JINJIANG, China, July 26, 2012 /PRNewswire-Asia/ -- China Ceramics
Co., Ltd. (NASDAQ Global Market: CCCL, CCCLW, CCCLU) ("China
Ceramics" or the "Company"), a leading Chinese manufacturer of
ceramic tiles used for exterior siding and for interior flooring
and design in residential and commercial buildings, today announced
an update as to the availability of power for its Hengdali
facility. As of July 10, 2012,
the local power supply authority allocated sufficient power to the
Hengdali facility for utilization of its full productive capacity.
The Company implemented Phase II of its expansion program in the
fourth quarter of 2011 and first quarter of 2012, which increased
the annual production capacity of ceramic tiles at its Hengdali
facility from 10 million square meters to 30 million square meters.
Although the Company has had the requisite power available to it to
operate all of the productive capacity at the Hengdali facility
since July 10, 2012, the Company is
currently utilizing plant facilities capable of producing 14
million square meters of ceramic tiles annually. The current level
of utilization at Hengdali is consistent with the Company's
previously stated plan to bring online additional capacity at the
facility as dictated by market demand.
In terms of its other ceramic tile plant, China Ceramics is
currently utilizing the maximum productive capacity at its Hengda
facility, which has an annual productive capacity of 42 million
square meters of ceramic tiles. Therefore, the Company's
total plant capacity that is currently in use is capable of
producing 56 million square meters of ceramic tiles annually.
"We are pleased that we now have the power supply available to
use the full capacity of our Hengdali plant, and we will continue
to monitor our backlog, expected customer demand and macroeconomic
conditions to determine when to increase the utilization of its
available capacity," said Mr. Jiadong
Huang, CEO of China Ceramics. "Although we continue to see
reasonably sound customer demand, we believe that it is prudent to
operate our business in the most cost effective and efficient
manner possible."
About China Ceramics Co., Ltd
China Ceramics Co., Ltd. is a leading manufacturer of ceramic
tiles in China. The Company's
ceramic tiles are used for exterior siding, interior flooring, and
design in residential and commercial buildings. China Ceramics'
products, sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the
"TOERTO" and "WULIQIAO" brands, and the "Pottery Capital of Tang
Dynasty" brands, are available in over 2,000 style, color and size
combinations and are distributed through a network of exclusive
distributors as well as directly to large property developers. For
more information, please visit http://www.cceramics.com.
Safe Harbor
Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include statements with respect to our
beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and
involve known and unknown risks, uncertainties and other factors,
which may be beyond our control, and which may cause the actual
results, performance, capital, ownership or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements. All statements other than statements of historical fact
are statements that could be forward-looking statements. You can
identify these forward-looking statements through our use of words
such as "may," "will," "anticipate," "assume," "should,"
"indicate," "would," "believe," "contemplate," "expect,"
"estimate," "continue," "plan," "point to," "project," "could,"
"intend," "target" and other similar words and expressions of the
future.
All written or oral forward-looking statements attributable
to us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 20-F for the
year ended December 31, 2011 and
otherwise in our SEC reports and filings, including the final
prospectus for our offering. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
Contact Information:
China Ceramics Co.,
Ltd.
|
CCG Investor Relations
Inc.
|
Edmund Hen, Chief
Financial Officer
|
David Rudnick, Account
Manager
|
Email:
info@cceramics.com
|
Email:
david.rudnick@ccgir.com
|
|
Phone:
+1-646-626-4172
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SOURCE China Ceramics Co., Ltd.