NEW YORK and BEIJING, March 4 -- China Advanced Construction Materials Group, Inc. ("China ACM") (OTC Bulletin Board: CADC), a leading provider of ready-mix concrete and related services in China, today announced that it was awarded a $2.2 million contract to provide concrete manufacturing services for a major section of the Jin-Qin High Speed Railway construction project. The railway will run from Tianjin to Qinhuangdao and will cover approximately 164 miles. China ACM's component of the project is scheduled for completion in mid-2010.
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 company plans to use one of its newly built portable plants to produce the concrete for this contract. These portable plants are advantageous for use in railway projects, since they can be dismantled and moved to sites along the railway route.
Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "Since investing in our portable concrete manufacturing plants in mid-2008, we have had great success in winning contracts to provide concrete and related services for the construction of major railways in and around Beijing. Other railway projects we have bee involved in include the high speed railway from Beijing to Shijianzhuang and the Harbin-Dalian railway. Our ability to meet project specific engineering and environmental specifications at an attractive price point gives us a strong competitive edge in the marketplace. We have built a reputation for quality and a high level of expertise over the years and we are pleased to play such an important role in the modernization and expansion of China's infrastructure."
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 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: ir@china-acm.com
Web:http://www.china-acm.com
