China Advanced Construction Materials Group Awarded New Contracts Totaling $4.1 Million for Hangzhou-Ningbo Railway
July 16 2009 - 10:47AM
PR Newswire (US)
NEW YORK and BEIJING, July 16 /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 has
been awarded two new contracts to provide concrete manufacturing
services for the Hangzhou-Ningbo railway construction project.
Under the agreement, China ACM will supply 500,000 cubic meters of
concrete and expects to complete the project by mid-2011. Upon
completion, the Hangzhou-Ningbo railway will cover approximately
150 kilometers, or approximately 93 miles. Train speed on this line
will approach 188 miles per hour and will reduce travel time
between Hangzhou City and Ningbo City to less than one hour. Mr.
Xianfu Han, Chairman and Chief Executive Officer, stated, "We
continue to gain traction in providing our manufacturing services
for China's growing network of railway systems. We are in a unique
position to win these railway projects as one of only a select
group of companies authorized to supply ready-mix concrete for
government infrastructure projects. Our competitive advantages also
include our advanced technologies, lengthy warranty period and
superior pricing. The high profile projects we have been involved
with in and around the Beijing area serve as testimonials to the
quality of our work and the reputation we have established." Mr.
Han continued, "High speed railways are an important element in the
continued modernization of China. In total, we have been awarded 9
of these railway projects since the fiscal first quarter of 2009,
which alone will generate more than $25 million of revenue in the
next two years. We expect to announce similar contract awards in
the coming weeks and months." 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: Crescendo Communications,
LLC David Waldman or Klea Theoharis 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, +1-212-671-1020, Web Site:
http://www.china-acm.com/
Copyright