China Ceramics Announces Completion of Capacity Expansion of its Hengda Facility
JINJIANG, Fujian Province, China, Aug. 18, 2011 /PRNewswire-Asia/ — China Ceramics Co., Ltd. (NASDAQ Global Market: CCCL, CCCLW, CCCLU) (“China Ceramics” or the “Company”), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced that the Company has completed the expansion of its Hengda facility. The facility is now capable of producing 42 million square meters of ceramic tiles per year, up from 32 million square meters in the second quarter of 2011 and an increase from 28 million square meters as of year-end 2010.
“The completion of capacity expansion at our Hengda facility is a substantial achievement for us and a key element in the execution of the Company’s strategic growth plan. It enables us to capitalize upon the increased demand for our products as well as strengthen our competitive positioning in our industry,” said Mr. Jiadong Huang, CEO of China Ceramics. “The new specialized equipment in Hengda enhances the efficiency of our operations, enabling us to more economically customize our products according to customer specifications and to offer new value-added products that have the potential for higher margins and premium pricing.”
The Company expects that the new capacity at Hengda will ramp-up to full utilization in about three months. The new equipment at Hengda will include new kiln and advanced stone-breaking equipment that will make operations more efficient. China Ceramics’ current total annual production capacity of ceramic tiles is now 52 million square meters, consisting of 42 million square meters from Hengda and 10 million square meters from Hengdali. After the completion of Phase II at Hengdali by the end of 2011, China Ceramics expects to have a total annual production capacity of approximately 72 million square meters of ceramic tiles. This is expected to be composed of 42 million square meters of total capacity from the Hengda facility and 30 million square meters of total capacity from the Hengdali facility.
The expansion at Hengdali will primarily consist of the construction of additional plant facilities, the installation of specialized state-of-the-art equipment and the construction of an administrative building and staff quarters.
About China Ceramics Co., Ltd
China Ceramics Co., Ltd. is a leading manufacturer of ceramic tiles in China. The Company’s ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings. China Ceramics’ products, sold under the “Hengda” or “HD”, “Hengdeli” or “HDL”, the “TOERTO” and “WULIQIAO” brands, and the “Pottery Capital of Tang Dynasty” brands, are available in over 2,000 styles, colors and sizes combinations and are distributed through a network of exclusive distributors or directly to large property developers. For more information, please visit http://www.cceramics.com.
Safe Harbor Statement
Certain of the statements made in this press release are “forward-looking statements“ within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,“ “will,“ “anticipate,“ “assume,“ “should,“ “indicate,“ “would,“ “believe,“ “contemplate,“ “expect,“ “estimate,“ “continue,“ “plan,“ “point to,“ “project,“ “could,“ “intend,“ “target“ and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2010 and otherwise in our SEC reports and filings, including the final prospectus for our offering. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC‘s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
Contact Information: China Ceramics Co., Ltd. CCG Investor Relations Inc. Edmund Hen, Chief Financial Officer David Rudnick, Account Manager Email: email@example.com Email: firstname.lastname@example.org Phone: +1 (646) 626-4172
SOURCE China Ceramics Co., Ltd.