China Architectural Engineering Awarded $15 Million ''Silicon Valley'' Contract in Guangzhou"Silicon Valley" Project in Guangzho
May 12 2008 - 9:00AM
Business Wire
China Architectural Engineering, Inc. (CAE) (AMEX:RCH), a leader in
the design, engineering, fabrication and installation of high-end
building envelope solution systems, today announced that it has
been awarded a $15 million contract to design, construct and
install curtain wall systems for the �Silicon Valley� development
in Guangzhou, China, where the major economic center and office
centers of the area will be located. The project is expected to be
completed by the second quarter of 2009. �Silicon Valley,� also
called �Science Town,� features a wide range of high-tech
industrial facilities and other projects. It is being developed as
Guangzhou�s prime area for business, residences and retailing, and
will also include vacation destinations in this city noted for
modernistic architecture. Microsoft, IBM, Intel, Oracle, Besco,
Sony, Honda, Vtron, and DuPont are among the major companies that
have agreed to occupy space in this new development. �The new
�Silicon Valley� contract demonstrates CAE�s continued expansion to
its already robust China business while it is also advancing into
new markets abroad,� said Ken Yi Luo, China Architectural
Engineering�s Chairman and CEO. �We are excited to be associated
with a development that houses several technology leaders in China
as well as some of its most advanced and striking architecture.�
Wang Yang, the leader of the Guangdong�s Province, commented,
�Xiguan represents Guangzhou�s past; Zhujiang New Town represents
Guangzhou�s present; and Science Town represents Guangzhou�s
future.� To be added to China Architectural Engineering's investor
lists, please contact Haris Tajyar at htajyar@irintl.com or at
818-382-9702. About China Architectural Engineering, Inc. China
Architectural Engineering, Inc. (CAE) (AMEX:RCH), which began
operations in 1992, has maintained a leading position in the global
commercial construction industry by providing timely, high-quality,
reliable, fully integrated & cost-effective service solutions
to its clients utilizing specialized technical expertise in the
design, engineering, fabrication and construction of building
envelop solution systems. It specializes in high-end curtain wall
systems (including glass, stone & metal curtain walls), roofing
systems, steel construction systems, eco-energy saving building
conservation systems and related products, for public works and
commercial real estate projects. CAE has worked with world-renowned
architects and building engineers from China and other countries
and has completed over 100 large, complex and unique projects
throughout China, Hong Kong, Macau, Australia and Southeast Asia,
including numerous award-winning landmark buildings in many of
Asia's major cities. It is now capitalizing on its industry-leading
expertise by expanding aggressively beyond China into some of the
hottest construction markets in the world, including the Middle
East, Central Asia and Eastern Europe. It recently set up
operations in New York to expand in the U.S. and Canadian markets.
CAE now has operations in 13 cities in China, Hong Kong, Sydney
(Australia), Dubai (UAE) and New York (USA). For further
information on China Architectural Engineering please visit
www.caebuilding.com. Forward Looking Statements: In addition to
historical information, the statements set forth above include
forward-looking statements that may involve risk and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements. Such risks and uncertainties
include, but are not limited to, uncertainty of contract
negotiations and payments under existing contracts, the Company�s
dependence on government contracts, changes in the laws of the PRC
that affect the Company�s operations, fluctuation and
unpredictability of costs related to the Company�s products and
services, the Company�s dependence on the steel and aluminum
markets, reduction or reversal of the Company�s recorded revenue or
profits due to �percentage of completion� method of accounting and
expenses and costs associated with the issuance of convertible
bonds. The forward-looking statements are also identified through
use of the words �believe,� �enable,� �may,� �will,� �could,�
�intends,� �estimate,� �anticipate,� �plan,� �predict,� �probable,�
�potential,� �possible,� �should,� �continue,� and other words of
similar meaning. Actual results could differ materially from the
expectations contained in forward-looking statements as a result of
several factors, including regulatory approval requirements and
competitive conditions. These and other factors that may result in
differences are discussed in greater detail in the Company�s
reports and other filings with the Securities and Exchange
Commission.
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