HARBIN, China, Aug. 19, 2008 (GLOBE NEWSWIRE) -- Chang-On International Inc. (OTCBB:CAON), a Chinese manufacturer of green architectural products made of its innovative SF brand of synthetic resin, announced today that it has chosen to focus a greater portion of its energies and attention on developing its production of formwork for the rapidly growing RMB1.5 Trillion (US$208 Billion) green construction systems in China. Formworks are assembled molds to hold poured concrete that are typically made from steel. Chang-On formwork is composed of recycled plastic and coal ash utilizing its proprietary and patented processes. Because of rising steel consumption, steel formwork has been largely prohibited by the Chinese government, prompting many industry analysts to predict that green and recycled architectural formwork, due to its relatively low cost and extended product life span, will emerge as the industry standard and replace most of the existing formworks.
According to Li Guomin, President of Chang-On, "We are constantly re-evaluating our business operations in order to remain in tune with the latest trends in the industry. Our market research has led us to conclude that there is an extremely high likelihood that the use of green architectural formwork will come to dominate the market place. 2006 marked the first year of China's 11th Five Year Plan, and the Chinese government has placed 'Energy Efficiency' and 'Green Construction' as top priority goals in China's construction industry. This emphasis, along with the cost benefits and functional advantages of our products, should only enhance that trend."
About Chang-On International Inc.:
Chang-On International Inc. (OTCBB:CAON) is a Chinese manufacturer of green architectural products made of its innovative SF brand of synthetic resin. Using patented technologies, the Company is engaged in the manufacturing and sales of green architectural products in the multi-billion dollar building materials market in the People's Republic of China. Through its sole operating subsidiary Harbin Hongbo Environment Protection Material Ltd., the Company utilizes China's abundant supply of recycled plastic and coal waste as its main raw materials. SF resin can be molded into a virtually limitless range of end-use products, including pallets, pipes, tubes and wallboard, and is a superior substitute for PVC, steel, wood and cement. The Chinese government continues to make energy efficiency and green construction top priorities, and Chang-On is well positioned to become a major player in this growing sector. For more information, please visit the company's website at: www.changon.com.
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