BEIJING, Feb. 22 /PRNewswire-Asia/ -- China Infrastructure Construction Corporation (OTC Bulletin Board: CHNC), one of the major U.S.-listed providers of ready-mix concrete in Beijing, today announced that that the Board of Directors has appointed Messrs. Francis Nyon Seng Leong, Zhenhai Niu, and Pat Lee Spector, as independent members of the Board. Together with the Company's current two board members, CHNC's board now consists of five members. Four of the five board members each qualify as "independent" directors as defined by the rules of the Nasdaq Stock Market.
Mr. Leong, age 66, is a principal of Sungai River Inc., an international financial consulting company. During March through June of 2004, he was CFO and Secretary of Blue Diamond Mining Corporation, a Canadian NEX board listed company in the oil and gas industry. Prior to that, Mr. Leong served as the Treasurer for the City of Calgary, Canada from October 1999 through August 2003. Currently Mr. Leong is serving on the boards and committees of various public companies, including Enmax Corporation, a $2 billion Municipal Electric Utility Company in Calgary, Boyuan Construction Group, a Chinese construction company listed on TSX Venture Exchange, Andatee China Marine Fuel Services Corporation, a Nasdaq traded company in the marine fuel industry, and China Industrial Waste Management, Inc., an industrial waste management company listed on the OTC Bulletin Board.
Mr. Niu, age 48, is a China-based hospitality industry veteran and currently general manager of the Beijing Ritan Hotel since February 2008. Prior to that, he was manager of the China Hainan Huandao Taide Hotel since 1999.
Mr. Spector, age 66, is currently Executive Advisor of AECOM Technology, Inc., a technical and management service provider listed on New York Stock Exchange ("NYSE"). From January 1999 through May 2007, he served as Vice President of Jacobs Engineering Group Inc., another NYSE listed company that is engaged in the business of technical services and support.
Mr. Yang Rong, Chairman of the Board and Chief Executive Officer of CHNC commented, "We welcome Francis Nyon Seng Leong, Pat Lee Spector, and Zhenhai Niu to our Board. Their other public company directorships, financial and corporate experience, industry knowledge, and reputation will certainly help to build a strong Board, lead CHNC to success, and maximize shareholder value."
About China Infrastructure Construction Corporation
CHNC was founded in 2002 in Beijing, China. Since then it has developed into one of the top ready mix concrete producers in Beijing. Its products are environment-friendly and among the few providers in China of "green" concrete. Both the Company's revenue and net profit have shown rapid growth in the last few years. Currently, the Company has five prime production facilities with two located in Beijing's Nanhaizi area and Shidu, two are located in the Tangshan, about two hundred kilometers east of Beijing, and one located in Xian. CHNC has a combined annual operating capacity from these locations of 4.0 million cubic meters.
In addition to its production and profit prowess, CHNC is a leader in China's "Green Concrete" movement referring to increased use of the environmentally-friendly content in ready-mix concrete, by reducing the energy and raw material consumption in its production, and by mixing and recycling various industrial wastes to create a more sustainable product.
All of CHNC's products have passed the ISO9001-2005 Certification Quality System and Integrated Certification System including Quality Management System Certification, Environmental Management System Certification and Occupational Health and Safety Management System Certification issued by Beijing Zhong Jian Xie Certification Centre.
Its major projects include the Beijing World Trade Central Business District project, and the Beijing Wanjing International Mansion.
Forward-looking Statements: Certain statements made in this news release, may contain forward-looking statements concerning the Company's business, prospects and products. These statements include, without limitation, statements regarding our ability to prepare the Company for growth, the Company's planned capacity expansion and predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs, but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These factors may include, but are not limited to, such factors as unanticipated changes in product demand especially in the infrastructure construction industry, pricing and demand trends for the Company's products, changes to government regulations, risk associated with operation of the Company's new facilities, risk associated with large-scale implementation of the Company's business plan, the ability to attract new customers, ability to increase its products' applications, cost of raw materials, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. Investors are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
