BEIJING, Feb. 17 /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 Bank of America/Merrill Lynch Research has called the site of the Company's most recent expansion, Xi'an, "one of the most important cities in Western China." Under an agreement with CHNC and China Railway Construction Group Co., Ltd, the two parties will join to produce and sell concrete in north central China's Xi'an region, and CHNC has already built a new manufacturing facility there.
"Investment projects in Xi'an and its vicinity include a new airport terminal, a new railway station, widening of existing highways, a network of high-speed railways and subways," said the Bank of America/Merrill Lynch "China Economics" report. CHNC announced last month that a branch mixing station with an annual production capacity of 3,600,000 m3 has been set up in the city of Xi'an, in part to serve the requirements of the infrastructure build out that the China Economics report describes.
Mr. Yang Rong, Chairman and Chief Executive Officer of CHNC said, "We and leading investors have identified some very favourable trends in Xi'an that will accelerate the expansion of the CHNC business throughout northwest China."
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.
