China ACM Announces Resignation of President and CFO Jeremy Goodwin and Appoints Interim CFO
November 14 2011 - 8:03AM
Marketwired
China Advanced Construction Materials Group, Inc. ("China ACM" or
the "Company") (NASDAQ: CADC), a leading provider of ready-mix
concrete and related technical services in China, today announced
the resignation of Jeremy Goodwin from his positions as President
and Chief Financial Officer, effective November 15, 2011. Mr.
Goodwin had no disagreements with the Company and has resigned to
pursue other interests and opportunities.
Mr. Goodwin was an independent member of China ACM's Board of
Directors from October 2008 until he was appointed President of
China ACM in January 2010. In February 2010, he also assumed the
role of Chief Financial Officer of China ACM.
Mr. Xianfu Han, Chairman and Chief Executive Officer of China
ACM, commented, "I would like to thank Jeremy for his service to
the Company. We wish him much success in his future endeavors."
The Company has appointed Mr. Yanwei He, China ACM's Financial
Manager, as Interim Chief Financial Officer. Yanwei He is not
related to China ACM's Chief Operating Officer, Mr. Weile He.
Mr. Goodwin commented, "It has been a pleasure to collaborate
with the management and Board of China ACM on a number of corporate
initiatives over the past three years and I wish them well in their
future pursuits."
About China ACM
China ACM is a leading producer of advanced, certified
eco-friendly ready-mix concrete (RMC) and related technical
services for large scale, high-speed rail (HSR) and other complex
infrastructure projects. Leveraging its proprietary technology and
value-add engineering services model, the Company has won work on
numerous high profile projects including the 30,000 km China HSR
expansion, the Olympic Stadium Bird's Nest, Beijing South Railway
Station, Beijing International Airport, National Centre for
Performing Arts, CCTV Headquarters, Beijing Yintai Building and
U.S. and French embassies in Beijing, China.
Founded in 2002, Beijing-based China ACM provides its materials
and services through its network of fixed ready-mix concrete plants
covering the Beijing metropolitan area. It also has technical
consulting services and preferred procurement agreements with other
independently-owned plants across China. Additionally, the Company
owns numerous portable plants deployed in various provinces across
China primarily in major high speed rail projects. More information
about the Company is available at www.china-acm.com.
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Such statements include all assumptions, expectations,
predictions, intentions or beliefs about future events.
Forward-looking statements can be identified by the use of
forward-looking terminology such as "will," "believes," "expects,"
"may" or similar expressions. Such information is based upon
expectations of our management that were reasonable when made but
may prove to be incorrect. All of such assumptions are inherently
subject to uncertainties and contingencies beyond our control and
based upon premises with respect to future business decisions,
which are subject to change. We do not undertake to update the
forward-looking statements contained in this press release, except
to the extent required by law. For a description of the risks and
uncertainties that may cause actual results to differ from the
forward-looking statements contained in this press release, see our
most recent Annual Report on Form 10-K, as amended, filed with the
Securities and Exchange Commission, and our subsequent SEC filings.
Copies of filings made with the SEC are available through the SEC's
electronic data gathering analysis retrieval system at
http://www.sec.gov.
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tross@finprofiles.com Financial Profiles Moira Conlon Tel: (310)
478-2700 x11 mconlon@finprofiles.com
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