SOURCE: Guanwei Recycling Corp.

Guanwei Recycling Corp.

April 24, 2012 07:30 ET

Guanwei Recycling Regains NASDAQ Compliance

FUQING CITY, CHINA--(Marketwire - Apr 24, 2012) - Guanwei Recycling Corp. (the "Company") (NASDAQ: GPRC), China's leading clean tech manufacturer of recycled low density polyethylene (LDPE), reported today that with the price of its shares having maintained a closing bid price of $1.00 or more for more than ten consecutive business days, the Company has been notified by NASDAQ it has regained compliance with Listing Rule 5550 (a) (2).

Description of Guanwei Recycling Corp.

Guanwei Recycling Corp. is China's largest manufacturer of recycled low density polyethylene (LDPE). Adhering to the highest "green" standards, it has generated rapid growth producing LDPE from plastic waste procured mostly in Europe for sales to more than 300 customers in ten different industries in China. Guanwei Recycling Corp. is one of the few plastic recyclers in China that has been audited by German authorities, most recently Umweltagentur Erftstadt, for compliance with German pollution and environmental standards. This allows 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.

Contact Information

  • US Contact:
    Ken Donenfeld
    DGI Investor Relations
    kdonenfeld@dgiir.com
    Tel: 212-425-5700
    Fax: 646-381-9727