China GengSheng Minerals, Inc. (Formerly China Minerals Technologies, Inc.) Announces Name Change
July 31 2007 - 8:47AM
PR Newswire (US)
GONGYI, China, July 31 /Xinhua-PRNewswire-FirstCall/ -- China
Minerals Technologies, Inc. ('CMT') (OTC:CMIT) (BULLETIN BOARD:
CMIT) announces its official name change to 'China GengSheng
Minerals, Inc.' ('CGM' or the 'Company'). The Company has also
changed its symbol on the OTC Bulletin Board to 'CHGS.OB,'
effective as of July 30, 2007. On June 11, 2007, the Company
changed its corporate name from Point Acquisition Corporation to
China Minerals Technologies, Inc. However, the Company subsequently
found that a Delaware manufacturing company uses a similar
corporate name. In order to avoid confusion among its customers and
investors, the Company decided to change its name to China
GengSheng Minerals, Inc. CGM is a mineral based manufacturer whose
products include monolithic refractories, ceramics and fracture
proppant. Monolithic refractories serve as heat resistant
protective linings in industrial furnaces and other heavy machinery
used in the steel, iron, cement, glass and aluminum industries.
Ceramic products are heat and erosion resistant which are used to
house high voltage switches and fuses and to transfer liquids,
solids and gases. Fracture proppant is used in operating oil wells
to release trapped oil allowing it to be extracted to the earth's
surface. CGM conducts business through its Chinese based
subsidiaries Henan Gengsheng Refractories Co., Ltd., Zhengzhou
Duesail Fracture Proppant Co., Ltd. and Henan Gaowen Materials Co.,
Ltd. Forward Looking Statements This release may contain certain
'forward-looking statements" relating to the business of China
GengSheng Minerals, Inc. and its subsidiary companies. These
forward looking statements are often identified by the use of
forward- looking terminology such as "believes, expects" or similar
expressions. Such forward looking statements involve known and
unknown risks and uncertainties that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company's actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website ( http://www.sec.gov/ ). All forward-looking
statements attributable to China GengSheng Minerals, Inc. or to
persons acting on its behalf are expressly qualified in their
entirety by these factors other than as required under the
securities laws. China GengSheng Minerals, Inc. does not assume a
duty to update these forward-looking statements. For more
information, please contact: Mr. Denis Tontodonato Tel:
+1-704-562-0082 DATASOURCE: China GengSheng Minerals, Inc. CONTACT:
Mr. Denis Tontodonato, +1-704-562-0082, for China GengSheng
Minerals
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