China Runji Cement Inc. Retains
CCG Elite
Los Angeles and Anhui, China
March 31, 2008 ¨C China Runji
Cement Inc. (OTC BB: CRJI) (¡°Runji¡± or
¡°the Company¡±), a leading cement manufacturing
and distribution company headquartered
in Anhui Province, in the People¡¯s Republic
of China (¡°PRC¡±), today announced that
it has retained CCG Elite Investor Relations
(¡°CCG Elite¡±) to design and execute its
investor relations campaign.
Established in December 2003, Runji commenced
manufacturing operations in October 2005.
Runji¡¯s product scope includes several
different product lines of cement marketed
under the Runji brand name, including
P.II52.5 P.O42.5, P.O32.5 and P.C32.5
cements. P.II52S is one of Runji¡¯s newer
products and is a high grade, high strength
cement used in large projects such as
large span bridges and beams. The Company¡¯s
products are highly regarded for quality,
durability and strength. The Company has
a well-established and sophisticated quality
control system and has held ISO 9001 quality
system certification since 2006. In the
three months ended November 30, 2007,
Runji generated revenue of $10.3 million
and net income of $1.4 million, up from
revenue of $7.4 million and net income
of $0.1 million in the same period in
2006.
¡°We look forward to working with CCG Elite
to increase visibility in both the financial
media and the investment community as
we seek to raise our profile in China¡¯s
rapidly growing cement industry,¡± said
Mr. Shouren Zhao, the Company¡¯s CEO. ¡°With
key resources, technology and proximity
to some of eastern China¡¯s most dynamic
markets, Runji is well situated to execute
our growth plan and expand business significantly
over the next several years.¡±
Runji currently has one production line
in operation with a daily capacity of
2,500 tons, or one million tons per year.
A second production facility is currently
under construction and is expected to
be completed in October 2008. Furthermore,
Runji is in the preliminary planning stages
to add several more production lines over
the next three years, eventually increasing
annual capacity to 6 million tons.
Total cement production is estimated
at 2.2 billion tons globally per year
with an annual growth rate of roughly
3%. China is currently the largest manufacturer
of cement in the world with 44% of total
production. The country¡¯s high volume
of cement production is chiefly fueled
by its rapid economic expansion - average
economic growth rates of 9% have led to
a growth rate within the cement industry
of 10%. External demand has contributed
to a growth in the cement industry as
well, as developed countries with more
stringent environmental standards have
outsourced production abroad. China¡¯s
cement industry is still highly fragmented
with 5,000 manufacturers with annual revenues
exceeding RMB 5 million ($0.7 million).
Of the 170 cement businesses in Anhui
province, Runji leads 85% of competitors
in output and quality standards. While
currently focused on markets within Anhui
province, the Company plans to leverage
its innovative technology, strong R&D
capabilities and its increasing brand
presence in the cement industry to increase
sales and distribution in neighboring
provinces and cities in Eastern China.
¡°We are excited to be working with such
a promising client in an industry which
is vital to China¡¯s rapid economic development,¡±
said Crocker Coulson, President of CCG
Elite. ¡°Given the Company¡¯s strong management
and plans for growth, Runji presents an
attractive investment opportunity with
the potential to build shareholder value
over the long term.¡±
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 transaction 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 annually. Furthermore, the Company¡¯s
solid distribution network and customer-orientated
services have earned Runji¡¯s products
a superior reputation among its customers.
Headquartered in Anhui Province, the Company
has already set up offices in major cities
such as Hefei, Nanjing, Liu¡¯an and many
other locations. For more information
on the Company and its products, please
visit http://www.chinarunji.com/index.asp.
About CCG Elite
CCG Elite is uniquely positioned to provide
an outsourced, high-level investor relations
solution that combines in-depth understanding
of Asia's corporate culture and economic
scene with a direct pipeline into the
leading funds and broker-dealers in the
United States. CCG Elite is a global,
full-service investor relations agency
with corporate headquarters in Los Angeles,
and offices in New York, Newport Beach,
Dallas, Hong Kong, Beijing and Shanghai.
For further information, contact CCG Elite
or visit the Company's website at http://www.ccgelite.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.