HARBIN, China, July 8, 2016 /PRNewswire/ -- China XD Plastics
Company Limited (NASDAQ: CXDC, "China XD Plastics" or the
"Company"), one of China's leading
specialty chemical companies engaged in the development,
manufacture and sale of polymer composite materials primarily for
automotive applications, today announces that it held a
commissioning ceremony on July 7,
2016 at its new Sichuan
manufacturing facility.
"We are grateful for the tremendous support from the Nanchong
municipal and Shunqing district authorities as our new production
facility in Sichuan Province was
completed in a little over a year since the company broke ground,"
said Jie Han, Chairman of the Board
of Directors and Chief Executive Officer. "The commissioning
ceremony featured our new, high-tech facility which is fully
automated, and plant tours showcased the culmination of the
cooperative efforts between our project development team and
officials in the region and many partners who understand the
evolution of China's Southwest
region into a major high-tech and transportation manufacturing
center to include automobiles, high-speed rail, shipping and
aviation. With over 700 participants, we were able to showcase how
our Sichuan campus will diversify
our product platform into additional high-growth verticals such as
advanced transportation, bio-degradable materials, medical-grade
materials and food packaging."
"Our plant has been designed at the highest production
specifications with state-of-the-art equipment to facilitate
product deployment into new growth verticals while maintaining the
highest standards in quality control and batch consistency,"
continued Mr. Han. "The new facility extends our geographical reach
beyond our established Harbin base
and new facilities in Dubai."
"The Sichuan plant will
solidify our company leadership position with effective market
coverage and penetration. It was evident at the commissioning
ceremony that our commitment to quality, new technologies and loyal
customers has enabled us to achieve another corporate milestone,"
concluded Mr. Han.
It is expected that extensive local and major Chinese media will
be reporting on the event.
About China XD Plastics Company Limited
China XD Plastics Company Limited, through its wholly-owned
subsidiaries, develops, manufactures and sells polymer composites
materials, primarily for automotive applications. The Company's
products are used in the exterior and interior trim and in the
functional components of 28 automobile brands manufactured in
China, including without
limitation, Audi, Mercedes Benz,
BMW, Buick, Chevrolet, VW Passat, Golf and Jetta, Mazda, and
Toyota. The Company's wholly-owned research center is dedicated to
the research and development of polymer composites materials and
benefits from its cooperation with well-known scientists from
prestigious universities in China.
As of March 31, 2016, 369 of the
Company's products have been certified for use by one or more of
the automobile manufacturers in China. For more information, please visit the
Company's English website at http://www.chinaxd.net, and the
Chinese website at http://www.xdholding.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements, including but not limited to, the Company's growth
potential in international markets; the effectiveness and
profitability of the Company's product diversification strategy;
the impact of the Company's product mix shift to more advanced
products and related pricing policies; the volatility of the
Company's operating results and financial condition; the Company's
ability to raise additional capital to finance the Company's
activities; the Company's and its subsidiaries' ability to fully
perform all of their obligations under the guaranteed senior notes
transaction and other contractual obligations applicable to them;
the effectiveness, profitability, and the marketability of its the
ongoing mix shift to more advanced products; the prospect of the
Company's Dubai facility, and the
associated expansion into Middle
East, Europe and other
parts of Asia; the prospect of the
Company's Southwest China
facility, and its penetration into Southwest China; the impact of volatile crude
oil prices on the Company's efforts to diversify its product
offers; market for plastic resins; legal and regulatory risks; the
Company's projections of its revenues for performance in fiscal in
2016; the Company's ability to execute its growth strategy and the
effectiveness of its marketing strategy; the future trading of the
common stock of the Company; the Company's ability to operate as a
public company; the period of time for which its current liquidity
will enable the Company to fund its operations; general economic
and business conditions; the volatility of the Company's operating
results and financial condition; the Company's ability to attract
or retain qualified senior management personnel and research and
development staff; and other risks detailed in the Company's
filings with the Securities and Exchange Commission and available
on its website at http://www.sec.gov. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on current expectations, assumptions, estimates and
projections about the Company and the industry. The Company
undertakes no obligation to update forward-looking statements to
reflect subsequent occurring events or circumstances, or to changes
in its expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these forward
looking statements are reasonable, it cannot assure you that its
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
Contacts:
China XD Plastics
Mr. Taylor Zhang, CFO (New York)
Phone: +1 (212) 747-1118
Email: cxdc@chinaxd.net
Investor Relations: Grayling Communications Inc.
Ms. Vivian Chen, Managing
Director
US: +1 (347) 481-3711
Email: Vivian.chen@grayling.com
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SOURCE China XD Plastics Company Limited