April 29, 2009 (FinancialWire) — China Gengsheng Minerals, Inc. (OTCBB: CHGS) has signed a full-service refractory supply contract with Zibo Zhang Steel Co., Ltd., which it said should be worth around $2.9 million per year.

The company provides refractory product installation, testing, maintenance, repair and replacement to Chinese steel mills. It said that full-service customers contributed around 51% of China Gengsheng’s total sales in 2008, compared with 38.3% in 2007.

Gongyi, China-based China Gengsheng Minerals develops, manufactures and markets a range of industrial material products, including monolithic refractories, industrial ceramics and fracture proppants.

The company sells its products primarily to the iron-and-steel industry as heat-resistant components for steel-making furnaces, industrial kilns and other high-temperature vessels.

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