NASDAQ suspends ShengdaTech shares

ERJ staff report (DS)

Shanghai, China -- Shares of ShengdaTech, a Chinese manufacturer of calcium carbonate, have been suspended on the NASDAQ stock exchange.

NASDAQ Listing Qualifications Panel denied the Company's request for continued listing on NASDAQ and, accordingly, NASDAQ suspended trading of the Company's shares effective with the open of business, June 10, 2011 pending the formal delisting of the Company's securities from the exchange. Shengda said it would appeal against the decision.

ShengdaTech is engaged in the business of manufacturing, marketing, and selling nano-precipitated calcium carbonate ("NPCC") products. The Company converts limestone into NPCC using its proprietary and patent-protected technology. NPCC products are increasingly used in tyres, paper, paints, building materials, and other chemical products.

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Press release from ShengdaTech