NEW YORK, July 2, 2012 /PRNewswire-Asia/ -- Asia
Carbon Industries, Inc. ("Asia
Carbon", or the "Company") today announced that it has begun
construction of a 3000 KW power plant. Utilizing residual heat
generated from the Company's carbon black manufacturing process,
the plant's 3000 KW capacity will satisfy the Company's electricity
needs for the foreseeable future.
The budget for construction of the facility is approximately
$6.3 million, which will be fully
funded by Company operations. Expected to be operational early in
the fourth quarter of this year, management estimates that the
facility will reduce Asia Carbons' electricity expenses by
approximately $1.3 million
annually.
Ms. Yao Guoyun, Asia Carbon's Chairwoman of the Board and Chief
Executive Officer, commented, "This power plant is an important
step in the Company's long-term expansion plan. The benefits are
financial and environmental. We believe it will not only result in
significant savings to our cost of production, but also reduce the
negative impact on the environment, which we are extremely proud
of."
Ms. Yao went on to say "The facility will also reduce our
reliance on the local electric supply, which can be erratic at
times. This independence will greatly facilitate our ability to
continue the efficient expansion of our production capacity, which
is our overall objective."
About Asia Carbon Industries, Inc.
Asia Carbon Industries Inc. is an emerging, China-based producer of a series of high
quality carbon black products under the brand name "Great Double
Star." The Company was established in 2003 in Shanxi, China's highest coal producing
province. Asia Carbon is one of the
top ten carbon black producers in the province and has established
relationships with a high-profile customer base. The Company went
public in 2010 through a registration statement on Form S-1 which
was declared effective by the SEC on October
26, 2010, and is currently in the process of expanding its
manufacturing capacity to meet the anticipated demand.
Forward-looking statements:
The above news release contains forward-looking statements. The
statements contained in this document that are not statements of
historical fact, including but not limited to, statements
identified by the use of terms such as "anticipate," "appear,"
"believe," "could," "estimate," "expect," "hope," "indicate,"
"intend," "likely," "may," "might," "plan," "potential," "project,"
"seek," "should," "will," "would," and other variations or negative
expressions of these terms, including statements related to
expected market trends and the Company's performance, are all
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve a number of
risks and uncertainties. These statements are based on assumptions
that management believes are reasonable based on currently
available information, and include statements regarding the intent,
belief or current expectations of the Company and its management.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performances, and are
subject to a wide range of external factors, uncertainties,
business risks, and other risks identified in filings made by the
company with the Securities and Exchange Commission. Actual results
may differ materially from those indicated by such forward-looking
statements. The Company expressly disclaims any obligation or
undertaking to update or revise any forward-looking statement
contained herein to reflect any change in the company's
expectations with regard thereto or any change in events,
conditions or circumstances upon which any statement is based
except as required by applicable law and regulations.
Company contact:
Delong Zhou
Asia Carbon Industries, Inc.
Phone +1-917-825-2997
SOURCE Asia Carbon Industries, Inc.