SOURCE: China ACM

China ACM

May 27, 2011 07:55 ET

China ACM Announces Board Changes

BEIJING--(Marketwire - May 27, 2011) - China Advanced Construction Materials Group, Inc. (NASDAQ: CADC) ("China ACM"), a leading provider of eco-friendly ready mix concrete and related technical services in China, today announced the appointment of Joanna Wang to its Board of Directors. The Company also announced that Larry Goldman and Dennis Slavich resigned from the Board of Directors this week. With the recent appointment of Jin Tao, China ACM maintains a total of seven directors, four of whom are independent.

Ms. Wang brings nearly 20 years of experience as an accomplished cross border investment banking and private equity executive. Most recently she served as Senior Vice President of Oaktree Capital (Hong Kong) Limited, a U.S. private equity investment fund focused on mid-market opportunities worldwide, where she was the head of the Beijing office and responsible for deal sourcing, execution, portfolio monitoring and formulating the fund's investment strategy in China. Prior to Oaktree, she served as Director of Real Estate Financings of Credit Suisse (Hong Kong) Limited, where she was responsible for execution and origination of debt and equity financings in China's real estate sector. Prior to Credit Suisse, Ms. Wang held various management level positions with Agilent Technologies, a spin-off of Hewlett Packard, where she was responsible for Agilent's investments in the communication and semiconductor industries, as well as for leading due diligence, deal structuring and negotiation of M&A transactions in the electronics, communications and life science industries.

Ms. Wang received her M.B.A. from Harvard Business School, and Bachelor of Business Administration in Risk Management and Finance from the College of Insurance in New York. Ms. Wang is a U.S. citizen and is fluent in English and Mandarin.

"I would like to welcome Ms. Wang to our Board," said Mr. Xianfu Han, China ACM Chairman and Chief Executive Officer. "Her extensive experience in private equity, corporate finance, M&A and cross border transactions will be invaluable to China ACM as we continue to grow and capitalize on opportunities in our market."

Ms. Wang said, "I am excited about the opportunity to work with the Board and the team at China ACM. As a leader in ready mix concrete for high speed rail and other important infrastructure projects in China, the Company is well positioned for continued growth and prosperity."

Mr. Xianfu Han continued, "I would like to thank Mr. Goldman and Mr. Slavich for their dedication and service to China ACM. They both made a significant contribution to China ACM and we wish them well in all of their future endeavors."

About China ACM
China ACM is a leading producer of advanced, certified eco-friendly ready-mix concrete (RMC) and related technical services for large scale, high-speed rail (HSR) and other complex infrastructure projects. Leveraging its proprietary technology and value-add engineering services model, the Company has won work on numerous high profile projects including the 30,000 km China HSR expansion, the Olympic Stadium Bird's Nest, Beijing South Railway Station, Beijing International Airport, National Centre for Performing Arts, CCTV Headquarters, Beijing Yintai Building and U.S. and French embassies.

Founded in 2002, Beijing-based China ACM provides its materials and services through its network of fixed ready-mix concrete plants covering the Beijing metropolitan area. It also has technical consulting services and preferred procurement agreements with other independently-owned plants across China. Additionally, the Company owns numerous portable plants deployed in various provinces across China primarily to major high speed rail projects. More information about the Company is available at www.china-acm.com.

Forward-Looking Statements
This press release contains statements that are forward-looking in nature, including statements regarding the Company's competitive position and product and service offerings. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties, which may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; and the Company's ability to manage its business effectively in a rapidly evolving market. Certain of these and other risks are set forth in more detail in "Item 1A. Risk Factors" in China ACM's Annual Report on Form 10-K for the fiscal year ended June 30, 2010. China ACM does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.

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