In the company’s news yesterday,
China Advanced Construction Materials Group, Inc. announced that it has been given a new contract to provide ready-mix concrete for a major railway construction project in China. According to the press release, the company will provide the concrete under its new manufacturing services business line, whereby China ACM produces the ready-mix concrete and the general contractor supplies the raw materials. It is anticipated that the contract will generate approximately $3.3 million over a two year period.
Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, “We are pleased to have been selected to provide concrete for this major railway project. This single project will require in excess of 400,000 cubic meters of ready-mix concrete, which we will supply through our portable plants. The advantage to these plants is that they can be moved from location to location along the railway line, minimizing the transportation costs.”
He continued, “We were selected for this contract based on our competitive pricing, our high quality, and our proven track record. The national railway project represents a major growth opportunity for the company, considering the Chinese government plans to add another 41,000 kilometers of new track over the next 11 years. We are actively bidding on a number of additional railway projects and look forward to announcing similar contract awards in the near future.”
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