posted
yes, drunner. MMs are still playing with this one. imo. This has more good news today and has retraced from run up. It's is DUE to rebound...mms come on already! lol
notice the small share sells that bring it down? getting primed imho.
IP: Logged |
posted
nice volume...looks like a big buy went through for 430,300 shares around 12:45.... I think that's what it is anyway...Tompom, is that right?
IP: Logged |
International Building Technologies Inc., A Subsidiary Of Axia Group Inc., Signs Agreement With Chinese Government to Operate Panel Factory in City of Suijiang
PR Newswire "US Press Releases "
SAN DIEGO, Dec. 7 /PRNewswire-FirstCall/ -- International Building Technologies, Inc., a wholly owned subsidiary of Axia Group, Inc. (OTC Pinksheets: AXGJ), announced today that it has signed an agreement with the Chinese government to install and operate an Axia panel factory to support the rebuilding of the city of Suijiang in the Yunnan Province in China. This factory, which will be 100% owned by IBT, will be the exclusive provider of Axia building panels to the new city of Suijiang. IBT will also provide consulting services to the Chinese government, its contractors and builders on the use of the Axia panel technology. IBT was recently established as a subsidiary of AXGJ in order to support new projects in China.
The ambitious project is a complete rebuilding of Suijiang (which will be known as Suijiang Newtown) and encompasses residential homes, commercial and government buildings, planned and designed by the architecture and civil engineering firms, BeltCollins ( http://www.beltcollins.com) and ia&d consultants (http://www.internationaladc.com). The total building area according to the Chinese government is about 3,000,000 square meters (or about 32,550,000 square feet). Management estimates that approximately 1,000,000 square meter, or one third of the buildable area, is estimated to require the use of IBT panels. The agreement with IBT calls for the government of China to require contractors and builders involved in this project to use the IBT panels in those construction areas that can best utilize this technology.
Stated Jeffrey Flannery, CEO of Axia Group, Inc. "This is an opportunity for Axia to display its technological abilities in a showcase city for the government of China. We believe this will help establish our technology as one of the preferred methods for building new homes and other buildings in developing nations. We have worked hard to get this contract, and we want to express our profound gratitude to the Chinese government, especially the officials in the city of Suijiang, for trusting in our experience, capabilities and technology, and allowing us to be a part of this remarkable project."
The city of Suijiang lies along the Jinsha River about 40 miles upstream of the Xiangjiabar hydroelectric power station, the fourth largest in the world, which is being built to provide hydroelectric power throughout the region. The Chinese government will relocate the current 35,000 residents to a new city built above the future waterline. The city will be further expanded to support a population of 200,000 in the year of 2020 and is expected to be a major resort center in this south central region of China. For more information about the Suijiang Newtown, please visit the website of http://www.suijiang-government.com.
The agreement requires IBT to make an investment of about 20 million Chinese RMB in the plant and its operations. IBT management believes these funds will come from private investors and that the revenue from the sales of production will be adequate to repay this investment. The Chinese government will provide the land and the infrastructure to support the plant, as well as provide support in developing the labor force and compliance with government regulations, laws and labor requirements. The Company will also provide engineering and technical support to the government's contractors and builders.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of AXGJ officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future AXGJ actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and AXGJ has no specific intention to update these statements.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
