GONGYI, China, June 23, 2011 /PRNewswire-Asia-FirstCall/ -- China GengSheng Minerals, Inc. (AMEX: CHGS), a leading China-based high-tech industrial materials manufacturer producing heat resistant, energy efficient materials for a variety of industrial applications, today announced that it has signed a five-year strategic partnership agreement with a U.S.-based strategic advisory, marketing and technology company for the marketing and distribution of its fracture proppant products in the North American market.
Under the agreement, the parties will collaborate on the development of the fracture proppant market in North America, through the establishment of a jointly-owned brand that will be marketed to North American oil & gas producers, further increasing the GengSheng's international market share. GengSheng will ship 4,000 metric tons of proppant products per month, beginning in July 2011, with volume increasing on a bi-monthly basis. Volume shipments are expected to reach at least 8,000 metric tons per month by October 2011.
This should be a big catalyst. The stock is in the ((( huge buy))) category for me. When it does turn is going to rovket. The stock has every going for it right now. The market is deffinatly wrong on this one. THE GAS sector is finding gas where they never thought they would . OLD wells are comiing back to life and new contracts are being made with China GengSheng Minerals.