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ShengdaTech, Inc. ("ShengdaTech" or the "Company") (Nasdaq: SDTH), the leading manufacturer of nano-precipitated calcium carbonate ("NPCC") in China, today provided an update on its asphalt program.
The Company has established business relationships with more than ten potential asphalt customers, and recently received favorable test feedback from potential customers on its NPCC product for the large modified-asphalt market. These positive results are due to ShengdaTech's determined efforts over the program. The Company has been developing potential customers and expects to succeed in attaining commercial orders.
Through special surface-modification processes, utilizing the Company's proprietary advanced membrane dispersion technology, co-developed with Tsinghua University, to which the Company owns the intellectual property rights, NPCC's compatibility with asphalt materials has been significantly enhanced. Testing has shown that NPCC improves the heat resistance of the base asphalt as well as enhances other asphalt properties such as spalling resistance, water stability, and wear and tear resistance. NPCC has also lowered the production cost of modified asphalt due to reduced use of SBS, while at the same time maintaining the heat resistance of the SBS-modified asphalt.
Based on relevant data, the total output of modified asphalt in mainland China has reached 2,600,000 metric tons per year in 2009. The market demand for NPCC product from the modified asphalt industry is expected to be more than 100,000 metric tons per year, and the global demand will be far more than 1,000,000 metric tons per year. With the substantial increase in investments into the domestic highways, city construction, and other infrastructure projects, the domestic market demand for modified asphalt is expected to grow significantly.
Mr. Xiangzhi Chen, ShengdaTech's Chairman and CEO, commented, "Currently, we are the only company with an NPCC product application for modified asphalt, and we have made technical breakthroughs to further enhance the properties of modified asphalt. We optimistically expect commercial orders to be initiated over the next few months as our current potential customers have been expanding the testing scale of our NPCC step by step. ShengdaTech will explore applications into other large markets, in addition to the application into modified asphalt."
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release made by ShengdaTech constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the tire industry, changes in composition of tires, the Company's ability to meet the planned expansion schedule for its NPCC capacity, the Company's ability to identify acquisition targets, changes to government regulations, risk associated with operation of the Company's new manufacturing facility, ability to attract new customers, ability to increase its product's applications, ability of its customers to sell products, cost of raw material, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. You are urged to consider these factors care in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
About ShengdaTech, Inc.
ShengdaTech is engaged in the business of manufacturing, marketing, and selling nano-precipitated calcium carbonate (NPCC) products. The Company converts limestone into NPCC using its proprietary and patent-protected technology. ShengdaTech is the only company possessing proprietary NPCC technology in China. NPCC products are increasingly used in tires, paper, paints, building materials, and other chemical products. In addition to its broad customer base in China, the Company currently exports to Singapore, Thailand, Malaysia, India, and Israel.
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