Attached files
| file | filename |
|---|---|
| 8-K - Guanwei Recycling Corp. | v190372_8k.htm |
| EX-99.1 - Guanwei Recycling Corp. | v190372_ex99-1.htm |
Guanwei
Recycling Concludes Another Supply Agreement With
Leading
German Recycler
FUQING CITY, CHINA—(July 12,
2010) - Guanwei
Recycling Corp. (NASDAQ:GPRC), China's leading clean tech
manufacturer of recycled low density polyethylene (LDPE), announced today it has
entered into a sales contract with Sunshine Handels & Consulting GmbH, a
leading German recycling company, for the purchase of 25,000 tons of LDPE waste
through June 2011. The plastic waste supplied will be converted into
recycled LDPE at Guanwei's clean tech facilities in Fuqing City, which are
audited by TÜV Rheinland Cert GmbH to ensure that Guanwei complies with
Germany's strict pollution and environmental standards, which are among the
highest in the industry.
“We are
extremely pleased to enter into this agreement with Sunshine Handels and
Consulting, a European supplier of high quality waste, and look forward to a
long and mutually prosperous relationship,” stated Mr. Chen Min, Chairman and
CEO of the Company.
“With
the strong demand we are seeing for our products,” Mr. Chen continued, “the
ongoing strengthening and diversification of an assured long term European raw
material supply is essential to maintaining our rapid growth and the significant
quality and pricing edge we believe we have over competitors. We therefore will
continue to work hard to grow our supplier relationships and to maintain the
highest possible ‘green’ standards in all phases of
our operations. We fully anticipate maintaining our industry
leadership in this regard and building on the success we have achieved to date
in the world’s largest recycling market.”
Description
of Guanwei Recycling Corp.
Guanwei
Recycling Corp. is China's largest manufacturer of recycled low density
polyethylene (LDPE). Adhering to the highest “green” standards, it has generated
rapid growth producing LDPE from plastic waste procured mostly in Europe for
sales to nearly 300 customers in ten different industries in China. Guanwei
Recycling Corp. is one of the few plastic recyclers in China that has been
audited by TÜV Rheinland Cert GmbH for compliance with German pollution and
environmental standards, which allows the company to procure high quality
plastic waste directly from Germany and other European countries (Spain and
Holland), with no middlemen, and permits highly economic production of the
highest grades of LDPE. Additional information regarding Guanwei Recycling Corp.
is available at www.guanweirecycling.com.
Information
Regarding Forward-Looking Statements
Except
for historical information contained herein, the statements in this press
release are forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and uncertainties,
which may cause our actual results in future periods to differ materially from
forecasted results. These risks and uncertainties include, among other things,
product demand, market competition, and risks inherent in our operations. These
and other risks are described in our filings with the U.S. Securities and
Exchange Commission.
Contacts:
US
Investors
Focus
Asia Partners
Robert
Agriogianis
Tel:
973-845-6642
Fax:
973-822-8030
Press
Ken
Donenfeld
donfgroup@aol.com
kdonenfeld@dgiir.com
Tel:
212-425-5700
Fax:
646-381-9727