Oct 29 2009
China Advanced Construction Materials Group, Inc. ("China ACM") (OTC 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."
Source: http://www.china-acm.com/