CDII CD International Enterprises and Manali Engineering-India Complete Magnesium Distribution Agreement
DEERFIELD BEACH, Florida, November 5, 2013 /PRNewswire/ --
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Manali Engineering-India (a division of Manali Group) to serve as sales agent for IMG magnesium products in India
CD International Enterprises, Inc. ("CD International") (OTCQB:CDII), a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services, today announced that its International Magnesium Group subsidiary ("IMG") has entered into a five year distribution agreement with Manali Engineering - India ("Manali Engineering"), a division of Manali Group, for sales of its magnesium products in India.
Under the terms of the agreement, Manali Engineering will serve as a sales agent in India for IMG's magnesium products. With demand for magnesium products exceeding 10,000 metric tons annually and with expectations of continued economic expansion, India represents a strong potential growth market for magnesium products. Currently, the majority of demand for magnesium in India is for pure magnesium ingots and magnesium granules. CD International sees this agreement as a substantial expansion opportunity for IMG due to Manali Engineering's strong footprint in the industrial marketplace in India. Manali Engineering is headquartered in Gurgaon (Haryana), India with branch offices in Stockholm, Sweden and Miami, Florida.
Commenting on the announcement, Dr. James Wang, Chairman and CEO of CD International, stated, "We look forward to a successful partnership with Manali Engineering as we expand our magnesium distribution channels to India. India represents a major potential growth market for magnesium, especially in its rapidly expanding automobile industry. We intend to work diligently to support Manali Engineering in their efforts to help us achieve significant sales growth at IMG in fiscal 2014 and beyond."
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTCQB: CDII), is a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, CD International's unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about CD International, please visit http://www.cdii.net.
About Manali Group of Industries
Manali Group of Industries is one of the leading Heavy Engineering Equipment Manufacturers set up decades ago to meet the ever growing and exacting needs of the industrial core sector. During the course of our operation we have been associated with almost every major sector that have been set up in the field of Power, Oil, Steel, Mining, Railways, Cement, Sugar, Defense, Petrochemicals and Construction Industry.
Manali Group has different manufacturing units in India, and about 25 are the approved sub - contractors units have a total strength of 5500 work force backed by 1350 Nos most modern sophisticated, versatile machine tools. We acquired a prestigious position in Indian Heavy Industries as an Equipment Builder, Technology Supplier and Turnkey Contractor of large Projects. With over 22 years of engineering experience, technical know-how coupled with modernly designed manufacturing facilities. For more information about Manali Group, please visit http://www.manaligroup.com/, http://www.manaliengineering.com/
DISCLOSURE NOTICE:
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, CD International Enterprises, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2012.
Contact:
Richard Galterio
Phone: 1-954-363-7333 Ext. 316
Email: richard.galterio@cdii.net
SOURCE CD International Enterprises, Inc
Copyright 2013 PR Newswire
DEERFIELD BEACH, Florida, November 5, 2013 /PRNewswire/ --
?
Manali Engineering-India (a division of Manali Group) to serve as sales agent for IMG magnesium products in India
CD International Enterprises, Inc. ("CD International") (OTCQB:CDII), a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services, today announced that its International Magnesium Group subsidiary ("IMG") has entered into a five year distribution agreement with Manali Engineering - India ("Manali Engineering"), a division of Manali Group, for sales of its magnesium products in India.
Under the terms of the agreement, Manali Engineering will serve as a sales agent in India for IMG's magnesium products. With demand for magnesium products exceeding 10,000 metric tons annually and with expectations of continued economic expansion, India represents a strong potential growth market for magnesium products. Currently, the majority of demand for magnesium in India is for pure magnesium ingots and magnesium granules. CD International sees this agreement as a substantial expansion opportunity for IMG due to Manali Engineering's strong footprint in the industrial marketplace in India. Manali Engineering is headquartered in Gurgaon (Haryana), India with branch offices in Stockholm, Sweden and Miami, Florida.
Commenting on the announcement, Dr. James Wang, Chairman and CEO of CD International, stated, "We look forward to a successful partnership with Manali Engineering as we expand our magnesium distribution channels to India. India represents a major potential growth market for magnesium, especially in its rapidly expanding automobile industry. We intend to work diligently to support Manali Engineering in their efforts to help us achieve significant sales growth at IMG in fiscal 2014 and beyond."
About CD International Enterprises, Inc.
CD International Enterprises, Inc. (OTCQB: CDII), is a U.S. based company that produces, sources, and distributes industrial commodities in China and the Americas and provides business and financial corporate consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, CD International's unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about CD International, please visit http://www.cdii.net.
About Manali Group of Industries
Manali Group of Industries is one of the leading Heavy Engineering Equipment Manufacturers set up decades ago to meet the ever growing and exacting needs of the industrial core sector. During the course of our operation we have been associated with almost every major sector that have been set up in the field of Power, Oil, Steel, Mining, Railways, Cement, Sugar, Defense, Petrochemicals and Construction Industry.
Manali Group has different manufacturing units in India, and about 25 are the approved sub - contractors units have a total strength of 5500 work force backed by 1350 Nos most modern sophisticated, versatile machine tools. We acquired a prestigious position in Indian Heavy Industries as an Equipment Builder, Technology Supplier and Turnkey Contractor of large Projects. With over 22 years of engineering experience, technical know-how coupled with modernly designed manufacturing facilities. For more information about Manali Group, please visit http://www.manaligroup.com/, http://www.manaliengineering.com/
DISCLOSURE NOTICE:
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, CD International Enterprises, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2012.
Contact:
Richard Galterio
Phone: 1-954-363-7333 Ext. 316
Email: richard.galterio@cdii.net
SOURCE CD International Enterprises, Inc
Copyright 2013 PR Newswire
