China Direct's Chang Magnesium Subsidiary Receives Multiple Orders for Pure Magnesium Valued at Over $23 Million
18 Juin 2007 - 8:22PM
PR Newswire (US)
Company Sees Continued Strong Demand Throughout 2007 BOCA RATON,
Fla., June 18 /PRNewswire-FirstCall/ -- China Direct, Inc.
(OTC:CHND) (BULLETIN BOARD: CHND) , a company maintaining active,
majority stakes in a diversified portfolio of Chinese companies as
well as offering consulting services for both private and publicly
traded Chinese entities, today announced that its Chang Magnesium
Company, Limited ("Chang Magnesium") subsidiary has received
multiple purchase orders for its pure magnesium valued at over $23
million based on the current price per ton on the world market. The
orders will be shipped at various times throughout the remainder of
2007 via Excel Rise Technologies Company, Limited, a wholly owned
subsidiary of Chang Magnesium. The orders have been received from a
number of different companies including Alcoa Australia Rolled
Products and Canada Aluminum. Chang Magnesium continues to see
strong demand from its current customers as well as new customers
seeking to purchase magnesium from its refinery and distribution
operations. As previously announced, magnesium prices have risen
substantially in 2007 and management at Chang Magnesium believes
the current worldwide demand will continue to increase in the
coming years. Commenting on these new orders, Dr. James Wang,
Chairman and CEO stated, "Our magnesium operations continue to see
robust demand. We will opportunistically support those operations
with China Direct resources in an effort to maximize the growth
potential in this expanding industry." About China Direct, Inc.
China Direct, Inc. maintains active, majority stakes in a
diversified portfolio of Chinese companies operating in multiple
industries. Additionally, the Company provides consulting services
for both private and publicly held Chinese entities. China Direct's
mission is to utilize our unique platform to empower emerging
growth Chinese entities to effectively compete while becoming
recognized as global enterprises. As a direct link to China, our
Company serves as a vehicle to allow investors to participate
directly in the rapid growth of Chinese economy through the success
of our portfolio of partners and clients. For more information
about China Direct, please visit http://www.cdii.net/. Safe Harbor
Statement This news release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward- looking statements are based on current
expectations or beliefs, including, but not limited to, statements
concerning the Company's operations, financial performance and,
condition. For this purpose, statements that are not statements of
historical fact may be deemed to be forward-looking statements. The
Company cautions that these statements by their nature involve
risks and uncertainties, and actual results may differ materially
depending on a variety of important factors, including, but not
limited to, the impact of competitive products, pricing and new
technology; changes in consumer preferences and tastes; and
effectiveness of marketing; changes in laws and regulations;
fluctuations in costs of production, and other factors as those
discussed in the Company's reports filed with the Securities and
Exchange Commission from time to time. In addition, the company
disclaims any obligation to update any forward-looking statements
to reflect events or circumstances after the date hereof.
DATASOURCE: China Direct, Inc. CONTACT: Investors: Alan Sheinwald
of HC International, LLC, +1-914-669-0222, ; or Richard Galterio,
Executive Vice President of China Direct, Inc., +1-877-China-57,
Web site: http://www.cdii.net/
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