Mar 3 2010
China Advanced Construction Materials Group, Inc. (Nasdaq: CADC), ("China ACM", or the "Company") a leading provider of ready-mix concrete in China, today announced that it has been awarded a new contract totaling $1.55 million for its ready-mix concrete services for one section of the PanJin to YingKou high-speed railway in Liaoning Province.
The project will require 200,000 cubic meters of concrete and should be completed in less than two years.
Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, "We are pleased with the steady flow of railway projects that we have been awarded since we began focusing on the railway infrastructure construction area. Our investments in portable plants and implementation of our ready-mix concrete services have proven to be a successful strategy. Our railway operations are structured so that as earlier projects wind down, we are in a position to win additional contracts along the same high-speed rail lines. This tactic allows us to achieve the desired utilization levels and high margins. We remain committed to playing a significant role in the Chinese government's mandate to add 41,000 kilometers of railway track by the year 2020 and we believe that the strong demand for our services will help drive shareholder value in the future."
Source: http://www.china-acm.com