China Armco Metals Receives a Purchase Order of 60,000 Tons of Scrap Steel for
2013 from one of largest steel companies in China
SAN MATEO, Calif., Jan. 7, 2013
SAN MATEO, Calif., Jan. 7, 2013 /PRNewswire/ -- China Armco Metals, Inc. (NYSE
MKT: CNAM) ("China Armco" or the "Company"), a distributor of imported metal
ore and metal recycler with a new state-of-the-art scrap metal recycling
facility in China, today announced that Armco (Lianyungang) Renewable Metals,
Inc., the Company's wholly owned subsidiary, has signed a sales agreement with
Jiangsu Lihuai Lron & Steel, Co., Ltd. According to the agreement, China
Armco's subsidiary will supply on average 5,000 metric tons each month,
totaling 60,000 metric tons, of various scrap steel to the client in 2013.
The Company's important customer, Jiangsu Lihuai Lron & Steel Co., Ltd, listed
on China Shenzhen Stock Exchange (SZEx, stock code 002075), is a subsidiary of
Jiangsu Shagang Co., Ltd. which is the largest privately-owned steel company
in China. China Armco has developed a long-term and strategic cooperation
relationship with the customer. The client will use a letter of credit payment
method to facilitate the trade financing in our business operation.
"We continue to strengthen our business relationship with this important
client in 2013 by entering into the annual supply agreement; which we intend
to pursue long term orders from other large clients to achieve steady growth
in 2013," said Mr. Kexuan Yao, Chairman and CEO of China Armco. "Receiving
this large order from one of the largest steel companies in China is a great
start for the promising year of 2013, and we are looking forward to working
with all of our customers and achieving a productive year."
ABOUT CHINA ARMCO METALS, INC.
China Armco Metals, Inc. is engaged in the sale and distribution of metal ore
and non-ferrous metals throughout the PRC and is in the recycling business in
the PRC. China Armco's customers throughout China include some of the fastest
growing steel producing mills and foundries in the PRC. Raw materials are
acquired from a global group of suppliers located in diverse countries,
including, but not limited to, Brazil, India, Indonesia, Ukraine and the
United States. China Armco's product lines include ferrous and non-ferrous
ore, iron ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore,
steel billet and recycled scrap metals. For more information about China
Armco, please visit http://www.armcometals.com.
SAFE HARBOR STATEMENT
In connection with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, China Armco Metals, Inc., is hereby providing
cautionary statements identifying important factors that could cause our
actual results to differ materially from those projected in forward-looking
statements (as defined in such act). Any statements that are not historical
facts and that express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance (often, but not
always, indicated through the use of words or phrases such as "will likely
result," "are expected to," "will continue," "is anticipated," "estimated,"
"intends," "plans," "believes" and "projects") may be forward-looking and may
involve estimates and uncertainties which could cause actual results to differ
materially from those expressed in the forward-looking statements. These
statements include, but are not limited to, our expectations regarding our
revenues and production related to our scrap metal recycling operations,
pricing and demand for our product lines and the extent of government imposed
energy and monetary policy restrictions and resulting blackouts and associated
impact on our trading and recycling operations.
In addition, any such statements are qualified in their entirety by reference
to, and are accompanied by, the following key factors that have a direct
bearing on our results of operations:
We caution that the factors described herein could cause actual results to
differ materially from those expressed in any forward-looking statements we
make and that investors should not place undue reliance on any such
forward-looking statements. Further, any forward-looking statement speaks only
as of the date on which such statement is made, and we undertake no obligation
to update any forward-looking statement to reflect events or circumstances
after the date on which such statement is made or to reflect the occurrence of
anticipated or unanticipated events or circumstances. New factors emerge from
time to time, and it is not possible for us to predict all of such factors.
Further, we cannot assess the impact of each such factor on our results of
operations or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in any
forward-looking statements. This press release is qualified in its entirety by
the following, including, but not limited to, any expectations with respect to
the Company's revenues and operations, institution of governmental regulations
relating to our businesses and the international economic climate, and the
cautionary statements and risk factor disclosure contained in our Securities
and Exchange Commission filings, including our Annual Report on Form 10-K for
the year ended December 31, 2011, and each of our Quarterly Filings on Form
10-Q for the periods ended March 31, 2011 , June 30, 2011 and September 30,
2011 , respectively.
China Armco Metals, Inc.
US Investor Relations Contact
SOURCE China Armco Metals, Inc.
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