ANHUI, China, Feb. 2, 2010 (GLOBE NEWSWIRE) -- China Runji Cement Inc. (OTCBB:CRJI) ("CRJI" or "the Company"), a leading producer and distributor of cement in Anhui Province of China, today announced that its electricity cost has reduced RMB 4.5 million, or US$650,000 following the completion of its waste heat power generator since October 25, 2009. The waste heat power generator has reached 84% of its designed capacity as of December 25, 2009.
The power generator is able to recycle the waste heat obtained from the cement production process, and it has produced 9 million kilowatt-hour of electricity to support CRJI’s two cement production line since October 25, 2009.
With a designed capacity of 70-Million kilowatt-hour per year, it has reached 84% of its designed production capacity within 2 months commencing from October 25 to December 25, 2009. Upon full fledge operation, this power generator is able to reduce the electricity cost of CRJ by US$4.6 million and hence increasing profitability. Since completion, it has saved electricity cost totaling RMB 4.5 million, or US$650,000.
"We are very delighted to see the completion of waste heat power generator and endorsement of the Provincial Electric Power Bureau by issuing a certificate of national electricity generation," Mr. Shouren Zhao, CRJI Chairman and CEO, stated. "Being a green practice as well as an attempt of cost control, our low-temperature waste heat power generator is capable of covering 40% of electricity demand of our two existing cement production lines, and it can avoid releasing excessive heat to the environment. We believe that the installation of this power generator has contributed significantly to our leading industry position in the local cement market and will enable us to capture a growing share of an enormous market opportunity."
About China Runji Cement Inc.
Founded in 2003, China Runji Cement, Inc. is one of the leading players in cement production and distribution. In October 2007, the Company became a U.S. public company following the completion of a share exchange with Fitmedia Inc. The Company's certified manufacturing facilities containing cutting-edge technology and advanced equipment and are capable of producing as much as 1 million tons of cement clinker and 1.1 million cement annually. Furthermore, the Company's solid distribution network and customer-oriented services have earned CRJI's products a superior reputation in the local cement market. Headquartered in Anhui Province of China, the Company's markets include major neighboring cities such as Hefei, Nanjing, and Liu'an. For more information on the Company and its products, please visit our website: www.chinarunji.com.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Securities Act of 1933, and the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included herein are 'forward-looking statements'. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.