China Advanced Construction Materials Group Awarded $3.3 Million Railway Contract
02 June 2009 - 11:00PM
PR Newswire (US)
NEW YORK and BEIJING, June 2 /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 a new contract to provide ready-mix concrete for a
major railway construction project in China. China ACM will provide
the concrete under its new manufacturing services business line,
whereby the general contractor supplies the raw materials and China
ACM produces the ready-mix concrete. The contract is expected to
generate approximately $3.3 million over a two year period. Mr.
Xianfu Han, Chairman and Chief Executive Officer, stated, "We are
pleased to have been selected to provide concrete for this major
railway project. This single project will require in excess of
400,000 cubic meters of ready-mix concrete, which we will supply
through our portable plants. The advantage to these plants is that
they can be moved from location to location along the railway line,
minimizing the transportation costs. We were selected for this
contract based on our competitive pricing, our high quality, and
our proven track record. The national railway project represents a
major growth opportunity for the company, considering the Chinese
government plans to add another 41,000 kilometers of new track over
the next 11 years. We are actively bidding on a number of
additional railway projects and look forward to announcing similar
contract awards in the near future." 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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