China Architectural Engineering Announces Move to NASDAQ Stock Market
May 28 2008 - 8:00AM
Business Wire
China Architectural Engineering, Inc. (CAE) (AMEX:RCH), a leader in
the design, engineering, fabrication and installation of high-end
building envelope systems, today announced its Board of Directors
has approved the decision to move the listing of its common stock
from the American Stock Exchange to The NASDAQ Stock Market LLC�.
Effective June 9, 2008, the Company will trade on the NASDAQ Global
Select Market under the ticker symbol �CAEI.� �As one of the
world�s most innovative and fastest growing architectural
companies, our move to NASDAQ further demonstrates our commitment
to enhance shareholder value,� said Ken Yi Luo, China Architectural
Engineering�s Chairman and CEO. �We view our ability to meet the
superior listing standards of the NASDAQ Global Select Market as a
significant achievement for CAE. This decision was reached after
careful consideration of capital market alternatives and analysis
of the electronic market model, which provides added exposure and
liquidity to our investors. As the world�s largest electronic stock
market, we believe that NASDAQ�s electronic multiple market maker
structure will provide CAE with enhanced exposure, liquidity and a
broader investor base,� concluded Mr. Luo. To be added to China
Architectural Engineering�s investor lists, please contact Haris
Tajyar at htajyar@irintl.com or at 818-382-9702. About NASDAQ
NASDAQ� is the largest U.S. electronic stock market. With
approximately 3,200 companies, it lists more companies and, on
average, its systems trade more shares per day than any other U.S.
market. NASDAQ is home to companies that are leaders across all
areas of business including technology, retail, communications,
financial services, transportation, media and biotechnology. NASDAQ
is the primary market for trading NASDAQ-listed stocks. For more
information about NASDAQ, visit the NASDAQ Web site at
www.nasdaq.com or the NASDAQ NewsroomSM at www.nasdaq.com/newsroom.
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 and cost-effective service solutions to its
clients utilizing specialized technical expertise in the design,
engineering, fabrication and construction of structural exterior
cladding 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
most active construction markets in the world, including the Middle
East, Central Asia, United States and Eastern Europe. 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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