Armco Metals Holdings Inc. AMCO Archives - Page 2 of 2

TuesdayApr 29, 2014 4:38 pm

Armco Metals Holdings, Inc. (AMCO) On Pace with Growing “Green” Initiatives of Chinese Government

Since the Chinese government’s introduction of economic reforms in 1979, the Chinese economy has been growing like clockwork. The National Bureau of Statistics reports that from 1979 to 2012, China saw its economy grow on average by 9.8 percent per year. Average world economic growth, in comparison, was only 2.8 percent per year in that stretch of time. Foreign nations’ reactions to these statistics have varied because of the Chinese government’s exchange rate policy. However, it is clear that China has emerged as a strong economic force to be reckoned with. Over approximately 35 years, the Chinese economy has jumped…

WednesdayApr 23, 2014 10:14 am

Armco Metals Holdings Inc. (AMCO) Smart Strategy Amidst China’s Business Cycle

A recycler of steel and a distributor of metal ores, Armco Metals Holdings is in the process of acquiring California-based Draco Resources, which trades, mines, and explores for iron ore. This will diversify Armco Metals to sell iron ore into varied markets beyond China. Armco Metals has already been positioning itself as the largest processor of scrap steel in China, which is a fantastic strategy long term, but short term, it could lead to volatile earnings, and the Draco Resource acquisition significantly decreases that risk. To better understand that, an overview of China’s demand for steel is needed. Since the…

WednesdayApr 16, 2014 9:52 am

Armco Metal Holdings, Inc. (AMCO) Enters Agreement for Total Acquisition of Draco Resources, Inc.

Today, Armco Metal Holdings announced its entrance into a stock purchase agreement for 100% acquisition of Draco Resources, a California-based company engaged in the exploration, mining, and trading of iron ore and minerals. The stock purchase agreement calls for a stock exchange valued at approximately $46 million at the closing price of Armco Metal Holdings as of April 15, 2014. The closing of the acquisition is subject to the completion of due diligence, approval from shareholders, approval for continued listing by the New York Stock Exchange, and approval by any applicable governmental regulatory agency. Once the acquisition is successfully concluded,…

MondayApr 14, 2014 1:24 pm

Armco Metal Holdings, Inc. (AMCO) Responds to Demand for Sustainable, “Green” Steel Solutions in China

Armco Metals for a decade has worked to build a reputation of providing sustainable, efficient options for steel production and to become the largest scrap steel recycler in China. To reach this goal, Armco operates five subsidiaries: Armco Metals International; Armco (Lianyungang) Renewable Metals; Armet (Lianyungang) Holdings; Henan Armco & Metawise Trading Co.; and Armco Metals (Shanghai) Holding. Aligned with the Chinese government’s green initiatives and goal to use 20% recycled scrap metal by 2015, Armco Metals has created its own state-of-the-art recycling facility capable of processing 1 million metric tons of scrap metal each year. Armco (Lianyungang) Renewable Metals…

MondayApr 07, 2014 10:08 am

Armco Metals Holdings, Inc. (AMCO) Posts Q4 and FY13 Financial Results, Outlines Strategy for Growth

Armco Metals Holdings, a U.S.-based company engaged in the import, sale, and distribution of metal ore and non-ferrous metals in the People's Republic of China, the recycling of scrap metals, and sourcing and pricing services for various metals, today reported financial results for its Q4 and fiscal year ended December 31, 2013, reflecting strong sales growth for both periods. Weaker steel prices impacted Armco’s performance, though the company has countered the challenge with strength in its recycling business and a route of growth for the future. "2013 proved to be another very challenging year for the China steel industry,” Kexuan…

TuesdayApr 01, 2014 9:38 am

Armco Metal Holdings, Inc. (AMCO) Enters into Steel Supply Agreement with Midland Resources

Today, Armco Metal Holdings, a distributor of imported metal ores and a steel recycler in China, announced its entrance into a steel supply agreement with Hong Kong-based Midland Resources (China) Company Limited (Midland Resources). Midland Resources serves as the exclusive agent for Shagang Steel Group for sale of its steel products in Hong Kong markets. Midland Resources posting fulfillment of sales of over 400,000 tons of steel products for the steel group in 2013. Shagang Steel Group is known as one of the largest importers of steel scrap in China. In the agreement, Armco Metal Holdings will serve as a…

TuesdayApr 01, 2014 8:13 am

Armco Metals Holdings, Inc. (AMCO) Sets Schedule for Q4, FY13 Financial Results

Armco Metals, a U.S.-based company engaged in the import, sale, and distribution of metal ore and non-ferrous metals in the People's Republic of China, is scheduled to report its fourth quarter and year-end 2013 financial results Friday April 4, 2014, at 5 p.m. ET. To attend the call, dial 877-407-9210. For international callers, dial 201-689-8049. When prompted, ask for the "Armco Metals call" and/or be prepared to provide the conference ID. To access the webcast, visit http://www.investorcalendar.com/IC/CEPage.asp?ID=172560. A playback of the webcast can be accessed until July 7, 2014. For the teleconference replay dial 877-660-6853; international callers dial 201-612-7415. Replay…

MondayMar 31, 2014 11:24 am

Armco Metals Holdings, Inc. (AMCO) is “One to Watch”

Since its founding 10 years ago, Armco Metals Holdings has tirelessly worked to create low-cost, high-quality solutions to meet steel industry demands and achieve its goal to become the largest scrap steel recycler in China. The company operates through five subsidiaries located in key regions throughout the country to source, import, process, and distribute quality, environmentally friendly recycled scrap steel, as well as metal and non-ferrous metal ore. Subsidiaries Armco Metals International, Ltd., Armco (Lianyungang) Renewable Metals, Inc., Armet (Lianyungang) Holdings, Inc., Henan Armco & Metawise Trading Co., Ltd., Armco Metals (Shanghai) Holding, Ltd. support Armco Metal’s overarching corporate mission…

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