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DEERFIELD BEACH, Fla.,
Dec. 28, 2011 /PRNewswire/ -- China Direct Industries, Inc. ("China Direct Industries") (NASDAQ:
CDII), a U.S. based company that produces, sources, and distributes industrial commodities in
China and the Americas and provides cross border corporate advisory services announced today that its magnesium segment operations received five new purchase contracts from existing customers, including major Fortune 500 companies, valued at approximately
$11.0 million in December of 2011 for delivery over the next six months.
Commenting on the contracts, Dr.
James Wang, Chairman and CEO of China Direct Industries, Inc., stated "We are pleased to see an increase in orders and quoting activity as we head into calendar 2012. We believe that our magnesium segment will strengthen further throughout the coming year as economic conditions which weakened short term demand begin to abate."
About China Direct Industries, Inc.
China Direct Industries, Inc. (NASDAQ:
CDII), is a U.S. based company that produces, sources, 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
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, China Direct Industries, 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. These statements include, but are not limited to, our expectations concerning demand for our magnesium products and economic conditions.