China America Holdings, Inc. (CAAH.OB) Subsidiary Signs Agreement Estimated at Approximately $2.5 Million
Shanghai AoHong, a subsidiary of China America Holdings, Inc. has signed an agreement with China FAW Group Corporation to supply the company with its refrigerant R134A product. This agreement is expected to generate sales of approximately $2.5 million for 2008. China America Holdings owns 56% of the Chinese-based Shanghai Aohong Industry. Shanghai Aohong distributes hydrofluorocarbon (HFC) refrigerants used in a variety of applications, primarily as coolants in automobile, residential and commercial air conditioning systems, refrigerators, fire extinguishing agents and assorted aerosol sprays. Shanghai Aohong is focused on providing environmentally friendly products worldwide to multiple markets. China FAW Group is a…