China Armco Metals, Inc., a distributor of imported metal ore with plans to build a new state of the art scrap metal recycling facility in China, announced today that Armco Metawise, Ltd., the company’s wholly owned subsidiary, has delivered the last of iron ore to a China based steel company pursuant to a contract that is expected to generate revenues of approximately $8 million in the third quarter of 2009.
Commenting on the contract, Mr. Kexuan Yao, CEO and Chairman of China Armco Metals, Inc., stated, “We are extremely pleased with the strong sales efforts we have made in the third quarter. We worked diligently with this new customer to deliver this order and hope to secure additional orders in the future. Expanding our customer base is critical as we build for future growth and we expect our sales efforts will continue to gain momentum in the coming months.”
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