLX is the second largest non-governmental
manufacturer of high-tech cobalt series products in Asia. Through
its R&D group, DLX also owns a proprietary series of nanometer
technologies that supply state-of-the-art components for advanced
lithium ion batteries. Leveraging its technological leadership in
China, high-quality product line and scalable production capacity,
DLX plans to create a fully integrated supply chain from the
primary manufacturing of cobalt ore to finished products, including
lithium ion batteries. For more information, visit
http://www.china-sun.cn/English/Aboutus.asp. Safe Harbor Statement
Statements in this press release which are not historical data are
forward-looking statements which involve known and unknown risks,
uncertainties or other factors not under the company's control,
which may cause actual results, performance or achievements of the
company to be materially different from the results, performance or
other expectations implied by these forward-looking statements.
These factors include, but are not limited to, those detailed in
the company's periodic filings with the Securities and Exchange
Commission. http://www.otcfn.com/csgh DATASOURCE: China Sun Group
High-Tech Co. CONTACT: At the Company, Thomas Yang, Assistant to
the President, of China Sun Group High-Tech Co., +1-917-432-9350
(U.S.), or +86 411 8289-7752 (China), or Fax, +86 411 8289-2739, or
; or Investor Relations, Peter Clark of OTC Financial Network,
+1-781-444-6100 ext. 629, or Web site: http://www.china-sun.cn/
http://www.otcfn.com/csgh
http://www.china-sun.cn/English/Aboutus.asp
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