NEW YORK, March 2, 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 March 2, 2015, announced a recent publication of technical standards for recycling concrete products and the production of such products from construction waste and building debris in Beijing.
The Alliance of Construction Waste Recycling Technologies of China, (the "Alliance"), which is chaired by the Company, published the foregoing technical standards for its members recently. The Standards provide an industry guidance to standardize the production of concrete products from construction wastes. The Standards is the first of its kind in construction wastes recycling in China.
The Alliance is the first and currently the largest autonomous cooperative association of construction waste recycling in China. The Alliance consists of member companies and participants who are voluntarily contributing, and collaborating to develop new technologies in construction waste recycling. In 2009, the Ministry of Science and Technology of China (the "Ministry", the "Government"), issued an executive order (2009, #648) to advocate the foundation of technologies cooperatives to promote technologies innovation among industries. In the executive order, the Ministry announced a series of policies on how the Government would support the Ministry-approved cooperatives for technology development strategically and financially. Together with other key members, the Company founded the Alliance, and the Ministry approved the Alliance's charter in 2013. The Company has chaired the Alliance since then.
The Standards include chapters of detailed technical specifications on how the recycling concrete products shall be, the compliance requirements that recycling productions shall met, and other related measures that environmental protections and quality assurance shall address. With these chapters, the Standards had provided a norm to the construction waste recycling systems. Its codes intend to establish the uniformed engineering criteria in the recycling production processes. Since the publication, the Standards had received large consensus from technical experts and been largely appraised by members and non-member entities in the industry. The standards had become effective in the Alliance from the beginning of 2015.
"As the chair of the Alliance, we contributed most to the draft of the Standards. We are very happy for the Standards to become effective," said Mr. Xianfu Han, chairman and CEO of the Company, "we are committed to adopt the entire Standards in our business. Under the Standards, we will advance our recycling technologies with big strides."
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, China Zun Tower, and U.S. and French embassies in China.
More information about the Company is available at www.china-acm.com.
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
