MRO Magazine

Yulong Eco-Materials Commences Waste Hauling and Recycling Operations in Shangqiu

August 3, 2015
By Business Wire News


Yulong Eco-Materials Limited (NasdaqCM:YECO), a China-based vertically-integrated manufacturer of eco-friendly building products, today announced it has commenced waste hauling and recycling operations in the Lingyuan district section of a high-speed railway construction project in the city of Shangqiu, Henan Province. The railway will connect the cities of Zhengzhou in Henan Province and Xuzhou in Jiangsu Province. As announced last month, Yulong won this contract from a Central Government agency.

Yulong has redeployed 15 hauling trucks from its existing operations in Pingdingshan to Shangqiu. As per the terms of the contract, Yulong will receive 19 RMB (or approximately $3) per metric ton of hauled waste. Of note, the Liangyuan district site is projected to generate over 1.3 million metric tons of construction waste through its completion.

The collected waste is processed at a Company-owned mobile recycling station, which has an annual processing capacity of 2 million metric tons. The Company expects to generate additional revenue by selling the processed waste as raw materials to local construction companies.

Mr. Yulong Zhu, CEO of Yulong, commented, “We believe that our work on this prestigious project will help us secure further hauling and recycling contracts outside our core market of Pingdingshan. In fact, we are currently in discussions for one such contract in the city of Zhengzhou, the provincial capital of Henan Province.

“Our company is well positioned to capitalize on significant opportunities arising from China’s growing public consciousness regarding the need to recycle construction waste, a trend we believe will be instrumental in helping Yulong expand into other cities and provinces.”

About Yulong Eco-Materials

Yulong is a vertically integrated manufacturer of eco-friendly building products and a construction waste recycling company, located in the city of Pingdingshan in Henan Province, China. The Company is currently the leading producer of fly-ash bricks and concrete in that city and in late April 2015, it commenced its hauling and construction waste recycling operations.

Forward-Looking Statements

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “plans,” “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think,” “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

Investor Relations Counsel:
The Equity Group Inc.
Lena Cati, 212-836-9611
Vice President
Asia IR•PR
Jimmy Caplan, 512-329-9505
Managing Director
Media Relations:
Asia IR•PR
Rick Eisenberg, 212-496-6828
Managing Director