MRO Magazine

Yulong Receives Authorization to Service Two New Villages in Zhengzhou City District

By Business Wire News   


Yulong Eco-Materials Limited (NasdaqCM:YECO), an eco-friendly building products and construction waste recycling company, today said it has received authorization to process and recycle construction waste in two additional administrative villages in the Zheng Dong New District of Zhengzhou City.

As per the authorization, received from the District’s Municipal Construction Office, Yulong will initially recycle 343,800 cubic meters of construction waste in Duqiao Village and 263,000 cubic meters of construction waste in Dachen Village. For this work Yulong will receive 15RMB (about $2.35) per cubic meter of construction waste processed, or more than $1.4 million.

Yulong will be required to complete these initial activities by March 17, 2016 but will likely receive further recycling assignments in both Duqiao and Dachen as the two villages continue their demolition processes.

As with all villages Yulong services in the District, the company shall also have the right to sell its processed waste to local construction companies as recycled raw materials.

Today’s announcement follows Yulong’s agreement signed last month with the District’s Municipal Construction Office to provide processing and recycling activities in the District, whose 28 villages are expected by the Office to produce more than 15 million cubic meters of construction waste over the next four years.

Yulong’s first assignment from this agreement is currently progressing in the District’s Gaozhuang Village, where the company is expected to generate about $1.4 million in revenue upon the project’s completion next month.

To date, Yulong is the only company appointed to process construction waste in the District.

Commenting on Yulong’s assignment to begin work in the two new villages, chief executive Mr. Yulong Zhu said he was “extremely pleased” with the company’s progress and believes Yulong will likely be assigned three additional District villages — a total of six — by the end of next June, when the company’s 2016 fiscal year ends.

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 Pingdingshan’s leading producer of fly-ash bricks and concrete as well as its exclusive provider of waste management services.

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


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