China Advanced Construction Materials Group Awarded $2.2 Million Contract for Jin-Qin High Speed Railway
March 04 2009 - 8:00AM
PR Newswire (US)
NEW YORK and BEIJING, March 4 /PRNewswire-FirstCall/ -- China
Advanced Construction Materials Group, Inc. ("China ACM")
(OTC:CADC) (BULLETIN BOARD: CADC) , a leading provider of ready-mix
concrete and related services in China, today announced that it was
awarded a $2.2 million contract to provide concrete manufacturing
services for a major section of the Jin-Qin High Speed Railway
construction project. The railway will run from Tianjin to
Qinhuangdao and will cover approximately 164 miles. China ACM's
component of the project is scheduled for completion in mid-2010.
China ACM's concrete manufacturing services are a growing and high
margin segment of the business, whereby the general contractors
supply the raw materials and China ACM produces the ready-mix
concrete. The company plans to use one of its newly built portable
plants to produce the concrete for this contract. These portable
plants are advantageous for use in railway projects, since they can
be dismantled and moved to sites along the railway route. Mr.
Xianfu Han, Chairman and Chief Executive Officer, stated, "Since
investing in our portable concrete manufacturing plants in
mid-2008, we have had great success in winning contracts to provide
concrete and related services for the construction of major
railways in and around Beijing. Other railway projects we have bee
involved in include the high speed railway from Beijing to
Shijianzhuang and the Harbin-Dalian railway. Our ability to meet
project specific engineering and environmental specifications at an
attractive price point gives us a strong competitive edge in the
marketplace. We have built a reputation for quality and a high
level of expertise over the years and we are pleased to play such
an important role in the modernization and expansion of China's
infrastructure." About China ACM China ACM, founded in 2002 and
based in Beijing, China, is a leading producer of advanced
construction materials for large scale commercial, residential, and
infrastructure developments. The company is primarily focused on
producing and supplying a wide range of advanced ready-mix concrete
materials for highly technical, large scale, and environmental
construction projects. The company also aims to develop and produce
new and innovative environmentally conscious construction
materials. China ACM provides materials and services through its
seven ready-mix concrete plant network covering Beijing
metropolitan area. China ACM owns one plant, leases two plants and
has technical services and preferred procurement agreements with
four other independently-owned plants. China ACM is ISO 9001
(product quality), ISO 14001 (environmental safety), and ISO 18001
(employment environment safety) certified. Additional information
about the company is available at http://www.china-acm.com/. This
press release contains "forward-looking statements" within the
meaning of the "safe-harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such statements involve known and
unknown risks, uncertainties and other factors that could cause the
actual results of the Company to differ materially from the results
expressed or implied by such statements, including changes from
anticipated levels of sales, future national or regional economic
and competitive and regulatory conditions, changes in relationships
with customers, access to capital, difficulties in developing and
marketing new products, marketing existing products, customer
acceptance of existing and new products, and other factors.
Additional Information regarding risks can be found in the
Company's Annual Report on Form 10K and in the Company's recent
report on Form 8K filed with the SEC. Accordingly, although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. The
Company has no obligation to update the forward-looking information
contained in this press release. Contact: On-line Investor Contact:
Crescendo Communications, LLC AGORACOM Investor Relations David
Waldman or Klea Theoharis http://www.agoracom.com/IR/chinaacm Tel:
(212) 671-1020 Email: Web: http://www.china-acm.com/ DATASOURCE:
China Advanced Construction Materials Group, Inc. CONTACT: David
Waldman or Klea Theoharis, both of Crescendo Communications, LLC
for China Advanced Construction Materials Group, Inc.,
+1-212-671-1020, Web Site: http://www.china-acm.com/
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