Two firms ink deal on refractory material supply

China Gengsheng Minerals Inc., a materials technology firm that promotes products that can withstand high temperature, reduce power use and increase productivity in industries like steel and oil, has signed a refractory material supply deal with Jiangsu Sha Steel Group Co. Ltd''s Zhangjiagang-based subsidiary. The contract''s to talvalue is pegged at $1.2 million. According to the contract, Gengsheng will transport refractory materials for re-heat furnaces employed in Sha Steel''s hot rolling mill in Zhangjiagang, Jiangsu. Sha Steel is one of China''s largest non-state-owned steel manufacturers by output. Established in 1975 and located in Zhangjiagang, the company produces an annual capacity of 24 million tonnes of rolled steel products. "I''m grateful with our new supply contract with Sha Steel,?said Shunqing Zhang, chairman and CEO, Gengsheng. "Inventory stocks slid in the last quarters in 2008, but we know many Chinese steel mills are again re-stocking their products, particularly hot rolled steels for infrastructure materials tailored for railroads and highways," he added.Air Jordan XIII 13 Shoes