SOURCE: Guanwei Recycling Corp.

Guanwei Recycling Corp.

September 08, 2014 17:30 ET

Guanwei Recycling Receives Notice of Non-Compliance With NASDAQ Listing Rules

FUQING CITY, CHINA--(Marketwired - Sep 8, 2014) - Guanwei Recycling Corp. (the "Company" or "Guanwei") (NASDAQ: GPRC), China's leading clean tech manufacturer of recycled low density polyethylene (LDPE), reported today the Company received notice from The NASDAQ Stock Market LLC ("Nasdaq") on August 25, 2014 that the Company was not in compliance with the Listing Rules of NASDAQ since the Company had not filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2014.

As described in more detail in a Form 8-K filed by the Company on August 26, 2014, the Company is afforded 30 calendar days to prepare and submit a plan of compliance. However, there can be no assurance that the Company will develop a plan to regain compliance, or that Nasdaq will accept such plan.

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. The Company sells the recycled LDPE 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 TÜV Rheinland, 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 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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