China Advanced Construction Materials Group Awarded $2 Million Contract for Guizhou-Guangzhou Railway
13 March 2009 - 12:00AM
PR Newswire (US)
NEW YORK and BEIJING, March 12 /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 million contract to provide concrete manufacturing
services for a major section of the Guizhou-Guangzhou railway
construction project. 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 railway will run from Guiyang to
Guangzhou and will cover approximately 857 kilometers. China ACM's
portion of the project is scheduled to be completed in late-2010.
The new line is designed to be a double-track electrified railway
and will allow trains to travel at 200 kilometers per hour. The
line is expected to have a daily capacity of 100 passenger trains
and an annual capacity for goods transportation of 35 million tons.
Mr. Xianfu Han, Chairman and Chief Executive Officer, stated,
"China ACM is establishing a niche in supplying concrete services
for the expansion of China's railway system. In addition to our
traditional concrete services in and around Beijing, we have now
been involved in numerous high speed railway projects all over the
country and continue to bid for others. We believe that our
environmentally-friendly methodology for producing ready-mix
concrete, our portable concrete manufacturing plants that can be
moved from location to location along the railway line and our
reputation for quality are all factors in our success for winning
this business. We look to further extend our geographic footprint
within China as we bid for projects encompassing a wider radius
outside Beijing in the months and years ahead. China's stimulus
package that was implemented in November of 2008 is concentrated on
the build out of China's infrastructure and we have already begun
to benefit from this initiative." 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,
+1-212-671-1020, Web Site: http://www.china-acm.com/
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