ShengdaTech, Inc.
("ShengdaTech" or the "Company") (NASDAQ:SDTH) , the
leading manufacturer of nano-precipitated calcium carbonate ("NPCC")
in China, today announced that the Company was named on Forbes Magazine's fifth
annual list of "Asia's 200 Best Under a Billion" for the year 2009.
Forbes Magazine's Asia's 'Best under a Billion' list includes 200 leading Asia-Pacific
companies with strong track records of profitability and growth, modest indebtedness,
and positive future prospects (for details of the selection process, visit http://www.forbes.com/BUB
). ShengdaTech's selection came during a year of what the business magazine
called "unprecedented dislocations in the global economy." The Company
is one of 136 new entrants who seized opportunities arising from the economic
uncertainty and one of only 78 companies in China and Hong Kong to make the
prestigious list.
"It is great honor to have Forbes recognize ShengdaTech's success by placing
the Company on this esteemed list. This acknowledges our commitment to maintaining
our position as the largest NPCC supplier in China," said Mr. Xiangzhi
Chen, president and CEO of ShengdaTech. "Despite the challenging economic
environment, the Company has exhibited robust revenue growth and maintained
a healthy gross margin in our NPCC business with the joint efforts of management
and staff. We expect to continue to implement our aggressive NPCC capacity expansion
strategy to further advance our revenue growth and profitability."
Posted October 26th, 2009
