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  • China Advanced Construction (CADC) Expands Project Portfolio with Award of Two Contracts worth $6.8M 0 comments
    Feb 17, 2011 11:50 AM | about stocks: CADC

    China Advanced Construction Materials Group Inc. (China AMC), a leading provider of ready-mix concrete and related technical services in China, has been awarded two high-speed rail (HSR) contracts valued at $6.8 million total, bringing the company’s total number of portable concrete plants to 23.

    The contract was awarded by CCCC Tunnel Engineering Co. Ltd. to China AMC’s Manufacturing Services business segment and is being fulfilled with premium ready-mix concrete (RMC) from four portable plants. The rapidly growing segment achieved a gross margin of 31 percent compared with its blended gross margin of 19 percent reported in the second fiscal quarter ended Dec. 31, 2010.

    The first contract is for Part 4, Section 3, Jiangxi Section of the Shanghai – Kunming Passenger Rail project in Jiangxi Province. This contract is valued at approximately $4.34 million and will require about 530,000 cubic meters of China ACM premium RMC; the second contract is for Part 5, Section 3, Jiangxi Section of the Shanghai – Kunming Passenger Rail project in Jiangxi Province, valued at approximately $2.46 million and will require about 300,000 cubic meters of China ACM premium RMC.

    The contracts brings a total of 23 portable concrete plants to China AMC’s portfolio, with 19 fully contracted and operating country wide today. Four remain in preliminary, trial production at client sites, and the company said it anticipates announcing that they are fully contracted in the current or subsequent quarter. For China AMC, the newest contracts represent the company’s solid foothold in the industry.

    “High speed rail is a major, vital component of China’s drive toward modernization and urbanization. I am pleased to report continuing solid progress in our rapidly growing manufacturing services business, reflecting growing demand for our patented, premium eco-friendly RMC blends,” Xianfu Han, chairman and CEO of China AMC stated in the press release.

    China AMC said it estimates the contracts will be completed in the second and fourth quarters of fiscal year 2012, respectively.

    For more information visit china-acm.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net

    Stocks: CADC
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