Mr. Min Chen, Chairman and CEO of the Company, commented, "We believe our financial strength and the continuing growth in sales we achieved in 2012 -- despite China's relatively slower economic environment -- bode well for the future, as we provide key products required in a wide variety of end uses to a broad range of customers. A primary goal this year is to improve profit margins as sales continue to expand, with a particular focus on managing key manufacturing costs to the extent possible."
He added, "We also remain committed to our U.S. listing and believe it is only a matter of time before investors recognize the outstanding growth still ahead in China, and companies such as ours that are well positioned to benefit from that growth."
Conference Call Invitation
The Company will discuss 2012 year end results during a live conference call and webcast on Monday, April 1st, at 8:00am ET.
To participate in the call, interested participants should call 1-877-941-4774 when calling within the United States or 1-480-629-9760 when calling internationally. Please ask for the Guanwei Recycling Corp. 2012 Year End Conference Call, Conference ID: 4609603. There will be a playback available until 04/08/13. To listen to the playback, please call 1-877-870-5176 when calling within the United States or 1-858-384-5517 when calling internationally. Use the Replay Pin Number: 4609603.
This call is being webcast by ViaVid Broadcasting and can be accessed by clicking on this link http://public.viavid.com/index.php?id=103983 or at ViaVid's website at http://viavid.com.
SEE ATTACHED TABLES
Description of Guanwei Recycling Corp.
Adhering to the highest "green" standards, Guanwei Recycling Corp. (the "Company") has generated rapid growth producing recycled low density polyethylene (LDPE) from plastic waste procured mostly in Europe for sales to more than 300 customers (including over 150 active recurring customers) in more than ten different industries in China. The Company is licensed by Chinese authorities and also has been issued a Compliance Certificate by Umweltagentur Erftstadt, which issues certificates of approval for certain plastics manufacturers that meet Germany's strict environmental standards. This enables 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.
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