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China Armco Metals, Inc. Common Message Board

  • ewil30 ewil30 Jul 29, 2010 6:59 AM Flag

    China Armco Metals Commenced Shipments of Metal From Its Recycling Facility

    in June of 2010
    Sees Output Increasing Significantly in Third and Fourth Quarters of 2010

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    CNAM 3.39 0.00

    {"s" : "cnam","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: China Armco Metals, Inc. On Thursday July 29, 2010, 6:00 am
    SAN MATEO, CA--(Marketwire - 07/29/10) - China Armco Metals, Inc. (AMEX:CNAM - News), a distributor of imported metal ore and a metal recycler with a new state-of-the-art scrap metal recycling facility in China, today announced that Armet Renewable Resourced Co., Ltd., the Company's wholly owned subsidiary, commenced shipments of metal from its recycling facility in June of 2010.

    The second quarter shipments, totaling approximately 10,000 metric tons, represent the first quantity of end products produced and sold out of the new facility. The facility experienced a delay in ramping production in the second quarter due to power generation issues at the recently completed electric utility company in the Lianyangang enterprise zone which provides power to the area. As those issues have been resolved, management sees production at the facility ramping significantly in the third and fourth quarters as the company looks to deliver on its current supply contracts.

    Commenting on the announcement, Mr. Kexuan Yao, CEO and Chairman of China Armco Metals, Inc., stated, "We are pleased to have reached this important milestone for our company. As we now ramp toward our goal of full production and the small startup issues are behind us, we believe the future for our company is brighter than ever. With the contracts, materials, manpower and equipment in place and operational, we now are in a position to realize our growth potential in the coming quarters and years for the benefit of our shareholders."

    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 has entered the recycling business with the recent launch of operations of a 1-million ton per year shredder and recycler of metals located on 32 acres of land acquired by China Armco. China Armco maintains customers throughout China which includes the fastest growing steel producing mills and foundries in the PRC. Raw materials are supplied from global suppliers in India, Hong Kong, Nigeria, Brazil, Turkey, and the Philippines. China Armco's product lines include ferrous and non-ferrous ore, iron ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore and steel billet. The recycling facility is expected to be capable of recycling one million metric tons of scrap metal per year which will position China Armco as one of the 10 largest recyclers of scrap metal in China. China Armco estimates the recycled metal market in China as 70 million metric tons. For more information about China Armco, please visit

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