Print article
China Armco Metals, Inc., a distributor of imported metal ore with plans to launch a new state of the art scrap metal recycling facility in China, today announced that it has received approval to list its common stock on NYSE Amex. The Company anticipates it will begin trading on NYSE Amex beginning Wednesday, February 10, 2010 under the symbol CNAM.
Commenting on the listing, Mr. Kexuan Yao, CEO and Chairman of China Armco Metals, Inc., stated, "We are extremely pleased to receive approval for listing from the NYSE Amex. This is an important step in the growth of our company as we look to enhance our corporate visibility and strengthen our shareholder base. We have worked hard to position our company to meet the stringent requirements of the exchange and are honored to join the NYSE Amex group of companies. We are confident that this listing will significantly enhance our corporate image in the U.S. capital markets as we continue to grow our business in the coming years." 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 entering into the metal recycling business through the construction of a facility on 22 acres of land capable of processing one million metric tons of scrap metal on an annual basis. China Armco Metals maintains customers throughout China which include 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, the Philippines and Libya. China Armco Metals product lines include ferrous and non-ferrous ore, iron ore, chrome ore, nickel ore, copper ore, manganese ore and steel billet. Beginning in the fourth quarter of 2009, China Armco Metals expects to begin operations in its steel recycling and scrap metal recycling business. The recycling facility is expected to be capable of recycling one million metric tons of scrap metal per year which will position China Armco Metals as one of the top 10 largest recyclers of scrap metal in China. China Armco Metals estimates the recycled metal market as 70 million metric tons annually.