China Advanced Construction Materials Group Announces Approval of NASDAQ Listing
October 28 2009 - 6:30AM
PR Newswire (US)
NEW YORK and BEIJING, Oct. 28 /PRNewswire-FirstCall/ -- China
Advanced Construction Materials Group, Inc. ("China ACM")
(OTC:CADC) (BULLETIN BOARD: CADC) , a leading provider of ready-mix
concrete in China, today announced that it has received approval to
list its common stock on the NASDAQ Global Market. The company's
shares are expected to commence trading on NASDAQ on November 2,
2009, and will continue to trade under the symbol "CADC." Mr.
Xianfu Han, Chairman and Chief Executive Officer, stated, "Our
listing on the NASDAQ Global Market marks an important milestone
for China ACM. Since founding the company in 2002, we have been
focused on growing our business and gaining prominence throughout
China for the high quality, advanced technologies, and
environmental benefits of our ready-mix concrete. This is best
illustrated by the projects with which we have been involved, such
as the Bird's Nest Stadium, The Water Cube, The U.S. Embassy in
China and many other noteworthy structures. We are also excited
about our growing participation in providing ready-mix concrete for
China's national railway project, which provides a new source of
high margin revenue and allow us to rapidly expand our operations
beyond Beijing. Given our very strong historical revenue growth,
sustained profitability, and strong balance sheet with no-long-term
debt, we are pleased to have met the high standards of this premier
exchange. It is our belief that a listing on the NASDAQ Global
Market will help to elevate awareness of the company among members
of the investment community." 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
eight ready-mix concrete plant network covering Beijing
metropolitan area. China ACM owns one plant, leases three 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, , for China
Advanced Construction Materials Group, Inc. Web Site:
http://www.china-acm.com/
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