NEW YORK, Feb. 26, 2015 (GLOBE NEWSWIRE) -- China Advanced Construction Materials Group, Inc. (Nasdaq:CADC) ("China ACM" or the "Company"), a provider of ready-mix concrete and related technical services in China, on February 26th, 2015, provided an update of the Company's ongoing key project, the China Zun Tower (also known as "CITIC Plaza" and "China Zun") in Beijing.
The China Zun Tower, (aka CITIC Plaza) is a supertall skyscraper under construction in the Central Business District of Beijing. The 108-story and 1,732-foot-tall building will become the tallest in Beijing once the construction completes, and its height will surpass that of the current tallest, China World Trade Center Tower III, by over 600 feet. The name of the building, China Zun, comes from "zun", an ancient Chinese wine vessel that inspired the building design, according to the developers and design firms, the CITIC Group and the Tower's design firms, Beijing Institute of Architecture and Design, Kohn Pedersen Fox Associates, and Arup Group. More information of China Zun project is available at http://skyscrapercenter.com/building/zhongguo-zun/11116.
The Company has thoroughly participated in the development of China Zun from the beginning. Together with a few limited suppliers, the Company has been supplying various concrete materials and delivering related construction services at the project's ground breaking, foundation constructions, underground constructions, and aboveground developments.
To view an enhanced version of Photo 1: Construction Site of the China Zun Tower, please visit: http://orders.newsfilecorp.com/files/1471/14213_cacm.h3.jpg
The China Zun project constantly encounters formidable challenges during its development. For instance, its over-130-foot-deep foundation is among the deepest for modern skyscrapers in the world. In building this earthquake-resistant foundation, the Company once had delivered and pumped over half million cubic feet of concrete products in continuous batches with no pause.
To view an enhanced version of Photo 2: Construction Site of the China Zun Tower, please visit: http://orders.newsfilecorp.com/files/1471/14213_cacm.h4.jpg
Over the past couple of years, the Company had accumulatively supplied over 2 million cubic feet of concrete products for some major skyscraper projects in Beijing, and will continue to serve as one of the main suppliers for China Zun till the completion of the project in 2018. Once completed, The China Zun Tower will be home to the CITIC Group and the CITIC Bank's headquarter offices, several 6-star hotels, and feature certain high-end retail outlets. The total volume of concrete products supplied by the Company for the Central Business District of Beijing is expected to exceed 3 million cubic feet.
"Beijing is competing to become one of the cities with a new generation of skyscrapers in the world. Currently the three tallest skyscrapers are the 1110-foot-tall China World Trade Center Tower III, the 820-foot-tall Fortune Plaza and the 820-foot-tall Yintai Plaza. We have participated in the development of essentially all these landmark buildings," said Mr. Xianfu Han, Chairman and CEO of the Company, "and this will soon be lifted to a whole new level. As expected to become the new iconic landmark in the future Beijing, China Zun Tower will be the first skyscraper close to 2000 feet tall and subsequently lead to a wave of skyscraper constructions with similar heights within the area."
"We are honored and grateful to have the opportunity to serve China Zun," further commented by Mr. Han, "and we are committed to continuously contribute our environmentally-friendly concrete to China Zun and all the upcoming new skyscrapers in Beijing."
About China ACM
China ACM is a producer of advanced, certified eco-friendly ready-mix concrete (RMC) and provider of related technical services for large scale, and other complex infrastructure projects. Leveraging its proprietary technology and value-add engineering services model, the Company has won work on many high profile projects including the 30,000 km China High Speed Railway expansion, the National Olympic Stadium Bird's Nest for Beijing Olympics 2008, Beijing South Railway Station, Beijing International Airport, National Center for Performing Arts, CCTV Headquarters, Beijing Yintai Plaza, and U.S. and French embassies in China. More information about the Company is available at www.china-acm.com. The Company routinely posts important information on its website.
Forward-Looking Statements
This press release contains statements that are forward-looking in nature, including statements regarding the Company's competitive position and product and service offerings. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties, which may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; and the Company's ability to manage its business effectively in a rapidly evolving market. Certain of these and other risks are set forth in more detail in "Item 1A. Risk Factors" in China ACM's Annual Report on Form 10-K for the fiscal year ended June 30, 2014. China ACM does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.
CONTACT: China ACM Investor Relations
Phone: +86-10-82525361
E-mail: IR@china-acm.com
