ZIBO CITY, China, Jan. 12, 2011 (GLOBE NEWSWIRE) -- China Chemical Corp. (OTCBB:CHCC) (OTCQB:CHCC) ("China Chemical" or the "Company"), a manufacturer of organic chemicals used in a broad spectrum of industrial and consumer goods applications, announced today that its common stock was approved for quotation and has commenced trading on the OTC Bulletin Board. China Chemical's shares are also quoted on the OTCQB, a newly created marketplace of companies that are registered and reporting to the SEC. The Company also filed for a listing on the NASDAQ Capital Market on November 10, 2010.
Commenting on the announcement, Mr. Lu Feng, Chairman and CEO of China Chemical, said, "We are pleased to begin trading on the OTCBB, which was our initial intent upon going public. We are committed to maintaining our full compliance with SEC reporting requirements and believe that the dual quotation will allow us to reach a larger class of investors."
About China Chemical Corp.
China Chemical Corp. is a Zibo City, China-based manufacturer of organic chemical compounds used in high-performance plastics, PVC, elastic fibers, paints, tires, insulation, flooring, adhesives, medicines, food processing, ink, and paper. The Company's primary products are Phthalic Anhydride (PA) and Maleic Anhydride (MAH), which have a wide variety of applications in the construction, automotive, aviation, marine, and consumer goods industries. China Chemical currently has the capacity to produce 60,000 tons of MAH and 50,000 tons of PA annually. The Company began site development in October 2010 for a 50,000-ton-capacity 1,4 butanediol (BDO) co-generation plant.
For more information about China Chemical Corp., please visit the Company's website at http://www.chinachemicalcorp.com.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. For additional information, readers should carefully review reports or documents the Company files periodically with the Securities and Exchange Commission.