China Armco Metals’ Recycling Facility Returns to Full Time Operations

- January 6th, 2011

China Armco Metals (NYSE:CNAM) announced Chinese government restrictions are about to be lifted, and they will soon be back to business at their scrap metal recycling facility

China Armco Metals (NYSE:CNAM) announced  Chinese government restrictions are about to be lifted, and they will soon be back to business at their scrap metal recycling facility.

The press release is quoted as saying:

The central government imposed energy restrictions in at least 18 provinces beginning in September 2010 in an effort to meet the energy consumption and emissions targets set by the National 11th Five Year Plan (2006-2010), which significantly impacted output in the steel industry and the operations at China Armco.

 Kexuan Yao, China Armco Metals ‘Chairman and Chief Executive Officer, said:

“These restrictions temporarily affected our operations in the third and fourth quarters of 2010, and we are encouraged to be operating on a full time basis. We will now be able to rapidly accelerate our growth in this area of great potential.”

To access the full release, click here.

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