TAI'AN, China, March 25 /Xinhua-PRNewswire-FirstCall/ -- China RuiTai International Holdings Co., Ltd. (OTC Bulletin Board: CRUI) (''China RuiTai'' or ''the Company''), a leading producer and distributor of cellulose ether products in the People's Republic of China (''PRC''), today announced that it has retained CCG Elite to design and execute its investor relations campaign.
China RuiTai's primary operations are conducted through TaiAn RuiTai Cellulose Co., Ltd. (''TaiAn''), a company organized under the laws of the PRC and 99% owned by China RuiTai's wholly-owned subsidiary, Pacific Capital Group Co., Ltd. TaiAn commenced operations in 1999 and engages in the sale of deeply processed chemicals with a primary focus on non-ionic cellulose ether products. Cellulose ether is an organic chemical that dissolves in water and other organic solvents; it acts as a thickener and stabilizer in aqueous solutions, as well an additive in various commercial industries and products. Based on research from the Freedonia Group, the worldwide market for cellulose ether products is expected to reach $1.0 billion by 2010.
The Company sells its products under twelve major product lines marketed under the brand name ''RuiTai.'' The Company's products are used in various applications, such as a stabilizer and thickener in latex paint, in mortar dry mix for building materials, to improve the performance of resin in PVC production and as a membrane reagent stabilizer and thickener in pharmaceuticals and in other applications in the food and cosmetics industries. In the first half of 2007 the Company generated revenues of $16.6 million and net income of $2.8 million, up 33% and 65%, respectively from the year ago period. China RuiTai has thirty sales offices throughout China. In 2007 the Company exported approximately 2,400 tons of cellulose ether products to foreign markets in the United States, Europe, India, the Middle East, and South East Asia.
''As a prominent supplier to the cellulose ether market in China and the world, we believe China RuiTai is ideally positioned to take advantage of strong demand for cellulose ether products,'' commented Dianmin Ma, Chief Executive Officer and Chairman of China RuiTai. ''We intend to expand our cellulose ether business by building additional capacity, executing an aggressive acquisition strategy and increasing our distribution network throughout China and internationally. We look forward to working with CCG Elite to increase our visibility with investors and the media.''
''Worldwide demand for cellulose ether products continues to grow due to widespread applications in the personal care, food, construction and oilfield industries,'' commented Crocker Coulson, President of CCG Elite. ''We believe China RuiTai offers an attractive opportunity for investors seeking an established leader with strong prospects for growth in domestic and international markets.''
About CCG Elite
CCG Elite is a global, full-service investor relations firm, headquartered in Los Angeles, Calif., with offices in New York City, Newport Beach, Calif., Dallas, Texas, Hong Kong, Beijing, Shanghai and Tel Aviv. CCG Elite is uniquely positioned to provide outsourced, high-level investor relations solutions to its clients, combined with an in-depth understanding of Asia's corporate culture and economic environment, to convey their story to funds and broker-dealers located in the U.S. For further information, contact CCG Elite directly, or visit the Company's Web site at http://www.ccgelite.com .
About China RuiTai International Holdings Co., Ltd.
China Ruitai International Holdings Co., Ltd. (OTC Bulletin Board: CRUI), through its operating subsidiary, is engaged in the production, sales, and exportation of deeply processed chemicals, with a primary focus on non-ionic cellulose ether products. Cellulose ether is an organic chemical that acts as a thickener and dissolves in water and other organic solvents. The Company is one of the largest non-ionic cellulose ether producers in China delivering products for the pharmaceutical, PVC manufacturing, construction industry, the personal care market and oil field exploration and recovery industries. China RuiTai exports to United States, Europe, India, the Middle East, and South East Asia.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995: This press release contains certain "forward-looking
statements," as defined in the United States Private Securities Litigation
Reform Act of 1995, that involve a number of risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and the
actual results and future events could differ materially from management's
current expectations. Such factors include, but are not limited to the
Company's ability to complete product orders, coordinate product design
with its customers, ability to expand and grow its distribution channels,
political and economic factors in the People's Republic of China, the
Company's ability to find attractive acquisition candidates, dependence on
a limited number of larger customers and other factors detailed from time
to time in the Company's filings with the United States Securities and
Exchange Commission and other regulatory authorities. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
For more information, please contact:
CCG Elite Investor Relations
Crocker Coulson, President
|SOURCE China RuiTai International Holdings Co., Ltd.|
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