ZIBO CITY, China, March 14, 2011 (GLOBE NEWSWIRE) -- China Chemical Corp. (OTCBB:CHCC) ("China Chemical" or the "Company"), a manufacturer of organic chemicals used in a broad spectrum of industrial and consumer goods applications, announced today that the Company's Chairman and CEO, Mr. Lu Feng, has been recognized by the government to showcase his contribution to the economic development of Zhoucun District, one of five districts that comprise the regional municipality of Zibo City. This award is given to those business owners in Zibo City who are the highest tax contributors in their respective districts.
Commenting on the announcement, Mr. Lu said: "I have been part of this company for nearly 20 years, and I am proud to be an integral part of the economic development of Zibo City, and more specifically the district that has supported China Chemical's growth. We look forward to continuing our business relationships and supporting our local government."
About China Chemical Corp.
China Chemical Corp. is a Zibo City, China-based manufacturer of organic chemical compounds used in high-performance plastics, PVC, elastic fibers, paints, tires, insulation, flooring, adhesives, medicines, food processing, ink, and paper. The Company's primary products are Phthalic Anhydride (PA) and Maleic Anhydride (MAH), which have a wide variety of applications in the construction, automotive, aviation, marine, and consumer goods industries. China Chemical currently has the capacity to produce 60,000 tons of MAH and 50,000 tons of PA annually. The Company began site development in October 2010 for a 50,000-ton-capacity 1,4 butanediol (BDO) co-generation plant.
For more information about China Chemical Corp., please visit the Company's website at .
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. For additional information, readers should carefully review reports or documents the Company files periodically with the Securities and Exchange Commission.
CONTACT: Investor Relations: Gary Eelman RedChip Companies, Inc., Ext. 130 Tel: +1-800-733-2447 Email: info@redchip.com Jing Zhang, Chief Representative RedChip Companies Beijing Office Tel: +86 10-8591-0635 Web: http://www.RedChip.com