AuraSource Forms Strategic Partnership With Xinxing Cathay International Group
07 Septiembre 2012 - 8:31AM
Marketwired
AuraSource, Inc. (OTCQB: ARAO) (OTCBB: ARAO),
a developer of hydrocarbon clean fuel and mineral material
beneficiation technology, today announced that it has formed a
strategic partnership with China Xinxing Cathy International Group
("Xinxing Group"), a Global 500 largest company, to joint research
and develop ultra-low ash coal, import iron ore and process
minerals. As part of the strategic partnership cooperation,
AuraSource also entered into a joint development agreement with
Xinxing Ductile Iron Pipes Co., Ltd. ("Xinxing Pipe") for a larger
capacity slurry particles centrifugal separator. Xinxing is one of
the largest producers of ductile cast iron pipes and steel gratings
in the world. Xinxing will use this technology for pre-combustion
ash removal and hematite beneficiation for their production of
steel.
Mr. Guo Shijin, the First Vice President of Xinxing Group,
stated, "Xinxing Group has a strong research and development
capacity to apply to a centrifugal separator system design and
manufacturing, we are strongly interested in AuraSource's ultra-low
ash coal processing technology and its applications for steel
industry."
Philip Liu, AuraSource's CEO, stated, "AuraSource and Xinxing
have complementary advantages. AuraSource has its ultra-low ash
coal technology and Xinxing Group has strong R&D resources and
financial strength. This helps AuraSource speed up its technology
commercialization and further market it worldwide. By partnering
with Xinxing Group, AuraSource will have a long term mineral
product export contract, strong R&D resources and speedy
industrial marketization."
About Xinxing Group
Xinxing Cathay International Group Co., Ltd., (Xinxing Group) is a large scaled solely state-owned
company dealing with assets management, capital operation and
production management. Its main products include ductile cast iron
pipes, pipe fittings, steel gratings, steel, engineering
machineries, special and dedicated vehicle modification, oil
equipment, textile, garments, dyeing and finishing, leather and
leather shoes, rubber products, equipment and etc. At the time
being, Xinxing Cathay International Group is a fabrication,
research and development foundation for ductile iron pipes, whose
comprehensive strength and technical level is in leading position
and output and sale volume is the highest in the world. It is also
the largest development base for steel grating in China and a state
level innovative enterprise.
For more information on Xinxing Group, please visit
http://english.xxcig.com
About Xinxing Pipe
Xinxing Ductile Iron Pipes Corp is a public company founded and
controlled by Xinxing Group. Xinxing's main business consists of
ductile cast iron pipes and iron/steel pipe fittings, iron and
steel melting and stretching, composite pipes, steel gratings etc.
The production capacity of Xinxing's ductile cast iron pipes and
steel gratings ranks the first place in the world. It owns
self-developed intellectual property; for instance, the technology
used for the special steel products pioneers internationally and
filled the world gaps. The major economic and technical index of
Xinxing's production processes lead in the overall sector in
China.
For more information on Xinxing, please visit
http://www.xinxing-pipes.com/.
About AuraSource
AuraSource is focused on the development and production of
environmentally friendly and cost effective industrial energy and
feedstock used for industrial applications. AuraSource's core
technology includes ultrafine grinding and impurities removal
processes. Initial industrial applications of AuraSource technology
are ultra-fine coal water mixture for heavy oil substitution, and
low grade iron ore fine and slimes beneficiation.
For more information about AuraSource, please visit
www.aurasourceinc.com.
SAFE HARBOR STATEMENT This Press Release
may contain certain forward-looking statements within the meaning
of the Securities Litigation Reform Act of 1995. AuraSource has
tried, whenever possible, to identify these forward-looking
statements using words such as "anticipates," "believes,"
"estimates," "expects," "plans," "intends," "potential" and similar
expressions. These statements reflect AuraSource's current beliefs
and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and
unknown risks, uncertainties and other factors which could cause
AuraSource's actual results, performance or achievements to differ
materially from those expressed in or implied by such statements.
AuraSource undertakes no obligation to update or provide advice in
the event of any change, addition or alteration to the information
catered in this Press Release including such forward-looking
statements.
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CONTACT: For Company Eric Stoppenhagen
+1-949-903-0468 Email Contact
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