ShengdaTech, Inc., a manufacturer of nano precipitated calcium carbonate ("NPCC"), today announced that Frost + Sullivan, a well-known global consulting company, honored ShengdaTech with the 2008 "China Frost + Sullivan Award for Growth Excellence."
Frost & Sullivan Award for Growth Excellence recognizes companies in regional and global markets for demonstrating excellence in growth leadership. Leadership in growth is measured in the form of gains in market share or through geographical and customer-base expansions. As the recipient of this Award, ShengdaTech was recognized for consistently outperforming its competition by effectively combining progressive marketing strategies with innovative new products, all of which have had significant industry impact. During the past 18 months, ShengdaTech has developed new NPCC applications used in the production of automobile undercoating paints, polyethylene, color ink jet paper, and is currently developing breakthrough applications for asphalt, high-grade ink jet paper, and epoxy resin.
"ShengdaTech has achieved major manufacturing breakthroughs with the application of its intellectual property, which includes their patented membrane dispersion technology, a key driver in expanding the range of customer applications of NPCC products, especially in the areas of rubber and plastics. By using NPCC in lieu of traditional fillers, ShengdaTech's customers achieve significant cost savings, while attaining superior functionality of their end products," commented Nina Zhou, China Consultant of Frost & Sullivan. "Due to its leadership in innovation, superior customer service, and the successful execution of its NPCC expansion strategy, ShengdaTech has emerged as the largest NPCC supplier in China. The Company achieved a compound annual revenue growth rate of 78.0% from 2005 through 2008, well above the industry growth rate of 30.9% over the same period."
Commenting on the award, Mr. Xiangzhi Chen, President and CEO of ShengdaTech, noted, "We are pleased to earn such a prestigious honor, which confirms our leading position in the NPCC industry. We expect to sustain our leadership in growth by continuing to expand our NPCC business both in China and internationally. We will increase our production capacity from the current 190,000 metric tons to 250,000 metric tons in August of 2009 with aggressive expansion plans in place for the out years. Furthermore, we are committed to remaining on the leading edge of product innovation by pioneering new end markets for NPCC."