Puda Coal, Inc. ("Puda" or the "Company") (OTCBB: PUDC), a leading supplier of China's highest grade metallurgical coking coal -- which is used to make coke for steel manufacturing, announced today that it has begun delivery of cleaned coking coal to Yatai Coke ("Yatai"). Puda launched the relationship with Yatai in Q3 '06 and delivered approximately 22,000 metric tons (MT) for the quarter. Puda expects to deliver approximately 20,000 MT to Yatai in Q4 '06, or approximately 42,000 MT on the year.
Puda's new business development efforts have met with significant success in the past year -- Yatai is the third new client announced in 2006. Relationships like that with Yatai also further diversify Puda's portfolio of clients, reducing the Company's dependence on sales to any one customer.
About Puda Coal, Inc.
Puda Coal, through its affiliates and controlled entities, supplies premium grade coking coal to the steel making industry for use in making coke. The Company currently possesses 2.7 million metric tons of annual coking coal cleaning capacity, and management believes it is the largest coking coal cleaning company in terms of capacity in Shanxi Province, China. Shanxi Province provides 20-25% of China's coal output and supplies nearly 50% of China's coke.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward looking statements if they comply with the requirements of the Act.
Justin K. Davis
After Market Support, LLC
Toll Free: +1 (888) 850-PUDC (7832)