DEERFIELD BEACH, Fla., Oct. 18, 2011 /PRNewswire/ -- China Direct Industries, Inc. ("China Direct Industries") (NASDAQ: CDII), a U.S. based company that sources, produces and distributes industrial products in China and the Americas in two core business segments, announced today that it successfully completed implementation of its new UFIDA NC Enterprise Resource Planning (ERP) financial account software system at Shanxi Gu County Golden Magnesium Co., Ltd. ("Golden Magnesium"), its wholly owned subsidiary.
The NC ERP system is a comprehensive financial accounting software suite provided by UFIDA Software Co. Ltd., the largest enterprise resource management solution provider in China. Once fully implemented, this web based ERP system will enable management to better manage its magnesium operations through a real-time centralized financial data management system. The NC ERP system enables multi-currency financial data capability as well as multilingual user interfaces and reports functionality making it the ideal financial management tool for China Direct Industries as it builds its operations in the United States, China, and Latin America.
Management expects to continue the implementation of the system with its other magnesium subsidiaries in the coming months. Full implementation of the ERP system will help management improve corporate forecasting, overall accounting practices, and financial transparency as China Direct Industries grows its operations in the coming years.
Commenting on the successful ERP implementation at Golden Magnesium, Dr. James Wang, Chairman and CEO of China Direct Industries, Inc., stated "The system-wide rollout of this ERP system is critical for us as we move to complete our magnesium consolidation plan and successful implementation at Golden Magnesium is a significant milestone in this important process. The NC ERP system will provide for greater financial transparency and enable management to rapidly respond to changing business conditions to maximize overall financial performance throughout our organization."About China Direct Industries, Inc China Direct Industries, Inc. (NASDAQ: CDII), is a U.S. based company that sources, produces and distributes industrial commodities in China and the Americas and provides business and financial consulting services. Headquartered in Deerfield Beach, Florida with corporate offices in Shanghai, China Direct Industries' unique infrastructure provides a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about China Direct Industries, please visit http://www.cdii.net. DISCLOSURE NOTICE: