China ACM to Present at Canaccord Genuity 4th Annual Sustainability Forum
01 March 2011 - 6:37AM
Marketwired
China Advanced Construction Materials Group, Inc. (NASDAQ: CADC)
("China ACM"), a leading provider of eco-friendly ready-mix
concrete and related technical services in China, today announced
that Jeremy Goodwin, President and Chief Financial Officer, will be
presenting at the Canaccord Genuity 4th Annual Sustainability Forum
on Wednesday, March 2, 2011, at the St. Regis Deer Crest Resort in
Park City, Utah.
A copy of the presentation that will be used at the Forum may be
accessed via the Investor Relations section of the China ACM
website at www.china-acm.com on Wednesday, March 2, 2011.
On the timely subject of sustainable economic growth, energy
efficiency and environmental protection, the Company noted that a
Bloomberg News article about China quoting its Premier Wen Jiabao,
datelined February 27, reports: The government set an economic
growth target of 7 percent for the so-called 12th five-year plan
period, which covers 2011 through 2015, Wen said in response to
online questions today on the website of the official Xinhua News
Agency. China's target was 7.5 percent for the period from 2006
through last year, with actual growth exceeding that each year.
"We want to put the emphasis of our work on the quality and the
benefits of economic growth," Wen said. "We want the fruits of
development to benefit the people."
China has introduced initiatives to increase domestic
consumption, make growth more energy efficient and encourage
investment in poorer inland provinces after the economy more than
doubled in the past five years as the wealth divide widened,
pollution increased and gains in food and home prices accelerated.
China can't "blindly" pursue economic growth that is unsustainable,
Wen said today.
The lower growth target is a signal "the government will
probably be more aggressive towards controlling inflation," said
Dariusz Kowalczyk, a Hong Kong-based economist at Credit Agricole
CIB. "China is also increasingly serious about protecting the
environment."
About China ACM China ACM is a leading
producer of advanced, certified eco-friendly ready-mix concrete
(RMC) and related technical services for large scale, high-speed
rail (HSR) and other complex infrastructure projects. Leveraging
its proprietary technology and value-add engineering services
model, the Company has won work on numerous high profile projects
including the 30,000 km China HSR expansion, the Olympic Stadium
Bird's Nest, Beijing South Railway Station, Beijing International
Airport, National Centre for Performing Arts, CCTV Headquarters,
Beijing Yintai Building and U.S. and French embassies.
Founded in 2002, Beijing-based China ACM provides its materials
and services through its network of fixed ready-mix concrete plants
covering the Beijing metropolitan area. It also has technical
consulting services and preferred procurement agreements with other
independently-owned plants across China. Additionally, the Company
owns numerous portable plants deployed in various provinces across
China primarily to major high speed rail projects. More information
about the Company is available at www.china-acm.com.
Forward-Looking Statements This press
release contains statements that are forward-looking in nature,
including statements regarding the Company's competitive position
and product and service offerings. These statements are based on
current expectations on the date of this press release and involve
a number of risks and uncertainties, which may cause actual results
to differ significantly from such estimates. The risks include, but
are not limited to, the degree of market adoption of the Company's
product and service offerings; market competition; dependence on
strategic partners; and the Company's ability to manage its
business effectively in a rapidly evolving market. Certain of these
and other risks are set forth in more detail in "Item 1A. Risk
Factors" in China ACM's Annual Report on Form 10-K for the fiscal
year ended June 30, 2010. China ACM does not assume any obligation
to update or revise any such forward-looking statements, whether as
the result of new developments or otherwise.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contact Financial Profiles Tricia Ross (916) 939-7285
tross@finprofiles.com Financial Profiles Moira Conlon Tel: (310)
478-2700 x11 mconlon@finprofiles.com
China Advanced Constr Matls Group (MM) (NASDAQ:CADC)
Historical Stock Chart
From Jun 2024 to Jul 2024
China Advanced Constr Matls Group (MM) (NASDAQ:CADC)
Historical Stock Chart
From Jul 2023 to Jul 2024