China Gengsheng Minerals, Inc. Wins $2.9 Million Refractory Full-Service Contract with Zibo Zhang Steel Co., Ltd. in Sha

China Gengsheng Minerals, Inc. a materials technology company in China with products capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has signed a full-service refractory supply contract with Zibo Zhang Steel Co., Ltd. ("Zhang Steel") in Shandong Province. The value of the contract is estimated to be approximately $2.9 million per year.

The Company provides "full services" to China's steel mills in the form of refractory product installation, testing, maintenance, repair and replacement. Full-service customers contributed approximately 51% of the Company's total sales in 2008, compared with 38.3% in 2007.

"I am pleased to add Zhang Steel as our new full-service customer," said Mr. Shunqing Zhang, Chairman and CEO. "China's crude steel output rose 12% to 45 million tons in March on a sequential basis. This could indicate the economic stimulus package is starting to show effects, as reflected in highway and railroad constructions. As a mid-sized regional player, Zhang Steel stands to benefit from local infrastructure build-out and improvements. Our goal this year is to sign more full-service customers like Zhang Steel."

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